During the plenary session held at the Grand Hall on the morning of November 11th, the National Assembly reviewed the revised Investment Law.
Minister of Finance Nguyen Van Thang – Photo: VGP/Nhat Bac
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According to Minister of Finance Nguyen Van Thang, the revised law aims to institutionalize the Party’s resolutions, address institutional and legal bottlenecks, streamline investment and business procedures, and create a more favorable environment for citizens and enterprises.
It also seeks to refine regulations on conditional investment sectors, eliminate unnecessary or unreasonable industries, and improve the decentralization of management between central and local authorities to enhance state governance efficiency.
The law governs domestic and outbound investment activities, applying to investors and entities involved in such endeavors.
Investment approval processes should only be mandated in truly essential cases
Reviewing the draft, National Assembly Economic and Financial Committee Chairman Phan Van Mai supported the government’s rationale for expedited revisions. He confirmed the draft complies with legislative issuance regulations.
Chairman Phan Van Mai presents the review report – Photo: VGP/Nhat Bac
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The committee recommended further aligning the law with Party policies on economic innovation, private sector development, technological advancement, international integration, and national security. It stressed synchronizing policies with concurrent legislative drafts.
For investment approval processes, the committee urged meticulous review to restrict such requirements to genuinely necessary cases.
It also called for careful justification of removing the National Assembly’s approval authority, ensuring alignment with decentralization principles.
Article 3(1) should be simplified to focus on broad policy directions and clarify state oversight needs through investment approvals.
The draft must clarify “planning alignment” criteria to address practical bottlenecks while ensuring consistency with concurrent legislation.
Suggestions included limiting initial approvals to high-level plans (e.g., master plans) and specific sectors, avoiding excessive detail.
On investment incentives (Chapter III), the committee recommended refining sector prioritization criteria and delegating detailed lists to the government for periodic updates.
Regarding foreign investment management (Article 20), cautious review was advised for allowing foreign entities to establish businesses without prior investment projects.
– 10:45 11/11/2025
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