Enterprise law

Enterprise law needs fine-tuning (07-03-2005) HA NOI — The much-awaited unified Enterprise Law needs further modifications in order to get rid of administrative snags and create a truly level playing field for all businesses, said a conference organised to review the latest draft of the law. Representatives at the conference last Friday, which included members of Viet Nam’s business community and lawyers, acknowledged that the law would create a breakthrough in the country’s business environment. Director of the Trans-Pacific Service Company, Nguyen Minh Phu said the unified law would be a big step for all economic sectors to get on an even keel. "The draft law complies with international rules on business administration, and has satisfied all the demands of the country’s development process," Nguyen Dinh Cung, a member of the committee which drafted the law, said. The law, which merges existing laws, including the State-owned Enterprises (SOEs) Law, Foreign … [Read more...] about Enterprise law needs fine-tuning

Unified Enterprise Law under scrutiny (29-07-2005) HA NOI — The proposed changes to the unified Enterprise Law, now before the National Assembly Standing Committee, were put into doubt by Vice Chairman Nguyen Van Yeu yesterday. Yeu said he was confused about the changes during discussion of a preliminary report by the Economic Budgetary Committee. Attending a meeting of the NA’s Standing Committee to review both the unified Enterprise Law and the common Investment Law, he asked Planning and Investment Minister Vo Hong Phuc why the draft had dealt mostly with the regulation of non-State business when the law itself was supposed to apply to all kinds of enterprises. In reply, Phuc said the difficulty was in the pace of the equitisation of existing SOEs. "According to the plan this process will be completed in three years after the law comes into effect (later this year)," Phuc said. "SOEs will be subject to the new law after being converted to other … [Read more...] about Unified Enterprise Law under scrutiny

Investment, enterprise laws reviewed by NA (03-11-2005) HA NOI — The National Assembly early this week heard a series of reports on legislative work, including drafts of the long-awaited laws on investment and enterprise. Speaking at the 11th NA session, the Minister of Planning and Investment (MPI) Vo Hong Phuc affirmed that the new Enterprise Law would continue to nurture, expand and develop the rights and freedoms of the business sector. "The ask-and-give mechanism, unreasonable permits and other inconvenient procedures for enterprises will be removed, and business registration will replace the current licensing regime," Phuc said. NA approves 2006 budget The National Assembly on Tuesday passed the budget estimate resolution for next year, with overspending bound to not exceed 5 per cent of gross domestic product. The minister added that the Enterprise Law, applicable to businesses of all types, set a four year deadline for equitisation of … [Read more...] about Investment, enterprise laws reviewed by NA

Legislators yesterday urged the Government to ensure the draft Law on Support for Small- and Medium-sized Enterprises (SMEs) doesn't clash with other laws. — Photo baocongthuong.vn HÀ NỘI — Legislators yesterday provided the Government with feedback on the draft Law on Support for Small- and Medium-sized Enterprises (SMEs), urging the drafter to ensure it was consistent with other relevant legislation. With six chapters and 47 articles, the bill aims to enhance the efficiency of support for SMEs in line with market principles, while ensuring that it does not violate the country’s international commitments. It is also designed to create a legal framework to rally public support for the effort, the law drafting board said. During their fourth working session in Hà Nội, the National Assembly Standing Committee focused discussion on the necessity of the law. NA Chairwoman Nguyễn Thị Kim Ngân was concerned about the compatibility between the bill and other laws, one of them … [Read more...] about Lawmakers assess draft law’s impact on SMEs

NA deputies stress enterprise freedom (17-08-2005) Nam Dinh Iron Wire Joint Stock Company has recorded a turnover of VND55 billion in the first five months of this year, an increase of 18 per cent for the same period last year. — VNA/VNS Photo Hoai Nam HA NOI — National Assembly deputies stressed the importance of ensuring freedom and independence in the management of enterprises when they discussed the draft Enterprise Law yesterday. They applauded the draft law for defining clearer, simpler, and more transparent administrative procedures to facilitate enterprises in entering the market. Many deputies acknowledged that provisions of the draft law reflected a principle of State respect for freedom and self-determination in the management of enterprises. The draft law would also facilitate a fair and competitive business environment amongst enterprises themselves, said deputies. Investors and domestic and foreign-invested enterprises in various … [Read more...] about NA deputies stress enterprise freedom

Cinema Law aims to boost film industry (27-08-2005) HA NOI — Proposals for a draft Cinema Law were discussed by the National Assembly’s Standing Committee in Ha Noi yesterday. The Culture and Information Ministry will have responsibility for writing the law and delegates were told it was intended to create an effective industry and an open legal framework for it to mobilise the country’s intellectual and financial potential. The deputies agreed that Viet Nam’s cinema industry had failed to match the demands of a market economy and that the industry was poorly developed. They also discussed the issuing of licences for films and film makers. Some said the establishment of film makers, together with the import-export of film was covered by the Enterprise Law, and so there was no need for State agencies to licence film makers. The new law should not provide for the preview of screenplays by the State, said the assembly’s Culture, Education, Youth and Children … [Read more...] about Cinema Law aims to boost film industry

NA aims to pass 14 laws this fall (29-08-2005) HA NOI — The National Assembly plans to pass 14 laws and one resolution at a meeting scheduled for October 18 in Ha Noi, according to a communique released at the end of the 32nd session of the NA Standing Committee in Ha Noi from August 22-27. The laws include the Law on Environmental Protection (revised), the Law on Bills of Exchange, the Law on Intellectual Property, the Law on e-Transaction, the Law on Housing, the Law on Youth, the Law on People’s Police, the Law on Practice of Thrift and Anti-Corruption, the Enterprise Law, and the Investment Law; and the resolution is on a law and ordinance programme for 2006. During the meeting, the NA will also offer comments on nine bills and hear reports on the implementation of the State Budget in 2005, in addition to the orientation, tasks and and estimation of the State Budget for 2006. During last week’s meeting, the Standing Committee debated seven draft laws: the draft … [Read more...] about NA aims to pass 14 laws this fall

Deputies mull laws on enterprises, HIV/AIDS (08-11-2005) Ha Noi — The Enterprise Law is nearing its final form before its expected approval by the National Assembly, while yesterday’s legislative session also saw deputies discuss the draft Law on HIV/AIDS. In a two-day debate concluding yesterday, numerous deputies argued that workers’ rights should be covered in the new Enterprise Law as they were the main subjects in the enterprises. Deputy Cu Thi Hau, Phu Tho, said the unified Enterprise Law (EL) focused too much on the rights of investors and enterprise managers and almost "forgot" the most important element of an enterprise, the workers. Hau said some 900 industrial strikes had been reported nationwide with a very simple cause: workers’ rights had been neglected. With this argument, Hau deemed it necessary to include a provision in the law about workers’ rights in order to prevent future industrial strikes and secure production stability. Regarding business … [Read more...] about Deputies mull laws on enterprises, HIV/AIDS

NA mulls Enterprise, Investment Laws (22-11-2005) HA NOI — Eleven contentious provisions of the new Enterprise Law were debated in the National Assembly yesterday. The provisions, raised by the deputies when the proposed changes were first discussed earlier this month, ranged from the liabilities of State Owned Enterprises (SOEs) and the protection of minority share holders to where shareholder meetings should be held. Economic and Budgetary Affairs Committee Chairman Nguyen Duc Kien assured the deputies that all 11 provisions had been reviewed. The committee believed that having one form for both business registration and investment was a positive step toward administrative reform and was intended to make it easier for enterprises to enter the market, he said. The exclusion of co-operatives in the new law divided the assembly. Deputy Truong Van Hien, central Nghe An Province, agreed with the decision saying that the activities of co-operatives were quite … [Read more...] about NA mulls Enterprise, Investment Laws

Government publicises approval of five new laws (22-12-2005) HA NOI — Five laws approved by the National Assembly on November 29 have been promulgated by President Tran Duc Luong. The Law on Amendments to the Special Consumption Tax and Value-Added Tax Laws will be effective from January 1. The Tendering Law will be effective from April 1 and the Enterprise, Intellectual Property Rights and Investment Laws will all become effective from July 1 next year. The promulgation was announced at a news conference held by the president’s office yesterday. The new Enterprise Law, approved by 78 per cent of the deputies, supersedes the Enterprise Law of 1999, the State-owned Enterprise Law of 2003, and related laws. It applies to domestic and international enterprises and is expected to provide business with even greater impetus. It also allows the Government to issue instructions for the use and management of State capital. The Investment Law, approved by 77 per … [Read more...] about Government publicises approval of five new laws