Presenting the summary of the draft law, Minister of Finance Nguyen Van Thang stated that the nine-article bill aims to fully institutionalize the Party’s and State’s policies and directions on science-technology development, innovation, and digital transformation and the streamlining of the political apparatus; and promote support, decentralization, delegation of power, and administrative reform in investment, finance, and budget management.
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Minister of Finance Nguyen Van Thang speaks at the session. |
It also seeks to promptly address difficulties and obstacles; unlock and effectively utilize resources for economic development, science-technology advancement, innovation, and national digital transformation, he said, adding that it is designed to ensure consistency and coherence in the legal system, thus improving the business and investment environment, and promoting economic growth.
In a preliminary appraisal report, Standing Vice Chairman of the N.A.'s Committee for Economic and Financial Affairs Le Quang Manh generally agreed on the necessity and scope of the amendments and supplements to the laws as proposed by the Government. He suggested the Government provide explanatory reports and policy impact assessments to ensure that the N.A. Standing Committee and the legislative body have sufficient grounds for consideration and approval.
Notably, regarding amending and supplementing a number of articles of the law on investment in the PPP form, the draft law proposes expanding the category of eligible investors in PPP investment, aiming to encourage professors and experts who own technology to join the development of science and technology projects.
However, to ensure consistency and uniformity within the legal system and to minimize risks that may arise during implementation, the N.A. Committee for Economic and Financial Affairs recommended a thorough assessment of the policy’s impacts before making such changes.
According to N.A. Vice Chairman Nguyen Duc Hai, the N.A. Standing Committee recommended that amendments and supplementations should be only made to truly necessary and urgent matters, avoiding creating new problems during the revision process.
Hai also requested the Government study and incorporate feedback to finalize the draft law for official appraisal before submission to the N.A. for consideration.
Earlier the same day, the N.A. Standing Committee gave opinions on the Government’s report on the state finance and the state budget finalization in 2023.
Source: VNA