The Ministry of Finance will review and cut 25 conditional investment and business sectors.

On the morning of November 11, continuing the tenth session, the National Assembly listened to the presentation of the draft Investment Law (amended).

Scene of the morning meeting on November 11. *Photo: media.quochoi.vn*

Presenting the report, Minister of Finance Nguyen Van Thang said that the draft Law clarifies the scope of projects that must be approved in principle. Accordingly, investment policy approval is only granted for infrastructure development investment projects in a number of important and sensitive areas, such as: seaports, airports, telecommunications, publishing, press, etc.; projects proposing to use land and sea areas; projects that have a major impact on the environment, have the potential to seriously affect the environment, or are implemented in areas that affect national defense and security, etc.

Regarding special investment procedures (green channel mechanism), the draft Law allows investment projects in industrial parks, export processing zones, high-tech zones, concentrated digital technology zones, free trade zones, international financial centers and functional areas in economic zones to choose to register for investment according to special investment procedures (green channel), except for a number of projects that have a major impact on socio-economic development, security and defense such as airport and seaport projects... in economic zones, free trade zones, international financial centers and investment projects under the Prime Minister's authority to approve investment policies.

Minister of Finance Nguyen Van Thang presents the report. *Photo: media.quochoi.vn*

The Draft Law allows foreign investors to establish economic organizations without requiring an investment project before establishment, but must meet the market access conditions for foreign investors prescribed in the Law when carrying out procedures to establish economic organizations.

The Minister of Finance said that he will review and cut 25 conditional investment and business sectors that do not meet the criteria and conditions prescribed in the Investment Law, including: Accounting services; Tax procedures; Rice export; Temporary import and re-export of frozen foods, etc.

Reporting on the review of the draft Law, Chairman of the National Assembly's Economic and Financial Committee Phan Van Mai proposed continuing to review and ensure full institutionalization of the Party's policies and guidelines on innovation in thinking in law-making, private economic development, breakthroughs in science and technology development, international integration, foreign investment cooperation; ensuring security - defense, social security; cutting and simplifying procedures in investment and business, creating favorable conditions for people and businesses.

Chairman of the National Assembly's Economic and Financial Committee Phan Van Mai presents the inspection report. *Photo: media.quochoi.vn*

Notably, the review report of the National Assembly's Economic and Financial Committee also proposed to study and have a specific regulation plan in the draft Law on investment and business activities of "electronic cigarettes and heated tobacco" to ensure clarity, consider regulations excluding the production of electronic cigarettes, heated tobacco or electronic cigarette accessories, heated tobacco for export purposes only, not for consumption, use in Vietnam or for special purposes, warranty, analysis, testing, scientific research, medicine, pharmaceutical production, national defense and security protection...

Source: https://hanoimoi.vn/bo-tai-chinh-se-ra-soat-cat-giam-25-nganh-nghe-dau-tu-kinh-doanh-co-dieu-kien-722873.html