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Stabilise legal environment for state capital investment: NA Standing Committee

The National Assembly (NA) Standing Committee on Thursday morning discussed adding the amended Law on Management and Use of State Capital to Invest into law, as well as the ordinance development programme for next year, as part of its 14th session.

An overview of the session. — VNA/VNS Photo Doãn Tấn

HÀ NỘI — The National Assembly (NA) Standing Committee on Thursday morning discussed adding the amended Law on Management and Use of State Capital to Invest into law, as well as the ordinance development programme for next year, as part of its 14th session.

Minister of Justice Lê Thành Long said that the comprehensive amendment aims to stabilise the legal framework for State capital investment in production and business at enterprises.

The law promulgation also aims to improve State-owned enterprises’ efficiency, ensuring that firms play a key role in the economy. This brings into play all resources of the State economic sector and State enterprises for socio-economic development.

Chairman of the NA's Committee for Legal Affairs Hoàng Thanh Tùng said that the committee approved the comprehensive amendment of the law on management and use of State capital invested in production and business.

The committee proposed continuing to study and carefully evaluate each specific content of the policies, ensuring synchronisation between the project and other current laws.

Regarding the policy of State capital investment in enterprises, the NA’s Finance and Budget Committee proposed to carefully consider the use of some new concepts about State ownership in enterprises, and capital of enterprises, to ensure conformity with current laws.

The NA's Committee for National Defence and Security suggested clearly defining principles and criteria for monitoring and inspecting the use of State capital in enterprises, ensuring the effective use of State capital, and avoiding loopholes that may lead to mistakes, violations, and loss of state resources.

Regarding the policy of restructuring State capital in enterprises, the NA’s Committee for Legal Affairs proposed to continue studying, clarifying and proposing specific policies to fully institutionalise guiding principles stipulated in the 13th National Party Congress' documents.

The NA Standing Committee believes it is necessary to study as much as possible the opinions from the NA’s committees to promptly adjust to new problems and overcome shortcomings, especially those related to capital management, equitisation, divestment of state-owned enterprises, land, management of the innovation and business development fund.

Stablishment of administrative units

Also yesterday, the NA Standing Committee adopted resolutions on the establishment of a town and a township.

Bình Phú Township in Cai Lậy District, in the Mekong Delta province of Tiền Giang, was formed from Bình Phú Commune, with a total area of 19.07sq.km and a population of more than 18,500.

Meanwhile, Chơn Thành Town in the southern province of Bình Phước was established from Chơn Thành District, covering 390.34sq.km and with a population of 121,083.

In his remarks, NA Chairman Vương Đình Huệ highlighted the rapid urbanisation and great development potential of Chơn Thành.

NA Vice Chairman Nguyễn Khắc Định urged Tiền Giang and Bình Phước provinces to pay more heed to communication work to reach public consensus on local development trends and adjust administrative procedures following the adoption of the resolutions. — VNS

Source:https://vietnamnews.vn/politics-laws/1276949/stabilise-legal-environment-for-state-capital-investment-na-standing-committee.html


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