Amending the Investment Law: Designing a “green channel” to attract “eagles”

Yesterday (November 6), discussing in the hall about the draft Law amending and supplementing a number of articles of the Law on Planning, the Law on Investment, the Law on Investment under the form of public-private partnership and the Law on Bidding, many delegates highly appreciated the draft law for adding regulations on special investment procedures, aiming to shorten the time for project implementation, at the same time, creating conditions to attract high-quality FDI.

The National Assembly discussed the draft Law amending and supplementing a number of articles of the Law on Planning, the Law on Investment, and the Law on Investment.

Last June, the National Assembly passed Resolution 136 to pilot a number of specific mechanisms and policies for the development of Da Nang , including the establishment of a Da Nang free trade zone. However, incentives for free trade zones are still lacking in the draft law. Therefore, delegates believe that in order to attract high-quality FDI, the draft needs to add provisions so that free trade zones, concentrated information technology zones, or high-tech projects... can all enjoy special investment procedures.

According to Minister of Planning and Investment Nguyen Chi Dung, regarding the creation of a mechanism to attract “eagles”, the drafting agency is currently prioritizing the design of a “green channel” in licensing projects, meaning that investors in high-tech projects will be granted investment registration within 15 days, instead of nearly 300 days as before. This is one of the strong breakthroughs in draft 1 of the law amending 4 laws related to the investment sector.

Van Hung

Source: https://danangtv.vn/view.aspx?ID=153229