Cabinet members discuss revision of business laws

The draft law was compiled to revise and supplement some articles in the 11 current laws, including Law on Investment, Law on Enterprises, Law on Land, Law on Construction, Law on Environmental Protection, Law on Fire Prevention and Fighting, Law on Tax Management, Law on Corporate Income Tax, Law on Urban Planning, Law on Advertising, and Law on Housing.

The revision and supplementation of the aforesaid legal documents mean to continuously improve the business investment environment which is transparent, equal, safe, and friendly to people and entrepreneurs.

The draft law will continue to cut down on the number of conditional business sectors and unnecessary business conditions while improving investment encouragement and protection policy, and addressing shortcomings in business operation.

Special attention will be put to bettering administrative procedures and reforming the management of business investment activities.

Prime Minister Nguyen Xuan Phuc said the draft law is meant to remove any barriers for businesses to operate effectively.

In addition to tightening State management, it is necessary to create a favourable environment according to the market economy, he said.

The Prime Minister directed the Ministry of Justice to coordinate with the Ministry of Planning and Investment to collect various opinions from organisations and individuals to soon complete the draft law and submit to the National Assembly for approval to push business activities and economic growth.

Cabinet members will discuss the socio-economic performance in July and the first seven months of this year at the Government’s regular meeting on August 2.