Remove barriers, build trust

Recently, General Secretary To Lam chaired a meeting with the Government Party Committee Standing Committee on the contents of four draft laws, including the Investment Law (amended). The message that the Party leader emphasized was very clear: The amended law must thoroughly implement the spirit of Resolution 68-NQ/TW on private economic development, ensuring a transparent business environment, low costs, meeting international standards and being globally competitive.

The highlight is the requirement to shift the management of investment and business conditions from “pre-inspection” to “post-inspection”, associated with increased supervision. This is not just a technical adjustment, but a change in management thinking. Instead of forcing businesses to go through a series of procedures to enter the market, the State will let them proactively start their businesses, while focusing resources on monitoring the operation process and handling violations when they arise.

This new management method is more convenient for businesses but does not mean laxity. On the contrary, it is more modern and effective thanks to the application of technology and data. A comprehensive business database system, online reporting mechanism, and artificial intelligence risk analysis tools will help the State manage transparently, reduce administrative procedures while still ensuring social order and safety.

Along with that, the key issue is to clearly identify the conditional business sectors and occupations. The General Secretary pointed out: Only areas related to national defense, security, social order, morality and public health need to be controlled; the rest must be thoroughly cut down in accordance with the Party and State's policies. This is a reasonable way to divide, aiming to end the situation of arbitrarily "installing" additional conditions that cause trouble for businesses. When areas that do not need to be bound are "untied", the market and healthy competition will filter themselves, promoting creativity and innovation.

This amendment to the Investment Law is therefore not only a completion of a law, but also a strong reform message sent to the domestic and foreign business community. Vietnam affirms its commitment to building a stable and transparent legal environment. Simpler market entry procedures, reduced costs, and open opportunities will be a driving force to strongly attract investment capital flows, contributing to encouraging the spirit of entrepreneurship and innovation.

However, the post-audit mechanism also poses new requirements. The State needs to invest heavily in a modern monitoring system, and at the same time train a team of civil servants with the capacity to analyze and assess risks. Without preparation, the risk of laxity or "letting go" may occur. On the business side, in a more transparent environment, compliance with the law must become a principle, because any violation can be easily detected and handled.

Institutional reform cannot stop at slogans. It must be demonstrated by concrete actions in each regulation and procedure. If the Investment Law (amended) this time really cuts unnecessary conditions and applies a transparent post-audit mechanism, we will be able to remove a major bottleneck, free up resources and strengthen the confidence of the business community.

In the context of fierce global competition, Vietnam's economy cannot continue to be held back by the "ask - give" mechanism. A transparent, fair and modern investment environment is the foundation to promote sustainable growth and raise the country's position. The Investment Law (amended) this time is expected to become a strong boost, opening up new development opportunities for the country.

Source: https://daibieunhandan.vn/go-bo-rao-can-kien-tao-niem-tin-10387402.html