Commenting on revision of the Law on Investment, National Assembly President Tran Thanh Man highlighted the trend toward easing market access conditions for investors. He emphasized that any such easing must be decided by the National Assembly to ensure legal legitimacy, the consistency of the legal system, and alignment with international commitments.
Investment incentives must be tied to specific commitments and actual performance outcomes, according to National Assembly President Man. "I believe the law should clearly define the fundamental principles and criteria for determining which projects qualify for special incentives—specifically criteria related to spillover effects, the creation of development momentum, and contributions to economic competitiveness", he added.
"There must be a clear mechanism for monitoring, post-investment review, and the revocation of incentives, based on actual outputs rather than merely on initial commitments," Mr. Man said.
The top legislator also addressed the proposal to extend the maximum duration for projects in eco-industrial parks to 70 years—a change that requires a clear justification—and the need to strengthen linkages between foreign direct investment (FDI) and the domestic economy, with a priority on high-tech, high-value-added, and environmentally friendly projects.
Also Saturday morning, deputies provided input on the draft Law amending and supplementing a number of articles of the Law on Environmental Protection, as well as the revised draft Law on Marine and Island Resources and Environment.
In the afternoon the National Assembly discussed in groups the Law on the Development of Cultural Industries; the revised Law on Food Safety; and the Law amending and supplementing a number of articles of the Law on Intellectual Property.
