A new resolution aimed at boosting private economic development in Vietnam is expected to be approved by the National Assembly (NA) this weekend. Discussed at the NA Standing Committee’s 45th session on May 14, the draft outlines key policy mechanisms to mobilize social resources and accelerate infrastructure growth in pursuit of double-digit economic expansion. Deputy Minister of Finance Nguyen Duc Tam presented major provisions, including streamlined inspection and licensing processes, a shift from pre- to post-inspection, and a cap of one inspection per year per business—unless violations are evident. Remote, data-based inspections will be prioritized to reduce business disruptions. The draft also emphasizes clearly distinguishing between legal and individual liability and prioritizing civil, economic, and administrative solutions for violations. Criminal prosecution will only follow if necessary, and retroactive legal penalties will not apply to disadvantage businesses. NA Chairman Tran Thanh Man praised the rapid drafting process and called for alignment with international agreements and legal reforms across civil, criminal, tax, and science laws. He stressed the importance of state support over control, especially in areas like digital transformation, infrastructure, credit, land rent, and tax incentives for private enterprises and startups. The final draft will be submitted for approval by May 17. (ICE HO CHI MINH CITY)

Fonte notizia: Vietnam Investment Review