Topic: Procedures

The new regulation aims to facilitate foreign capital flow into Vietnam’s stock market.

Deputy Prime Minister Le Minh Khai has signed Directive No. 17/CT-TTg dated October 5, 2022 from the Prime Minister on accelerating the allocation and completion of investment procedures for projects in the medium-term public investment plan for the 2021-2025 period. He has called for investment to focus on key industries and sectors and growth poles to improve the efficiency of public investment capital. Leaders from ministries, branches, and localities must direct and inspect projects in accordance with approved planning.

The National Assembly (NA) Standing Committee held a meeting on September 19 to discuss the revised Law on Electronic Transactions, which is expected to be submitted to the NA at its October meeting. The NA Chairman emphasized that the revised Law must ensure information security, citizenship, and privacy, and not generate additional procedures and conditions.

Addressing the Vietnam Socio-Economic Forum 2022, Mr. Nguyen Quoc Hiep, Chairman of the Vietnam Association of Construction Contractors, proposed several solutions to speed up the disbursement of public investment capital. He said the first bottleneck is that payment and settlement procedures and investment procedures remain cumbersome, and the assignment of responsibilities has not been clarified. The second is that many public construction unit prices are low, some at just one-third of actual implementation, so many contractors do not want to be involved.

Deputy Prime Minister Le Van Thanh has approved a plan to reduce and simplify regulations relating to business activities within the scope of the State management functions of the Ministry of Natural Resources and Environment, with a roadmap for implementation from 2022 to 2025.