The Investment Law (amended) needs to ensure consistency and feasibility when applied.

(Chinhphu.vn) - The draft law has many new points to remove difficulties and promote investment attraction, but there are still some contents that need to be reviewed and carefully adjusted to ensure consistency, transparency and feasibility when applied.

National Assembly delegate Do Thi Viet Ha ( Bac Ninh delegation) - Photo: VGP/Nguyen Hoang

It is necessary to ensure consistency and clarity in the provisions of the Investment Law (amended).

Discussing the draft Investment Law (amended), on the afternoon of November 11, National Assembly Delegate Do Thi Viet Ha (Bac Ninh delegation) said that the draft law has many new points to remove difficulties and promote investment attraction, but there are still some contents that need to be reviewed and carefully adjusted to ensure consistency, transparency and feasibility when applied.

Delegate Do Thi Viet Ha suggested that the Drafting Committee supplement and clarify concepts such as “free trade zone”, “concentrated digital technology zone”, “high-tech zone”... to avoid different interpretations and ensure consistency in the legal system. These are new concepts with a wide scope of regulation, so they need to be clearly defined in the law's interpretation of terms.

Regarding investment incentives, Ms. Ha said that the regulation on “labor-intensive investment projects” needs to be specified to avoid arbitrary application. According to the delegate, it is necessary to consider adding quantitative criteria or linking them to priority sectors such as processing, manufacturing, and digital transformation to encourage the use of highly skilled labor instead of just calculating by quantity.

Regarding regulations on forms of capital contribution, share purchase, and capital contribution purchase by foreign investors, delegates proposed clarifying the conditions for market access, and adding regulations to control areas that affect national defense and security. This helps to enhance the effectiveness of state management, especially in the context of many fluctuations in foreign investment flows.

One point emphasized by delegate Do Thi Viet Ha is the authority to approve investment policies. According to her, current regulations on approval authority in industrial parks, export processing zones, and high-tech zones still overlap. The delegate suggested clearly defining the authority with authority to approve planning, to avoid the situation where projects already have planning but still have to ask for opinions again, causing time extension.

Regarding the duration of investment projects, delegate Ha agreed with maintaining the maximum of 70 years for projects in difficult areas, but said that it is necessary to study specific regulations for projects with large investment capital and slow capital recovery to ensure feasibility and stability for investors.

The delegate also pointed out the difficulties in terminating investment projects, as the regulations between the Investment Law and guiding decrees are not consistent. She suggested that the Government promptly review and clearly stipulate the procedures and authority for notifying project termination to avoid overlaps between investment registration agencies and provincial People's Committees.

Finally, regarding the transitional regulations, delegate Do Thi Viet Ha proposed an amendment to only apply the deposit obligation to the remaining unimplemented investment capital, instead of applying it to the entire project, in order to reduce administrative burden and create conditions for ongoing projects to continue to be implemented effectively.

“The Investment Law is an important tool to unlock social resources. Therefore, it is necessary to ensure that new regulations are truly clear, consistent, easy to apply and contribute to promoting a transparent, competitive and effective investment and business environment,” the delegate emphasized.

Cut down on many procedures

Giving opinions on the Draft Law on Investment (amended), delegate Bui Thi Quynh Tho (Ha Tinh) commented that the draft Law cuts many procedures related to investment and business conditions; promotes decentralization and delegation of power in investment management.

Delegate Bui Thi Quynh Tho said that the draft Law omits investment incentives for projects with capital scale greater than 6,000 billion VND and revenue of over 10,000 billion VND. Instead, the draft Law adjusts towards large-scale investment projects and investment projects using a lot of labor according to the Government's regulations suitable for each period. Agreeing with this subject, the delegate said that the Government should be assigned to regulate it flexibly and in accordance with socio-economic activities in each period.

However, the draft Law adds Point d, Clause 2, Article 15 on “other forms of investment incentives according to the Prime Minister’s decision”. Delegate Bui Thi Quynh Tho is concerned about “other forms of investment incentives” and suggests more specific regulations to clearly identify the subjects related to these incentive policies.

Delegate Bui Thi Quynh Tho said that the draft Law needs to stipulate the form of investment support to have a legal basis to guide the implementation of support for related subjects to enjoy investment support policies. Therefore, the delegate suggested that the content of the form of investment support in Article 18 should be kept the same as the current Investment Law.

Hai Lien

Source: https://baochinhphu.vn/luat-dau-tu-sua-doi-can-bao-dam-dong-bo-kha-thi-khi-ap-dung-102251111202550147.htm