Carefully review and evaluate the impact of some new policies

Many delegates unanimously agreed with the necessity of amending the draft Law on Public Investment (amended); and the draft Law amending and supplementing a number of articles of the Law on Securities, the Law on Accounting, the Law on Independent Auditing, the Law on State Budget, the Law on Management and Use of Public Assets, the Law on Tax Administration and the Law on National Reserves.

On the afternoon of October 29, the National Assembly discussed in groups: the Draft Law on Public Investment (amended); and the Draft Law on amending and supplementing a number of articles of the Law on Securities, the Law on Accounting, the Law on Independent Auditing, the Law on State Budget, the Law on Management and Use of Public Assets, the Law on Tax Administration and the Law on National Reserves.

Both of the above draft laws were submitted by the Government on the same morning.

Chairman of the Vietnam Fatherland Front Central Committee Do Van Chien and delegates attending the discussion session at Group 3 (Photo: Quang Vinh)

Politburo member, Party Central Committee Secretary, President of the Vietnam Fatherland Front Central Committee Do Van Chien attended the discussion session at Group 3 including National Assembly delegations: Nghe An, Bac Giang , Quang Ngai.

Ms. Huynh Thi Anh Suong speaks (Photo: Quang Vinh)

Regarding the draft Law on “1 law amending 7 laws”, Deputy Huynh Thi Anh Suong (Quang Ngai Delegation) proposed that the State Budget Law should be supplemented with a provision that provinces with high annual import-export tax revenue should be researched and created conditions for the provinces to enjoy this increased revenue. Thereby, creating conditions for provinces with revenue sources to reinvest in socio-economic development, as well as for provinces to have more motivation to collect, contributing to the country's budget.

Ms. Tran Thi Hong An speaks (Photo: Quang Vinh)

Deputy Tran Thi Hong An (Quang Ngai Delegation) agreed to amend and promulgate the Law "1 law amending 7 laws" to institutionalize the Party's policies in areas such as: securities; accounting; independent auditing; state budget; management and use of public assets; tax management; national reserves.

Ms. An acknowledged that timely law amendments will remove obstacles and overlaps in current laws, creating favorable conditions for production, business and development of the country in the new period.

However, according to Ms. An, because the law affects many issues and fields, including the State budget, it needs to be carefully considered, especially some new policies whose impacts have not been fully assessed. Therefore, the drafting agency needs to clarify the new issues and have accompanying Decrees detailing the implementation so that after the law is promulgated, it can be implemented immediately.

Ms. An also suggested that the drafting committee should pay attention to the issue of foreign capital flowing into the market, diversifying investors to contribute to promoting economic growth, creating more jobs in the context of deep international integration.

Mr. Tran Van Tuan speaks (Photo: Quang Vinh)

Meanwhile, Deputy Tran Van Tuan (Bac Giang Delegation) emphasized that amending the Law on Public Investment in the current context is extremely necessary to remove many difficulties and obstacles in investment, which is considered a "hot" issue. If this bottleneck is removed, it will create development opportunities for localities and the country. Therefore, important national projects are decided by the National Assembly. Group A projects are decided by the Prime Minister, while Group B and C projects are assigned to localities.

Mr. Tuan assessed that the classification into groups A, B, C helps to decentralize the decision-making process for competent authorities to facilitate the process of site clearance and project investment implementation. "With available land, the locality is looking forward to it so that investors can feel secure in investing," said Mr. Tuan.

Delegate Leo Thi Lich (Bac Giang Delegation) also stated that the Law on Public Investment needs to be amended, but it should be considered to only amend urgent issues. Ms. Lich expressed that there are many issues that need to be resolved due to difficulties in the past, such as group A projects. In particular, the regulation requires 6 years to complete implementation, but Bach Mai Hospital, Facility 2, and Viet Duc Hospital, Facility 2 were built in 2015, and after 9 years, there is still a backlog of group A public investment. Up to now, Viet Duc Hospital, Facility 2 has only disbursed 57%, because the construction time is prolonged, the estimate must be adjusted and it has not been completed yet. These are all national and inter-regional projects. Therefore, any content that has been found to be inappropriate and difficult in the past needs to be amended and included in the law so that it can be implemented immediately.

Ms. Nguyen Van Chi speaks (Photo: Quang Vinh)

From the review process of both draft laws above, Deputy Nguyen Van Chi (Nghe An Delegation) said that the Law on Public Investment has changed the mechanism for classifying group A, B, C projects based on GDP growth. However, it is necessary to supplement and evaluate the impact of criteria for groups A, B, C to see how many projects are under the authority of the National Assembly, how many projects are under the authority of the Prime Minister, and how many projects are under the authority of the People's Councils of provinces.

Ms. Chi also said that "capital appraisal" is the soul of the Investment Law, thereby preventing widespread investment, each province doing a little bit, leading to widespread and ineffective investment.

Mr. Tran Quang Phuong speaks (Photo: Quang Vinh)

Vice Chairman of the National Assembly Tran Quang Phuong emphasized that the inclusion of the above two Law projects in the agenda of this session is a practical requirement. Therefore, only necessary and urgent things will be amended to deal with current difficulties and bottlenecks such as the investment environment issue. “What is mature, clear, and meets the conditions will be regulated. Many practical problems already exist, but how to resolve the difficulties, ensure state and social management, and not create loopholes for policy exploitation. The National Assembly is determined to innovate the thinking of law-making to resolve difficulties, but the regulations must be mature, clear, and agreed by the majority of National Assembly deputies. We absolutely will not legalize violations with profit-making motives,” Mr. Phuong emphasized.

Source: https://daidoanket.vn/xem-xet-danh-gia-ky-luong-tac-dong-mot-so-chinh-sach-moi-10293366.html