Illustrative image (Source: VNA)
Hanoi (VNA) – Scrutiny of business and investment laws is needed to adjust or remove incompatible regulations to serve the long-term development of enterprises, heard a workshop in Hanoi on July 22.

The event was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI), the Government Office, the Ministry of Planning and Investment, and the US Agency for International Development’s project on enhancing legal building capacity in Vietnam.

Vice Chairman of the Government Office Le Manh Ha said the Government has exerted efforts to improve the business environment in recent years, such as by building the Law on Investment and Law on Enterprises in 2014, and promulgating Resolution No.19 on bettering the business climate and enhancing the national competitive edge, along with Resolution No.35 on supporting businesses.

According to the VCCI, 37 laws on business and investment need to be revised and adjusted to avoid contradictions and overlaps, including the Commercial Law, the Law on Investment, the Law on Enterprises, the Law on Land, the Law on Construction, the Law on Environmental Protection, and the Law on Science and Technology.

The Law on Corporate Income Tax, the Law on Value Added Tax, the Law on Special Consumption Tax, the Law on Tax Management, the Law on Management and Use of State Capital Invested in Production and Business and Enterprises, the Law on Advertising, and the Law on Housing should be overhauled, too.

Head of VCCI’s Legal Department Dau Anh Tuan said the examination of business and investment laws aims to remove barriers and overlaps among legal documents, through which push forward the reform of administrative procedures and create equal opportunities for business players.

Such legal documents as the Law on Accounting, the Law on Cinema, the Law on Telecommunications, and the Law on Prices also needs revision, he said, pointing to some shortcomings in the fields.-VNA