The Ministry of Planning and Investment (MPI) is tasked to submit twonew laws to the National Assembly in 2015, a move sparked by therequirement to speed up institutional reform to further improve thecountry’s investment and business environment.
Thetwo new laws are the Law on Planning and the revised Law on Statistics,said Minister Bui Quang Vinh, who added that the Law on Planning, inparticular, is much awaited with expectations that it will put an end toineffective planning and waste investment.
Vinhstressed the significance of the laws, together with other new ones tobe introduced in the year, including the Law on Special Economic Zones,when efforts are being made to create a fully-fledged economicinstitution to fuel economic growth.
The ministerwarned that in 2015, the requirement for deeper participation in anASEAN Economic Community and the enactment of a host of free tradeagreements signed will pose a developmental challenge to the country andtrigger a fierce competition in the domestic market.
There will be a must to further improve businesses’ health, whichneeds to be drastically done for the creation of a strong economy in theyear, he said.
Regarding the implementation of theLaw on Public Investment, which took effect from January 1, Vinh saidthe MPI is working on five guiding decrees for the law.
However, raising the awareness of ministries and sectors of public investment is all that matters, he stressed.
According to the law, major projects must receive approval from thePrime Minister to ensure their socio-economic efficiency, he said.
He pointed to the necessity to work out sound mid-term plans forpublic investment as the law requires a five-year term scheme for theuse of the capital.
Reviewing the efficiency ofthe revised Laws on Enterprises and Investment, which were approved bythe National Assembly in 2014, the minister said he believes that afterbecoming effective from July 1, the laws will help create a betterbusiness environment for all people and enterprises.
However, how to make full use of that favourable environment to createstrong investment waves or investment opportunities, also depends onother factors, including credit policy, bad debt settlement and accessto capital, he asserted.
The MPI leader expressedhis strong belief that the laws, applauded and supported by bothdomestic and foreign businesses, will come up with new driving forcesfor the economy.-VNA
Thetwo new laws are the Law on Planning and the revised Law on Statistics,said Minister Bui Quang Vinh, who added that the Law on Planning, inparticular, is much awaited with expectations that it will put an end toineffective planning and waste investment.
Vinhstressed the significance of the laws, together with other new ones tobe introduced in the year, including the Law on Special Economic Zones,when efforts are being made to create a fully-fledged economicinstitution to fuel economic growth.
The ministerwarned that in 2015, the requirement for deeper participation in anASEAN Economic Community and the enactment of a host of free tradeagreements signed will pose a developmental challenge to the country andtrigger a fierce competition in the domestic market.
There will be a must to further improve businesses’ health, whichneeds to be drastically done for the creation of a strong economy in theyear, he said.
Regarding the implementation of theLaw on Public Investment, which took effect from January 1, Vinh saidthe MPI is working on five guiding decrees for the law.
However, raising the awareness of ministries and sectors of public investment is all that matters, he stressed.
According to the law, major projects must receive approval from thePrime Minister to ensure their socio-economic efficiency, he said.
He pointed to the necessity to work out sound mid-term plans forpublic investment as the law requires a five-year term scheme for theuse of the capital.
Reviewing the efficiency ofthe revised Laws on Enterprises and Investment, which were approved bythe National Assembly in 2014, the minister said he believes that afterbecoming effective from July 1, the laws will help create a betterbusiness environment for all people and enterprises.
However, how to make full use of that favourable environment to createstrong investment waves or investment opportunities, also depends onother factors, including credit policy, bad debt settlement and accessto capital, he asserted.
The MPI leader expressedhis strong belief that the laws, applauded and supported by bothdomestic and foreign businesses, will come up with new driving forcesfor the economy.-VNA
