NA Standing Committee reviews revised draft law on state capital management
According to a government report, a notable improvement in the revised draft is the elimination of seven out of 24 administrative procedures, about 30%, reducing compliance costs and time to streamline business operations.
NA Chairman Tran Thanh Man speaks at the meeting (Photo: VNA)
Hanoi (VNA)🐠 - The National Assembly Standing Committee de🥂liberated the revised draft Law on Management and Investment of State Capital in Enterprises during its 44th meeting in Hanoi on April 17.
The updated draft now comprises nine chapters and 63 articles, an increase of one chapter and one article compared to the version presented at the NA’s 8th session.
According to a government report, a notable improvement in the revised draft is the elimination of seven out of 24 administrative procedures, about 30%, reducing compliance costs and time to streamline business operations.
To align with the Law on Promulgation of Legal Documents, the NA Standing Committee on Economic and Financial Affairs proposed that the NA approve the law by June 15. Documents guiding the law enforcement must be issued before the law takes effect on August 1.
Minister of Finance Nguyen Van Thang speaks at the meeting (Photo: VNA)
NA Chairman Tran Thanh Man called for close collaboration among relevant agencies to refine the draft, aiming to enhance the efficiency of state-owned enterprises (SOEs) and achieve breakthroughs in their management. He called for wage reform to ensure a decent standard of living for SOE workers while boosting competitiveness to attract skilled talent. Additionally, he urged clearer regulations on equitisation and divestment to prevent the loss of state assets.
NA Vice Chairman Vu Hong Thanh provided further clarification on related concerns./.
The 44th session of the National Assembly (NA) Standing Committee will be held in two phases, with the first to last three and a half days from April 14 to April 17 morning, and the second six days and a half from April 22 to the morning of April 28.
In his closing remarks, NA Chairman Tran Thanh Man announced that the committee reached broad consensus on seven draft laws, paving the way for the NA’s ninth session in early May.
The top legislator emphasised the importance of promoting transportation-oriented urban models, creating mechanisms to effectively use land funds, developing smart and sustainable cities, establishing an inter-agency mechanism at the central and local levels to solve obstacles in the implementation of projects.
Ha expressed his hope that cooperation in science and technology, agriculture, and natural resources would emerge as new focal points and engines of growth in Vietnam–China relations.
Giang said he believes that building on the solid foundation nurtured over the past half-century and the strong determination of both nations, the Comprehensive Strategic Partnership will continue to grow in a more robust, comprehensive, and extensive manner, thus bringing more practical benefits to the two nations' people.
Highlighting the transformative potential of the draft law in revitalising Vietnam’s railway industry, Hoang Van Cuong, a deputy of Hanoi, expressed his support for Article 39, which empowers the Prime Minister to issue a list of railway-related goods and services to be assigned or ordered from domestic enterprises for production.
According to the Ministry of Public Security, Hoan, formerly Deputy Minister of Labour, Invalids and Social Affairs, is under investigation for allegedly taking bribes in connection with a case involving the Hoang Long Construction and Manpower Supply JSC and related units.
Chairing a national conference on the organisation of the examination on June 18, the PM highlighted the historical significance of the examination, as the restructuring of provincial-level administrative units is underway and the two-tier local administration model is set to officially begin operations on July 1.
Right on the same day, the ministry issued its highest-level travel warning, urging Vietnamese citizens not to travel to Israel or Iran, and advised those already in these countries to swiftly consider evacuation or relocation plans.
From the struggles against colonialists and imperialists to the period of Doi moi (renewal) and international integration, the Vietnamese revolutionary press has always played a pioneering role on the ideological and cultural front, he said.
The Party leader's working session with the standing boards of the Party Committees of HCM City, Ba Ria – Vung Tau and Binh Duong, the VNA General Director's remarks on the occasion of the 19th OANA General Assembly, the launch of new NIC - Google initiatives aimed at bolstering AI entrepreneurship and digital literacy in Vietnam are among news highlights June 18.
Vietnam and Indonesia reaffirmed their commitment to strengthening cooperation in combating terrorism as it remains a threat to peace, security, and stability across their respective nations, the broader region, and the international community.
The Vietnamese representative also emphasised the shared responsibility of relevant parties to build trust, enhance cooperation, and jointly manage the risks of conflict, thus safeguarding long-term peace and stability in the East Sea.
The National Assembly on June 18 passed the law amending and supplementing a number of articles of the Law on Product and Goods Quality, with 408 out of 420 participating deputies voting in favour, accounting for 85.36% of the total.
The Party leader asked the new HCM City to embrace a multi-centre and integrated urban ecosystem where each development pole functions as a link complementary to and intelligently connected with each other in a harmonious whole.
The resolutions issued by the PM as well as ministries and ministry-level agencies reassign responsibility for 346 administrative procedures - 18 from district to provincial levels, 278 to commune level, and 50 eliminated.
Legislators are due to pass several amended laws, including the Law amending and supplementing several articles of the Law on Economical and Efficient Use of Energy, and the Law amending and supplementing several articles of the Law on Product and Goods Quality.
Vietnamese localities' readiness to implement the two-tier local administration model, the evacuation of 18 Vietnamese citizens from Iran, Petrovietnam's 11th ranking in the 2025 Fortune Southeast Asia 500 are among news highlights on June 17 evening.
The General Secretary underlined the resolve to achieve a growth rate of at least 8% in 2025, laying the groundwork for double-digit growth in the following period. He noted that these are mandatory targets, with no alternative path to success.
Restructuring and improving the quality of officials, civil servants, and public employees is no longer a choice, but an urgent requirement to transition from administrative management to governance in service of the people.
The Vietnamese Embassy in Israel has advised Vietnamese people living there to proactively prepare and seek ways to leave the country via land border crossings, especially toward Jordan or Egypt, when security and safety conditions allow.
