National Assembly adopts laws on state capital management, technical standards
The 15th National Assembly (NA) passed the Law on Management and Investment of State Capital in Enterprises and the Law amending and supplementing a number of articles of the Law on Standards and Technical Regulations at its ongoing ninth session on June 14.
The draft law amending and supplementing a number of articles of the Law on Standards and Technical Regulations is approved with 432 out of 448 participating deputies voting in favour (Photo: VNA)
Hanoi (VNA) – The 15th National Assembly (NA) passed the Law on Management and Investment of State Capital in Enterprises and the Law amending and supp𓄧lementing a number of articles of the Law on Standards and Technical Regulations at its ongoing ninth session on June 14.
The newly adopted Law on Management and Investment of State Capital in Enterprises is expected to reduce around 30% of existing administrative procedures for state-owned enterprises (SOEs), compared to current regulations.
Presenting the explanatory report on the draft law, Chairman of the NA's Economic and Financial Committee Phan Van Mai stated that the law adheres to the principles of decentralisation and delegation of authority, while avoiding undue interference in corporate governance. Based on feedback from deputies, the NA Standing Committee instructed relevant bodies to further revise the draft to clarify the rights and responsibilities of SOEs.
Under the new law, SOEs will have the authority to determine or adjust their business strategies and annual business plans; make capital mobilisation decisions; and guarantee loans for companies in which they hold more than 50% of charter capital, provided the total guaranteed value does not exceed their actual capital contribution at the time of the guarantee.
Additionally, SOEs may lend to these subsidiaries, with the total loan per company not exceeding the value of the parent company’s actual capital contribution at the time of lending. They are also empowered to make investment decisions in line with regulations on investment and other relevant legislation, as well as determine matters such as salaries, remuneration, and bonuses.
Vice Chairman of the National Assembly Tran Quang Phuong speaks at the event (Photo: VNA)
Meanwhile, the draft law amending and supplementing a number of articles of the Law on Standards and Technical Regulations was approved with 432 out of 448 participating deputies voting in favour.
To reduce administrative burdens and associated costs for businesses, the law expands the use of conformity assessment results as a basis for declaring product compliance. It also exempts products and goods that already meet quality management requirements under specialised legislation from having to undergo further declarations of conformity.
In a push to promote digital transformation in administrative procedures, the law simplifies the process of registering conformity declarations. Organisations and individuals will only need to submit their declarations to the national database on standards, metrology and quality.
In addition, the newly adopted law revises procedures for developing, appraising, and issuing technical regulations. Appraisal authority will be assigned to agencies responsible for issuing Vietnamese standards, as designated by the Government./.
452 lawmakers, or 94.56% of the total number of deputies present, voted in favour the revised Law on Corporate Income Tax, while the amended Excise Tax Law was adopted with 448 out of 454 deputies present voting in favour, accounting for 93.72% of the total.
The National Assembly (NA) Standing Committee has endorsed a proposal that non-public companies issuing bonds via private placement must maintain a debt-to-equity ratio of no more than five, including the value of the bonds to be issued.
Also on the day, legislators will also discuss draft laws on mutual legal assistance in criminal and civil matters, a draft law on amendments and supplements to several articles of the Civil Procedure Code, the Law on Administrative Procedure, the Juvenile Justice Law, the Law on Bankruptcy, and the Law on Mediation and Dialogue at Court.
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.
