The amended law removing 62 conditional business sectors and revising regulations governing another 14, representing a 28.28% reduction compared with the 2025 Investment Law.
A recent Vietnam Economic Times / VnEconomy forum was among the best opportunities for stakeholders to comment and contribute opinions on substantive revisions to the Law on Petroleum and later, the amended law was passed by the National Assembly on August 23.
The amended Petroleum Law focuses on five major policy groups: simplifying procedures and increasing decentralization; refining regulations on petroleum contracts and activities; investment incentive policies; developing the value chain, high-tech technical services, and offshore energy; and establishing a legal framework for emission reduction and Carbon Capture and Storage (CCS).
State budget revenue is expected to decline by approximately VND 3.191 trillion ($112.12 million) in 2026 and VND 3.51 trillion ($134.2 million) in 2027.
During the session opened in Hanoi on August 3, lawmakers are scheduled to consider and decide on a series of items, including 15 draft laws, four draft normative resolutions and a range of major issues concerning national development.
A central focus of the session will be decisions on the organizational structure of the state apparatus, as well as the election and approval of senior personnel — matters considered critical to effective governance throughout the term.
At the first session of the newly elected National Assembly, which is scheduled to open on April 6, several top leadership positions of Vietnam’s State apparatus, including the State President, the Prime Minister, and the National Assembly Chairperson, will be elected.
Upon completion, the route will facilitate a direct connection from Hanoi to Vientiane (Laos), while simultaneously linking with the Eastern North-South Expressway and the Ho Chi Minh Road.
According to the verification agency, all three amendments proposed by the Government are provisions that were recently revised in the 2024 Value Added Tax Law, which was passed at the 8th session and took effect on July 1, 2025.