NA Standing Committee debates draft law on SMEs support
The National Assembly Standing Committee gave feedback on the draft Law on Support for Small- and Medium-sized Enterprises (SMEs) during their fourth working session in Hanoi on October 6.
Agricultural products being processed at Nam Huy Dong Thap Company in southern Dong Thap Province. A law on extending support to SMEs company is being drafted. (Photo: vietnamnews.vn)
Hanoi (VNA) – The National Assembly Standing Committee gave feedback on the draft Law on Support for Small- and Medium-sized Enterprises (SMEs) during their fourth working session in Hanoi on October 6.
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 and creating a legal framework to rally public support of the effort, the law drafting board said.
The NA Standing Committee focused discussion on the necessity of the law. NA Chairwoman Nguyen Thi Kim Ngan was concerned about the consistency between the bill and other laws, one of them being the Enterprise Law 2015.
She requested the drafting board to clarify the relationship between support measures stipulated in the draft law and other laws, the compatibility between regulations in the bill and international conventions to which Vietnam is a member, and the draft law’s impact on the country’s economic and financial landscape.
The NA’s Economic Committee also asked the Government to address the legal inconsistency between the draft and other specialized laws.
Apart from analysing conflicts between the draft law and other specialised laws, Chairman of the NA’s Law Committee Nguyen Khac Dinh suggested the bill should also ensure harmony with the laws on Corporate Income Tax, Investment, Land, Credit Organisations, Science-Technology, Bidding and Competition.
Concluding the discussions, NA Vice Chairman Phung Quoc Hien said the NA Standing Committee wants the draft law to be feasible and consistent with the existing laws. He asked the compiling board to make a report assessing the bill’s impacts.
As scheduled, the committee will present their opinions on preparati🦩ons for the second session of the 14th National Assembly and the draft Law on Planning in the afternoon of October 6.-VNA
Different opinions on the draft Law on Supporting Small and Medium Enterprises (SMEs) will be gathered at a consultation conference held by the Ministry of Planning and Investment in Ho Chi Minh City
The law on support to small- and medium-sized enterprises (SMEs), which is being drafted, is set to facilitate the development of the firms making up 97 percent of the businesses in Vietnam.
Orientations for support industry development and experience in supporting small- and medium-sized enterprises (SMEs) were focused at the Business Partner City (BPC) 2016 conference.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
New Zealand is currently one of Vietnam’s most important partners in the region, marked by a high level of political trust, strong and reliable defence and security cooperation, and increasingly open economic, trade, and investment ties.
Party General Secretary To Lam stressed that the Central Public Security Party Committee must be fully aware of the extremely important role of the People's Public Security force in the country's new revolutionary phase, so as to guide each branch and level of the force as the nation undergoes transformation.
Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
Agricultural products being processed at Nam Huy Dong Thap Company in southern Dong Thap Province. A law on extending support to SMEs company is being drafted. (Photo: vietnamnews.vn)
