National Assembly Chairwoman Nguyen Thi Kim Ngan closes the Assembly’s 9th session in Hanoi on June 19 (Photo: quochoi.vn)

She said the legislature approved 10 laws and 21 resolutions and commented on 6 other draft laws. She added: “With high number of votes for, the National Assembly approved the EU-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement, and joined Convention 105 of the International Labor Organization on abolishing coerced labor. The approval of these agreements mark an important step forward of Vietnam in its international integration and participation in new generation free trade agreement with higher standards.”

Delegates attend the closing ceremony of the National Assembly' s mid-year session (Photo: quochoi.vn)

Chairwoman Ngan said the early establishment of the National Election Council has paved for way for good preparations for the National Assembly election and elections of the People’s Councils next year.  She added the session decided many urgent issues amid aggressive COVID-19 prevention and control and that the success of the session will create momentum for future reform of the legislature.

Chairwoman Ngan underlined important tasks for the remainder of 2020. She said” “More than ever before, the National Assembly calls on the government, ministries, sectors, the armed forces, businesses, and people to uphold their sense of responsibility, unity, and pro-activeness to cope with national disasters and diseases to steer the country out of difficulties, achieve targets of 2020 and the 5-year plan until 2020, and continue to safeguard national sovereignty and border and island security to firmly move forward.”

Earlier on Friday, the National Assembly  adopted a resolution on pilot special financial and budgetary policies and mechanisms for Hanoi. Under the resolution, Hanoi will be allowed to use a financial reserve fund to invest in infrastructure projects as part of a medium-term public investment plan. The city can also use its budget to support other localities.

Lawmakers also agreed to reduce corporate income taxes 6 percent to help businesses recover from COVID-19 effects. The National Assembly voted overwhelmingly in favor of a proposal by the Ministry of Finance to reduce taxes from 20 percent to 14 percent. All businesses with annual revenues of 8.6 million USD or less and fewer than 200 employees will be eligible for the tax break.