Hanoi (VNA) - The National Assembly Standing Committee deliberated the revised draft Law on Management and Investment of State Capital in Enterprises during its 44th meeting in Hanoi on April 17.
The updated draft now comprises nine chapters and 63 articles, an increase of one chapter and one article compared to the version presented at the NA’s 8th session.
According to a government report, a notable improvement in the revised draft is the elimination of seven out of 24 administrative procedures, about 30%, reducing compliance costs and time to streamline business operations.
To align with the Law on Promulgation of Legal Documents, the NA Standing Committee on Economic and Financial Affairs proposed that the NA approve the law by June 15. Documents guiding the law enforcement must be issued before the law takes effect on August 1.
NA Chairman Tran Thanh Man called for close collaboration among relevant agencies to refine the draft, aiming to enhance the efficiency of state-owned enterprises (SOEs) and achieve breakthroughs in their management. He called for wage reform to ensure a decent standard of living for SOE workers while boosting competitiveness to attract skilled talent. Additionally, he urged clearer regulations on equitisation and divestment to prevent the loss of state assets.
NA Vice Chairman Vu Hong Thanh provided further clarification on related concerns./.
