Only consider cases that are absolutely necessary to carry out the investment policy approval process.

Vice Chairman of the National Assembly Vu Hong Thanh chaired the meeting.

Completing regulations on conditional business investment sectors and professions and business investment conditions

The report on the Investment Law (replacement) project presented by Deputy Minister of Finance Nguyen Thi Bich Ngoc said that the development of the Law project aims to institutionalize the Party's Resolutions; promptly remove difficulties and obstacles in institutions and laws; reduce and simplify procedures in investment and business, creating favorable conditions for people and businesses. Complete regulations on conditional investment and business sectors and conditions, while cutting down some unnecessary and unreasonable sectors and professions. Complete the management decentralization mechanism between central and local agencies on the basis of ensuring the effectiveness and efficiency of state management, promptly handling practical issues, and removing institutional "bottlenecks".

The structure of the draft Investment Law (replacement) includes 7 Chapters, 60 Articles and 4 Appendices, of which 33/77 Articles and 1 Appendice are amended and supplemented; 17/77 Articles are removed; 25/77 Articles and 3 Appendices are retained; 2 new Articles are added and the Articles are rearranged. This Law regulates investment and business activities in Vietnam and investment and business activities from Vietnam to foreign countries.

The Draft Law also narrows and clarifies the scope of projects that must undergo policy approval. 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 that propose to use land and sea areas; projects that have a major impact on the environment, have the potential to seriously impact the environment, or are implemented in areas that affect national defense and security, etc.

Deputy Minister of Finance Nguyen Thi Bich Ngoc presents the Draft Law on Investment (replacement)

At the same time, the draft Law clearly stipulates exceptions for not implementing investment policy approval procedures; continues to promote decentralization and delegation of authority to approve investment policies; continues to simplify investment policy approval procedures...

Shifting strongly from management to development creation, minimizing procedures and conditions for business investment

The review report presented by the Chairman of the Economic and Financial Committee, Phan Van Mai, stated that the majority of opinions of the Standing Committee agreed with the political basis, legal basis and practical basis of continuing to perfect the legal framework on investment. At the same time, it was proposed to supplement a full and convincing explanation, a specific impact assessment report on the feasibility and risks of amending and supplementing policies in the law, especially the removal of the entire authority of the National Assembly in approving investment policies, managing foreign investment in Vietnam, overseas investment activities, and the process of transferring real estate business projects.

Chairman of the Economic and Financial Committee Phan Van Mai presented the Audit Report.

Regarding investment policy approval (Clause 1, Article 3; Article 25 - Article 28), it is recommended to review carefully, only consider cases that are absolutely necessary to follow the investment policy approval process. Redesign the regulations in the direction of clearly defining: the list of projects that must have investment policy approval, on that basis, clearly define projects that are subject to investment policy approval under the authority of the Central and local governments, projects that are subject to special investment procedures; List of projects that do not need investment policy approval, but need investment registration; the remaining projects are projects that do not need investment policy approval, do not need investment registration.

Amend the provisions in Clause 1, Article 3 in the direction of simplifying and simplifying the content of investment policy approval, limiting it to major orientation contents, preliminary plans, and initial basic elements of the investment project, distinguishing it from the content of state management in the next steps of project implementation.

Review and clarify in this draft Law which planning criteria are "determined in the planning", clearly define "the project's conformity with the planning" to ensure feasibility, handle problems that are bottlenecks in practice, and ensure consistency with regulations in the draft Laws being simultaneously submitted to the National Assembly...

Continue to research and thoroughly argue the basis and rationale for removing the entire authority of the National Assembly in approving investment policies; review and improve on the basis of ensuring the principle of maximum decentralization and delegation of power according to the motto "locality decides, locality does, locality takes responsibility". At the same time, there is correspondence with the provisions in the draft Law on Planning (amended) on the authority to approve planning used as the basis for assessing the suitability at the step of approving investment policies...

Concluding the session, Vice Chairman of the National Assembly Vu Hong Thanh stated that the National Assembly Standing Committee highly appreciated the proactive and close coordination of the Government, the Ministry of Finance, and the Standing Committee of the Economic and Financial Committee in consulting and completing the draft Law dossier.

Vice Chairman of the National Assembly Vu Hong Thanh concluded the meeting.

At the same time, it is recommended that the Government review and ensure full institutionalization of viewpoints, policies, guidelines, tasks and solutions on innovative thinking in law-making.

The Vice Chairman of the National Assembly stated that the completion of the draft Law must ensure three principles, which are to remove bottlenecks, create a stable and synchronous legal corridor, suitable for development requirements, and not create new problems. Strengthen decentralization, strongly shift from management to development creation, minimize procedures and conditions for investment and business. Ensure constitutionality, consistency with related laws and compliance with international commitments.

tv4(1).jpg — Delegates attending the meeting

The Vice Chairman of the National Assembly suggested continuing to perfect regulations on investment policy approval in the direction of only considering very necessary cases to follow the investment policy approval process.

Review and study the design of regulations in the direction of clearly defining 3 types of project categories that must have investment policy approval. Amend regulations in the direction of simplifying the content of investment policy approval, distinguishing it from the content of state management in the next steps to facilitate project implementation. Review and clarify the criteria determined in the planning, the project's conformity with the planning, ensuring feasibility, and handling problems that are bottlenecks in reality...

The Vice Chairman of the National Assembly proposed that the Government direct the drafting agency to preside over and coordinate with relevant agencies to fully absorb and explain the opinions of the National Assembly Standing Committee, the preliminary review opinions of the Economic and Financial Committee, the review opinions of the Ethnic Council and the National Assembly Committees to promptly complete the draft law dossier to submit to the National Assembly at the upcoming 10th Session.

Source: https://daibieunhandan.vn/chi-xem-xet-nhung-truong-hop-rat-can-thiet-moi-thuc-hien-quy-trinh-chap-thuan-chu-truong-dau-tu-10390707.html