According to the Report on the Reception, Explanation, and Amendment of the Draft Law, after incorporating the opinions of National Assembly deputies discussed in committees and in the plenary session, and the opinions of the Economic and Financial Committee, the Government has incorporated and amended 9 groups of issues, explained and clarified 8 groups of issues, and noted one group of issues for overall amendment. The draft Law has been revised to ensure compliance with the Constitution, the authority of the National Assembly, and related laws, while also meeting the practical requirements for the development of a safe and stable insurance market.
The supplementary law stipulates that organizations and individuals have the right to participate in contributing capital to establish, manage, and control insurance companies, reinsurance companies, insurance brokerage companies, mutual organizations providing microinsurance, and foreign branches in Vietnam, except in cases where organizations and individuals do not have the right to establish and manage businesses in Vietnam according to the provisions of the Enterprise Law.
The amended and supplemented Law stipulates that points b and c, clause 3, Article 63 are as follows: non-life insurance companies and branches of foreign non-life insurance companies that conduct business in health insurance products with a term of one year or less and term life insurance products with a term of one year or less; and health insurance companies that conduct business in term life insurance products with a term of one year or less.
The Law amending and supplementing a number of articles of the Law on Insurance Business will take effect from January 1, 2026.
* In addition, the National Assembly voted to approve the Resolution amending and supplementing a number of articles of Resolution No. 81/2023/QH15 dated January 9, 2023, of the National Assembly on the National Master Plan for the period 2021-2030, with a vision to 2050, with 443 out of 443 participating delegates voting in favor, achieving a 100% approval rate. The Resolution takes effect from the date of its approval by the National Assembly.
The resolution sets out the overall goal: striving to become a developing country with modern industry and high middle income by 2030; establishing a new growth model with science and technology, innovation, and digital transformation as the main driving forces; an efficient, unified, and sustainable national development spatial organization model, with dynamic regions, economic corridors, and growth poles playing a leading role in socio-economic development and enhancing national competitiveness; having a synchronous and modern basic infrastructure network; ensuring major balances and enhancing the resilience of the economy; ensuring energy security, food security, and water security; protecting the ecological environment and adapting to climate change; comprehensively developing human resources, improving the material and spiritual lives of the people; ensuring national defense and security; and enhancing Vietnam's position and prestige in the international arena.
The specific economic targets outlined in the Resolution include: striving for an average annual growth rate of gross domestic product (GDP) exceeding 8.0% during the 2021-2030 period; with a growth rate of 10% or higher during the 2026-2030 period. By 2030, GDP per capita at current prices will reach approximately US$8,500. The service sector's share of GDP will exceed 50%, the industrial and construction sector over 40% (including approximately 28% for manufacturing), and the agriculture, forestry, and fisheries sector below 10%. The average annual growth rate of social labor productivity will reach approximately 7% during the 2021-2030 period; with a growth rate exceeding 8.5% during the 2026-2030 period; and the contribution of total factor productivity (TFP) to growth will exceed 55%…
The resolution also clearly states the content regarding the continued promotion of the advantages of each socio-economic region; focusing on developing the two dynamic regions in the North and South, linked to the two growth poles of Hanoi and Ho Chi Minh City, the North-South economic corridor, the Lao Cai - Hanoi - Hai Phong - Quang Ninh economic corridor, and the Moc Bai - Ho Chi Minh City - Bien Hoa - Vung Tau economic corridor with synchronous and modern infrastructure, high growth rates, and significant contributions to the overall development of the country…
Also at the session, the National Assembly voted to pass the following laws: the Law amending and supplementing a number of articles of the Law on Statistics; the Law amending and supplementing a number of articles of the Law on Prices; and the Law amending and supplementing a number of articles of the Law on Public Debt Management.
Source: https://baotintuc.vn/thoi-su/ky-hop-thu-10-quoc-hoi-khoa-xv-phat-trien-thi-truong-bao-hiem-an-toan-on-dinh-20251210194650688.htm
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