After that lawmakers will turn their attention to the draft law on amending and supplementing several articles of the Law on Promulgation of Legal Documents.
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N.A. deputies press buttons to pass the resolution on provincial-level administrative restructuring in 2025. |
In the afternoon, they will listen to a proposal and a verification report on the investment policy of Ho Chi Minh City’s Ring Road 4 project, and discuss at the hall the N.A.’s resolution on the establishment of international financial centers in Vietnam.
According to the Government’ proposal, the financial centers will be located in Ho Chi Minh City and Da Nang City. The draft resolution has established special policies and mechanisms governing foreign exchange operations, banking activities, capital market development, taxation, and immigration procedures for international experts and investors.
Besides, the proposed framework extends to employment policies, social security arrangements, land use regulations, construction and environmental standards, controlled testing environments for financial technology and innovations, technical and social infrastructure development, and settlement of disputes in business activities, among others.
Each center will comprise an executive body, a supervisory authority, and dedicated dispute resolution institutions, including specialized courts established under the Law on the Organization of People’s Courts and an international arbitration center operating under the Law on Commercial Arbitration Law.
The draft resolution emphasizes streamlined administrative procedures designed to facilitate organizations and individuals’ engagement in the development of the financial centers.
Source: VNA