A significant step forward in improving the investment environment.

The Investment Law, recently passed by the National Assembly at its Tenth Session and effective from March 1, 2026, includes many new provisions, significantly reducing administrative procedures, minimizing pre-approval checks, and strengthening post-approval checks. The law is considered to create a transparent and open legal framework aimed at improving the investment environment and promoting economic development.

Business investment conditions are one of the issues of great concern to the public and businesses, because many regulations on conditions and procedures are "too strict" and have inadvertently become barriers to some industries and professions.

In recent years, creating a transparent and open business environment has always been a matter of particular concern for the Party and the State. Specifically, Resolution No. 68-NQ/TW of the Politburo on the development of the private economy clearly states: creating a transparent, stable, safe, easily enforceable, and low-cost business environment. Based on this, the National Assembly issued Resolution No. 198/2025/QH15 on some special mechanisms and policies for the development of the private economy. Accordingly, to improve the business environment, the National Assembly requires: perfecting the legal system, removing barriers to market access, ensuring a transparent, clear, consistent, stable, easily compliant, and low-cost business environment. It also calls for a strong shift from pre-inspection to post-inspection, coupled with improved effectiveness and efficiency of inspection and supervision. The management of business conditions will shift from licensing and certification to the disclosure of business conditions and post-inspection, except for a few sectors that are required to undergo licensing procedures according to regulations and international practices.

The amended Investment Law, at its Tenth Session, cut 38 conditional investment and business sectors, thoroughly reflecting the shift from pre-approval to post-approval to reduce unnecessary administrative procedures. To ensure transparency, the Law clearly stipulates that the Government shall publish the List of conditional investment and business sectors requiring licensing and certification before investment and business activities, and the List of conditional investment and business sectors requiring a shift in the management method from licensing and certification to publishing requirements and conditions for post-approval management.

The law also simplifies overseas investment procedures, abolishing the procedure for approving overseas investment policies and narrowing the scope of projects requiring overseas investment registration certificates. The government will specify in detail the projects that do not require overseas investment registration certificates. This regulation aims to create favorable conditions for domestic investors and businesses to expand into international markets.

While the 2020 Investment Law required a project before establishing a business, this amended Investment Law allows foreign investors to establish businesses without a prior investment project, provided they meet market access conditions. This is considered a major change in easing procedural requirements, creating a more open investment environment and promoting FDI attraction into the domestic market.

Furthermore, another notable new point is that the Law has expanded the application of special investment procedures to many projects within functional zones, shifting strongly from pre-approval to post-approval. Accordingly, investors have the right to choose to register investments according to regulations for investment projects in industrial parks, export processing zones, high-tech zones, concentrated digital technology zones, free trade zones, international financial centers, and functional zones within economic zones, except for projects requiring investment policy approval as stipulated by the Government. Projects registering investments under the regulations on special investment procedures are not required to go through procedures for investment policy approval, technology assessment, environmental impact assessment report preparation, detailed planning preparation, construction permit issuance, and other procedures for approval and permission in the fields of construction, fire prevention and fighting. Investors must provide a written commitment to meet the conditions, standards, and regulations stipulated by law regarding construction, environmental protection, and fire prevention and fighting. The competent authority will conduct post-inspection instead of pre-inspection.

With many new regulations demonstrating a determined shift from a "pre-approval" to a "post-approval" mechanism, the Investment Law will create a more open legal framework to promote an increasingly attractive, efficient, and competitive investment environment, contributing to the achievement of double-digit economic growth targets in the coming period.

Source: https://daibieunhandan.vn/buoc-tien-quan-important-cai-thien-moi-truong-dau-tu-10400647.html