National Assembly Discusses Draft Capital Law
The 31st Session of the National Assembly (“NA”) Standing Committee was held last week (14-19 March). On the agenda of the week-long session was the scrutinisation of seven draft laws.
In particular, the NA Standing Committee discussed the draft Capital Law and the draft Law on Social Insurance, both of which could be of interest to foreign enterprise and international investors in Vietnam.
The Committee also considered five other draft laws, including on road traffic issues, defense and security, and people’s courts.
Hanoi’s global ambitions
Meanwhile, earlier this month, the NA Party Delegation met with Hanoi’s Party Committee to talk about the draft revised Capital Law. This law is designed to enable the Vietnamese capital to reach its socio-economic development targets to 2030, with a vision to 2045.
According to Resolution No. 15-NQ/TW of the Politburo on 5 May 2023, Hanoi aims to be a global city with a unique culture, high living standards, and on a par with the capital cities of developed countries around the world.
The revised law includes draft provisions for the Capital Master Plan and proposed adjustments to the Capital General Master Plan.
Speaking to the Standing Board in Hanoi on 5 March, Chairman of the NA, Vuong Dinh Hue, said that the draft revised law would be debated and voted on at the forthcoming seventh session of the NA.
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