Topic: Amendment

The revised Law on Cooperatives will be submitted to the National Assembly (NA) for discussion at its October meeting. At a meeting on September 20, the NA Standing Committee said that with specific regulations on resource mobilization and State support, the amendments will contribute to promoting the development of cooperatives in a dynamic, efficient, and sustainable manner.

Valuation is revealing negative effects that distort economic transactions, especially causing loss of State assets in bidding, procurement, equitization and divestment. The Ministry of Finance is collecting comments on the Draft Amendment of the Law on Prices with many new regulations to prevent this problem.

The Ministry of Justice will submit a draft Decree to the government amending and supplementing a number of articles on online auctions. The draft stipulates the order for conducting online auctions and establishing a unified online auction site nationwide that will be built, operated, and managed by the Ministry.

According to Standing Member of the Party Central Committee’s Secretariat Vo Van Thuong, many new issues are contained in the revised draft Land Law that will create positive changes, such as the abolition of land price brackets and the determination of land prices according to market principles. He suggested striving to complete the amendments by 2023.