Hanoi (VNA) – National Assembly (NA) deputies are scheduled to debate six draft laws at a plenary sitting on November 3 as part of their ongoing 10th session.
The bills comprise the amended Law on Investment; the Law on amendments and supplementations to a number of articles of the Law on Public Debt Management; the Law on amendments and supplementations to a number of articles of the Law on Insurance Business; the Law on amendments and supplementations to a number of articles of the Law on Statistics; the Law on amendments and supplementations to a number of articles of the Law on Prices; and the Law on E-Commerce.
Following that, deputies will discuss in groups the draft Law on Investment (revised), the draft Law amending and supplementing a number of articles of the Law on Public Debt Management, and the draft Law amending and supplementing a number of articles of the Law on Insurance Business.
The draft Law on Investment (revised) was developed and drafted under a simplified process with the aim of institutionalising the Party’s resolutions, promptly addressing institutional and legal bottlenecks, cutting and simplifying investment and business procedures to facilitate the activities of citizens and enterprises.
It also seeks to improve regulations on conditional business lines and investment conditions by eliminating unnecessary and unreasonable sectors, and to refine decentralisation mechanisms between central and local agencies to ensure effective and efficient state management while promptly addressing practical issues and removing institutional “bottlenecks.”
Meanwhile, the building of the draft Law on amendments and supplementations to a number of articles of the Law on Insurance Business aims to implement the Party and State’s policy of creating favourable conditions for business development by reducing and streamlining investment and business conditions for insurance operations; promoting administrative reform; preventing corruption, wastefulness, and negative practices; and improving the consistency and coherence of the legal framework while addressing urgent difficulties and obstacles.
The bill proposes amendments, supplements, and deletions in 24 articles of the current Law on Insurance Business. These include revisions to seven articles to ease difficulties for enterprises and create a more open business environment that encourages private sector growth; amendments to four articles to ensure consistency with the Law on Inspection; and improvements to one article regarding risk-based capital regulations.
The draft also adds one article on principles governing the capital contribution, establishment, management, and control of enterprises in the insurance sector, including agents and providers of auxiliary insurance services; and introduces one article on the investment principles of insurance brokerage firms to ensure safe and efficient investment activities. It further removes several clauses in two articles to ensure consistency and alignment with the Law on Enterprises; reduces and simplifies business conditions in seven articles; and cuts and streamlines administrative procedures in two articles.
The draft laws amending and supplementing a number of articles of the Law on Statistics, the Law on Prices, and the Law on E-Commerce will also be discussed in group sessions in the afternoon./.
VNA
