Need specific regulations on adjustment, extension of progress, transfer of investment projects

On the morning of May 13, the Provincial National Assembly Delegation held a Conference to collect comments on the draft Law on Enterprises (amended) and the Law on Investment (amended).

Deputy Heads of the Provincial National Assembly Delegation Nguyen Thanh Hien and Tran Van Mao chaired the conference. Photo: Thanh Le

At the conference, there were 11 comments on the structure, legislative techniques, and legal status of the two amended and supplemented laws this time.

Regarding the Investment Law, there are currently many provisions that are no longer appropriate and lack consistency; the relationship between the Investment Law and related laws and international treaties. Most opinions suggest that the Investment Law should be divided into two parts: Public Investment and Business Investment. It is necessary to consider the industries that are prohibited from business investment; types of projects that are given incentives in industrial clusters...

“Regarding regulations on project transfer, the Law needs to have more specific and strict regulations on the content of adjustment, progress reduction, and transfer of investment projects. It should stipulate norms and project implementation time to avoid cases of suspended projects and suspended planning.

Along with that, there needs to be sanctions to handle suspended projects, because in reality, the projects that are recovered are those that are voluntarily returned by the investors or cannot be implemented" - Deputy Head of the Economic and Budget Committee of the Provincial People's Council Dang Quang Hong expressed.

Giving opinions on the Draft Law on Enterprises (amended), delegates suggested that the reviewing agency and the drafting agency should continue to review to ensure the consistency of this law with other relevant laws.

The shortcomings include the lack of clear regulations on the scope of regulation for business households, business types, and State support policies for business types. It is necessary to supplement regulations on anti-corruption in the Enterprise Law; supplement regulations on business households being managed as enterprises to control revenue and prevent tax losses.

Thai Embassy survey at Cua Lo port. Illustration photo: Thanh Le

Delegate Nguyen Thi Giang (Department of Planning and Investment) said that there should be regulations on business households in the Draft Law, because inheriting old legal documents creates a legal corridor for this model to operate, creates fairness between types, and enhances the legal status of business households.

However, in the long term, delegates proposed to develop a separate legal document regulating this model appropriately, because the nature of business households is not enterprises, so they are not within the scope of regulation and applicable subjects. On the other hand, the volume of these entities is very large, so there should be separate regulations.

Delegate Nguyen Thi Giang (Department of Planning and Investment) commented on the draft Law on Enterprises. Photo: Thanh Le

Concluding the working session, Deputy Head of the Provincial National Assembly Delegation Tran Van Mao acknowledged and highly appreciated the delegates' contributions; at the same time, the Provincial National Assembly Delegation will absorb and synthesize the opinions to report to the National Assembly Standing Committee for consideration and approval at the upcoming 9th session of the 14th National Assembly.