Law review

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

Law firm takes 1st place again (23-02-2005) HA NOI — A leading international journal of corporate finance and legal transactions, International Financial Law Review , has named Viet Nam’s YKVN as the "National Law Firm of the Year" for the second time in a row. The award is given annually to the local firm with the best track record of giving law consultation on international finance deals related to debt, equity, project finance, restructuring and securities deals. "The nomination is a great honour for YKVN since it again places YKVN shoulder-to-shoulder with the leading law firms in Asia," said the law firm’s managing partner, Truong Nhat Quang. YKVN and the national winners from 13 other countries in the region will be nominees for the Asia-Pacific "Regional Law Firm of the Year" award. — VNS … [Read more...] about Law firm takes 1st place again

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

Small- and medium-sized enterprises account for around 97 per cent of the firms in Việt Nam. — VNA/VNS Photo Viet Nam News HÀ NỘI — With 83.5 per cent of approval votes, the National Assembly on Monday passed the Law on Support for Small- and Medium-sized Enterprises (SMEs). The law, with four chapters and 35 articles, regulates principles, contents and resources to support SMEs, as well as responsibilities of agencies, organisations and individuals relating to the support for SMEs. Under the law, SMEs include micro-enterprises and small- and medium-sized enterprises with the average number of employees with social insurance being less than 200 per year. Also, these enterprises must meet one of the following two criteria, including the total investment capital not exceeding VNĐ100 billion (US$4.4 million) and the total revenue of the previous year not exceeding VNĐ300 billion; or the enterprises must be as defined in the fields of agriculture, forestry, fisheries, and … [Read more...] about NA passes law on supporting SMEs

If the Law on Planning is not passed during the next session of the National Assembly (NA), many opportunities would be missed, as the law relates to the establishment of a planning strategy for the next five years, NA Chairwoman Nguyễn Thị Kim Ngân said at a meeting yesterday. — VNA/VNS Photo Nguyễn Dân HÀ NỘI – If the Law on Planning is not passed during the next session of the National Assembly (NA), many opportunities would be missed, as the law relates to the establishment of a planning strategy for the next five years, NA Chairwoman Nguyễn Thị Kim Ngân said at a meeting yesterday. The NA Standing Committee (NASC) yesterday continued its session discussing the draft Law on Planning, which faces many differing opinions. The draft law, which has been reviewed by the NA in previous sessions, in principle met the demands of developing a legal framework regulating planning activities, said the NA Economic Committee Chairman Vũ Hồng Thanh. However, it needed to be revised … [Read more...] about NASC urges passing planning law

Minister of Justice Lê Thành Long speaks at the 22nd sitting of the National Assembly Standing Committee in Hà Nội yesterday. — VNA/VNS Photo An Đăng Viet Nam News HÀ NỘI — Law drafting agencies should ask for more time to prepare documents for laws if necessary instead of trying to complete the process in six months, Minister of Justice Lê Thành Long said at a National Assembly Standing Committee (NASC) meeting on Monday. The meeting discussed measures to ensure the progress and quality of law and ordinance projects, solutions to deal with delays in issuance of those projects’ elaborating documents and how to promote law dissemination and education among citizens. This was the first time the NASC ran an immediate question-and-answer (Q&A) session during which legislators asked short and clear questions no more than a minute long, and the respondents immediately provided answers no more than three minutes long. NA deputy Trần Văn Quý of Hưng Yên Province pointed out … [Read more...] about Take time to get laws right: Justice Minister

The National Assembly Standing Committee yesterday agreed to introduce a draft law on amending 13 planning-related laws to the agenda of next week’s National Assembly plenary meeting. — VNA/VNS Photo Trọng Đức HÀ NỘI — The National Assembly Standing Committee yesterday agreed to introduce a draft law on amending 13 planning-related laws to the agenda of next week’s National Assembly plenary meeting. The amendments are expected to make the laws match with the Law on Planning that the National Assembly approved last November, and will take effect next year. The 13 laws that are being suggested for amendments include the Law on Chemicals, the Law on Electricity, the Law on Food Safety, and others. According to Minister of Planning and Investment Nguyễn Chí Dũng, the proposed draft consists of 14 Articles, of which, 13 contain suggestions for amendments, while the other regulates law enforcement. If approved, the law would remove the need for development and investment … [Read more...] about 13 planning laws to be amended

National Assembly (NA) deputies on Wednesday agreed that it is necessary to make amendments to the Law on Trade Unions to better protect labourers working for private enterprises. — VNA/VNS Photo Phương Hoa HÀ NỘI — National Assembly (NA) deputies on Wednesday agreed that it is necessary to make amendments to the Law on Trade Unions to better protect labourers working for private enterprises. Deputy Phạm Minh Chính from Quảng Ninh Province said the number of private enterprises has increased, meaning the number of labourers working for the private sector is now higher than that of the State-owned sector. The current Law on Trade Unions focuses on protecting rights of State-owned enterprise labourers, but not so much for private sector labourers. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership ( CPTPP) signed by Việt Nam and ten other countries allows labourers to establish their own organisations, which means trade unions will no … [Read more...] about NA reviews law on unions, education

A deputy debates changes made in education law during an NA meeting on Monday in Hà Nội. -- VNS/VNA Photo Phương Hoa Viet Nam News HÀ NỘI -- Viet Nam has carried out seven mass amnesties during the last 10 years with more than 87,000 convicts released early, of which 50,000 were reported to have successfully reintegrated into society and found employment, stated a report presented to the National Assembly during a meeting in Hà Nội on Monday. Deputy Trần Thị Hiền said it is necessary to distinguish between the amended Laws on Amnesty and the country’s general policies on clemency. She advised amnesty laws should be designed to make sure individuals who are truly deserving are included and short listed for early release. A convict must serve at least half or two-thirds of his or her sentence, and convicts with life sentences must serve at least 16 years to be eligible for parole reviews. Convicts with corruption charges must return their illicit gains before being … [Read more...] about NA discusses amnesty, education law

Minister of Planning and Industry Nguyễn Chí Dũng speaks at the afternoon session of the National Assembly on Tuesday.– VNA/VNS Photo Trọng Đức HÀ NỘI – Minister of Planning and Industry Nguyễn Chí Dũng asked the National Assembly to review the draft of the amended Law of Public Investment on Tuesday afternoon. The draft law contains six chapters and 104 items and is expected to adjust some items of the original Law of Public Investment No 49/2014/QH13, which was dated June 18, 2014 and took effect in January 2015. “After three years of implementation, the Law of Public Investment has raised the efficiency of public investment and public capital use,” Dũng said. “It has helped government agencies become transparent in their use of State capital, pushed efforts to fight corruption and overspending and saved some budget expenses in civil procurement,” he said. However, Dũng said the existing law had room for improvement. The team that developed it lacked practical … [Read more...] about Draft law on public investment proposed