The Government proposes many cases where investment policy approval procedures are not required.

On the morning of November 11, authorized by the Prime Minister, Minister of Finance Nguyen Van Thang submitted the draft Investment Law (amended).

Minister of Finance Nguyen Van Thang - Photo: National Assembly

According to the minister, in addition to positive results, the Investment Law has revealed a number of limitations related to regulations on investors' freedom of business, preferential policies, investment support, procedures for carrying out investment and business activities in Vietnam, and investment from Vietnam to foreign countries...

The investment and business environment is becoming less attractive, narrowing investment regulatory requirements.

In addition, the Railway Law 2025 and the Investment Law 2020 have different provisions on how to handle assets after the project's operating period expires. Therefore, to attract investors to participate and ensure the project, it is necessary to unify and synchronize, and consider amending and supplementing related regulations.

Mr. Thang said that these restrictions have made the business investment environment less attractive to investors, especially in the context that Vietnam is facing increasingly fierce competition to attract foreign investment from countries around the world and in the region.

Accordingly, the draft law amends the regulations on investment policy approval procedures in the direction of narrowing and clarifying the scope of projects that must undergo investment policy approval. Specifically, this regulation only applies to 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, potentially have a serious impact on the environment, or are implemented in areas that affect national defense and security...

Cases that do not have to carry out investment policy approval procedures include: Investment projects with requests for the State to allocate land, lease land, or allow change of land use purpose of households and individuals that are not required to have written approval from the Provincial People's Committee according to regulations of the law on land;

Investment projects for construction of technical infrastructure of industrial clusters; Investment projects for mineral exploitation (excluding offshore mineral exploitation investment projects); Investment projects for construction of houses (for sale, lease, lease-purchase), urban areas.

Promote decentralization and delegation of power to the Prime Minister and provincial chairmen

The bill will also promote decentralization and delegation of authority in approving investment policies. Specifically, the bill only stipulates the authority to approve investment policies of the Prime Minister and the Chairman of the Provincial People's Committee and decentralizes all projects under the authority of the National Assembly to the Prime Minister.

For important projects, there must be special mechanisms and policies different from the provisions of laws, ordinances, and resolutions of the National Assembly, the National Assembly Standing Committee, and the Government to approve the investment policy after receiving the consent of the National Assembly Standing Committee. The Chairman of the Provincial People's Committee also has the authority to approve the project investment policy on behalf of the Provincial People's Committee.

Investment policy approval procedures will continue to be simplified, eliminating some broad investment policy approval appraisal contents that overlap with appraisal contents in implementation steps.

For example, content related to technology, housing progress...; determining the content of assessing the project's conformity with planning directly related to the project implementation proposal (such as industry planning, provincial planning...).

In addition, the bill also 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 under special investment procedures (green channel).

Foreign investors are allowed to establish economic organizations without having to have an investment project before establishment, but must meet the conditions for market access. This regulation aims to help the investment and business environment become more open and attractive to foreign investors.

Examining the draft law, Chairman of the Economic and Financial Committee Phan Van Mai said that it is necessary to continue to carefully review and only in cases of real necessity should regulations be made on the implementation of investment policy approval. In particular, it is necessary to carefully study the removal of the entire authority of the National Assembly on this issue.

Regarding the list of conditional investment and business sectors, the appraisal agency proposed to continue to study, review, streamline, and reduce conditional investment and business sectors, substantially reduce investment and business conditions, and only retain the truly necessary conditions for constitutional reasons of ensuring national defense, security, order, ethics, and public health...

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Source: https://tuoitre.vn/chinh-phu-de-xuat-nhieu-truong-hop-khong-can-lam-thu-tuc-chap-thuan-chu-truong-dau-tu-2025111109582019.htm