AusCham participates in Meeting with the National Assembly’s Economic Committee (NAEC)

On Thursday, October 3rd, AusCham Vice-President Mrs. Natalie Fairlie, joined Vietnam Business Forum (VBF) Consortium delegation, to have a productive meeting with the National Assembly’s Economic Committee (NAEC) at the NA Building in Hanoi. This meeting marks a significant step as it represents the first formal engagement between VBF and NAEC, establishing a collaborative platform for reviewing key issues in the amendments of economic laws. It is expected that the meeting will be held annually, providing NAEC with diverse perspectives from businesses to support their evaluation of critical laws and policies in preparation for upcoming NA sessions.

During the meeting, VBF presented a quick assessment of the 2024 socio-economic situation and an outlook for 2025. Key recommendations for amendments to the Law on Securities, the Law on Investment, the Law on Enterprises, the Public-Private Partnership (PPP) Law, and the Bidding Law were thoroughly discussed by representatives from the Capital Markets Working Group, the Investment & Trade Working Group, and the Infrastructure Working Group.

In his remarks, NAEC Vice-Chairman Nguyễn Đình Việt emphasized that the NAEC is tasked with reviewing legislative projects pertaining to the economic sector, including macroeconomic policy, business operations, banking, and enterprise regulations. He noted that while most legislative projects are passed by the National Assembly through a two-session process, recent exceptions highlight the complexity of certain laws. Specifically, at the 5th Extraordinary Session, the Land Law (Amended) was passed after four sessions of deliberation, and the amended Law on Credit Institutions was passed after three sessions. This underscores the National Assembly’s careful and thorough approach in reviewing legislation, particularly those with significant socio-economic impacts.

Regarding institutional reform, Vice-Chairman Nguyễn Đình Việt further outlined that the upcoming 8th Session of the National Assembly is expected to pass 16 laws, 2 resolutions, and review 12 additional legislative projects. In line with the Government's commitment to addressing investor challenges, several legislative projects have been proposed under a "one law amends many laws" framework, aiming to swiftly resolve existing legal and regulatory issues.

For more details, please refer to:
👉 On live at the National Assembly's television channel (3/10): National Assembly's Economic Committee meets with Vietnam Business Forum
https://quochoitv.vn/uy-ban-kinh-te-lam-viec-voi-dien-dan-doanh-nghiep-viet-nam-238286.htm

👉 Learn more at the National Assembly's television newspaper channel: Amending the PPP Law - Opening Doors to Attract Private Capital
https://quochoitv.vn/sua-luat-ppp-rong-cua-de-thu-hut-nguon-von-tu-nhan-238337.htm