As much as 85.02 percent of the NA deputies approved the resolution at the plenum, which was part of the 14th parliament’s second session. 

The plan also targets a 6-7 percent rise in export-import revenue, and trade deficit accounting for some 3.5 percent of the total trade turnover. While the consumer price index is hoped to increase around 4 percent, total social development investment is expected at 31.5 percent of GDP.

Vietnam is set to have its household poverty rate declined by 1-1.5 percent under the multidimensional measurement. The respective health insurance and forest coverage is hoped to reach 82.2 percent and 41.45 percent next year. 

The plan continues to target a stable macro-economy, economic restructuring associated with growth model reform, and the economy’s better competitiveness. It also looks to encourage sustainable start-up, ensure social welfares, proactively respond to climate change, increase environmental protection, and step up administrative reforms. 

Under this plan, the country will press on with protecting independence, sovereignty, territorial integrity, national security, political stability, and social order and safety. It is also going to improve diplomatic activities, international integration, and promote a peaceful and stable environment for national development. 

In the newly-passed resolution, the parliament calls on the entire Vietnamese people, both at home and abroad, to bring into play patriotism, capitalise on internal strength, and make use of opportunities to carry out the 2017 socio-economic development plan as best as possible.

Several draft laws discussed at 14th NA’s second session

Lawmakers discussed several draft laws at the ongoing second session of the 14th National Assembly in Hanoi on November 7. 

In the morning, deputies heard a report on the draft revised law on technology transfer delivered by Minister of Science and Technology Chu Ngoc Anh, and a report on verifying the draft revised law by Head of the Committee for Science, Technology and Environment Phan Xuan Dung 

Deputies also discussed the draft law on foreign trade management, with focus on the state management of foreign trade, technical and quarantine measures, trade protection. 

In the afternoon, Minister of Culture, Sports and Tourism Nguyen Ngoc Thien presented a draft revised law on tourism, which was later verified in a report delivered by Chairman of the NA Committee for Culture, Education, Youth, Adolescents and Children Phan Thanh Binh.

The deputies discussed the draft law on management and use of weapons, explosives and supporting tools.

They focused on prohibited behaviours; principles on management and use of weapons, explosives and supporting tools; researching, manufacturing, producing, trading, repairing weapons and import-export activities; and responsibilities of relevant agencies and individuals in collecting, classifying, protecting, destroying weapons, explosives and supporting tools. 

Later, the deputies heard the draft resolution on socio-economic development plan for 2017, and adopted the Resolution. 

On November 8, the deputies will discuss in groups a draft law on irrigation and a draft revised law on tourism.

They will hear a report verifying a draft law on support to small- and medium-sized enterprises, discuss a draft revised resolution on amendments and supplements to some articles in Resolution No. 55/2010/QH12 on exemption and reduction of agricultural land use tax; and adopt a resolution on economic restructuring from 2016-2020.

Enterprise, Investment Laws breathe new life into business environment

With an extensive reform spirit, the Law on Enterprises and the Investment Law, which took effect on July 1, 2015, have breathed new life into the country’s business environment, as seen in the remarkably increase in the number of enterprises and investment.

According to the Department of Business Registration Management under the Ministry of Planning and Investment, during one year after the launch of the two laws, nearly 106,000 new firms were established with total capital of nearly 768 trillion VND (36.5 billion USD) or an average 7.25 billion VND each company.

The figures represented increases of 27.8 percent in the number of enterprises, over 42 percent in total registered capital, and 11 percent in the average capital per one enterprise.

At the same time, 23,950 companies injected more capital with total additional investment of 690 trillion VND.

Bui Anh Tuan, head of the department, said that the sharp increase in the number of new enterprises showed positive impacts of the two laws thanks to their strong renovation regulations, which he described as a “liberation of the right to business freedom”.

He pointed out that one of the considerable changes brought about by the laws is the shorter time taken for receiving and processing business registration in localities. In Ha Tinh, the duration was cut down to one day, while that in Tien Giang is 1.3 day, Hau Giang 1.32 day and Da Nang 2.52 days, compared to the national average of 2.9 days.

According to Le Xuan Hien, head of the Business Registration Management office under the Department of Planning and Investment of northern Hai Duong province, the laws pushed local officials to change their mindset from managing to serving enterprises, while encouraging and facilitate startups.

The Department of Business Registration Management held that along with better attitude of officials, the laws have also helped enhance the transparency of the process for establishing enterprises.

However, the department also pointed out a number of problems during the implementation of the Investment Law, particularly the inconsistency between the law and legal documents issued before it.

Vu Ngoc Diep, Director of the Vietnam Price JSC, said that his firm has faced many problems in cooperating with foreign partners as the investment licence granting procedures for foreign companies remain complicated and time-consuming.

Head of the Central Institute for Economic Management (CIEM) Nguyen Dinh Cung also asserted that the big gap between policies and enforcement of laws on business and investment has resulted in below-expectation effectiveness of the laws.

Phan Duc Hieu, CIEM Vice Director was of the opinion that the contradiction and overlap among legal documents delay law enforcement and worry enterprises.

He suggested that the process of granting business licence should be aligned with the Law on Enterprises regardless of types of business areas and investors, citing a problem that in certain business areas such as the stock market, insurance, judicial verification, legal services and notary, companies operate under the Law on Enterprises while applying for business registration under separate regulations and at other agencies than those stipulated in the Law.

Meanwhile, Deputy Minister of Planning and Investment Dang Huy Dong remarked that the surge in the number of newly-established enterprises does not reflect the quality and efficiency of the firms in the market. Stronger competition is an obvious trend, he said, adding that business opportunities will continuously appear and change, creating challenges for businesses and requiring them to improve their adaptability, flexibility and renovation capacity.

This is also the reason why laws and legal documents must be refined to suit reality, he stressed.

VNA