National Assembly approves revised Laws on Investment and Enterprises
(VOVworld) – National Assembly deputies approved revised Laws on Investment and Enterprises in a Wednesday morning session. Revisions to the Investment Law include a reduction of the number of banned business areas from 51 to 6 and the number of provisional business areas from 386 to 272. This is the focal point of the Bill, whose aim is to make it easier for investors to do business freely and be a new driving force in the national economy. The amended Law on Enterprises will eliminate the requirement of providing Harmonized Commodity Description and Coding System Codes or HS Codes, when obtaining a Business Registration Certificate. This will allow an enterprise to have as many business activities as it wishes, provided they are not prohibited or restricted by law.
The revised Laws on Investment and Enterprises will take effect on July 1
st, 2015. Lawmakers also debated the revised State Auditing Law in the morning session.
In the afternoon session, they voted to approve the revised Law on Management and Use of State Capital in Production and Business, the amended Law on Special Consumption Tax, revised Tax Laws, and discussed the amended Law on Labor Safety and Hygiene.