Politics

NA deputies debate amended draft laws to facilitate investment, production, business

Lawmakers continue their debate on the draft Law on Public Investment (amended) as part of the 15th National Assembly (NA)’s ongoing eighth session in Hanoi on November 6.

Lawmakers at a National Assembly's session. (Photo: VNA)
Lawmakers at a National Assembly's session. (Photo: VNA)

Hanoi (VNA) – Lawmakers continue their debate on the draft Law on Public Investment (amended) as part of the 15th National Assembly (NA)’s ongoing eighth session in Hanoi on November 6.

The draft law has been hailed by ministries, sectors, localities, international organisations, and foreign donors, particularly in terms of fundamentally addressing existing issues, limitations, and bottlenecks arising in the implementation of the 2019 Law on Public Investment. The regulations on the decentralisation and delegation of authority ensure clarity in roles, tasks, and responsibilities, making it easier to monitor, supervise, and evaluate the work, meeting the requirements for managing and using public investment resources to implement the three strategic breakthroughs, particularly in infrastructure development.

According to Minister of Planning and Investment Nguyen Chi Dung, the major policy groups specified include institutionalising mechanisms and pilot and specific policies that have been authorised by the NA; promoting decentralisation and delegation of authority; improving the quality of investment preparation, resources, and ability mobilisation to implement public investment projects of localities and State-owned enterprises; promoting the implementation and disbursement of official development assistance (ODA) funding and concessional loans from foreign donors (foreign capital); and simplifying procedures, and adding and clarifying concepts, terms, and regulations to ensure the consistency and coherence of the legal system.

In their afternoon, the legislators will discuss a draft law amending and supplementing a number of articles of the Law on Planning, the Law on Investment, the Law on Investment under Public-Private Partnership (PPP), and the Law on Bidding.

Minister Dung stated that the bill aims to promptly address urgent institutional challenges, simplify administrative procedures, and promote the decentralisation and delegation in the areas of planning, business and investment, PPP investment, and bidding./.

VNA
#draft Law on Public Investment (amended) #NA deputies #urgent institutional challenges #administrative procedures #public investment resources
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