Institutional reform: Harmonizing benefits, sharing risks

On the afternoon of March 28, in Hanoi, towards the 40th anniversary of the establishment and development of Vietnam Law Newspaper (July 10, 1985 - July 10, 2025), Vietnam Law Newspaper in collaboration with Law and Development Magazine co-organized a press conference on the international workshop with the theme "Improving institutions to realize the principle: Harmonious benefits, shared risks in the investment field".

Attending the conference were Dr. Vu Hoai Nam - Editor-in-Chief of Vietnam Law Newspaper, Head of the Organizing Committee, Prof. Dr. Le Hong Hanh - Editor-in-Chief of Law and Development Magazine, Deputy Head of the Organizing Committee, MSc. Tran Ngoc Ha - Deputy Editor-in-Chief of Vietnam Law Newspaper, Deputy Head of the Organizing Committee, and representatives of press agencies.

Institutional improvement - the "key" to attracting sustainable investment

Vietnam is entering a period of strong institutional reforms, especially in the field of foreign direct investment. These reforms play an important role in attracting capital, promoting economic development and improving the quality of life. However, rapid changes also pose challenges in adjusting policies and the legal system to suit reality.

Conference overview.

Speaking at the opening of the information conference, Dr. Vu Hoai Nam - Editor-in-Chief of Vietnam Law Newspaper emphasized that the conference not only stopped at putting the law into practice, but also aimed at building law from social practice.

“We need appropriate mechanisms to balance the interests between the State and investors, ensuring a transparent and stable business environment,” Dr. Vu Hoai Nam shared.

The upcoming workshop aims to create an opportunity for experts, businesses and managers to analyze and evaluate the shortcomings in the current system, and propose feasible solutions to implement the principle of "harmonized benefits and shared risks". This is not only the goal of a single interest group but also an important strategy to create momentum for sustainable economic development.

Dr. Vu Hoai Nam delivered the opening speech at the conference.

With more than 30 presentations, the workshop focused on three main thematic groups: Overview of institutions and the principle of "Harmonious benefits, shared risks"; Application of this principle in specific fields; The role of state management and dispute resolution mechanisms. Discussions revolved around ways to improve the legal system to ensure transparency, fairness and efficiency in investment management.

Professor Dr. Le Hong Hanh, Editor-in-Chief of Law and Development Magazine, said that if the legal risks are too great, investors will be afraid to participate in the market.

“In 2024, Vietnam will disburse more than VND70 trillion (equivalent to 73% of the plan), but many projects are still stalled because they cannot find contractors due to high risks. To attract investment capital, we need to improve institutions to protect the rights of investors, while ensuring harmony with national interests,” analyzed Prof. Dr. Le Hong Hanh.

Prof. Dr. Le Hong Hanh spoke at the conference.

Prof. Dr. Le Hong Hanh also emphasized: "This workshop is part of the Party and State's efforts to promote institutional reform and liberate resources to bring the country into a new era of development."

In addition, land use planning issues will also be discussed at the upcoming workshop. The current situation of wind and solar power projects being cancelled after completing procedures has caused many investors to worry. This requires more transparent and consistent legal regulations to ensure the stability of the investment environment.

Promote investment and improve business environment

To promote investment and improve the business environment, specific solutions are needed to remove current legal barriers. First of all, the system of regulations on public investment disbursement needs to be completed in a transparent and consistent manner, ensuring that capital flows are deployed effectively, avoiding delays or bottlenecks due to administrative procedures.

The principle of “harmonized benefits and shared risks” plays an important role in creating a sustainable investment environment, ensuring the harmony of interests between the state and investors, while minimizing legal and practical risks in the process of project implementation.

Representatives of news agencies and press attended.

However, the realization of this principle in Vietnam still faces many challenges, especially in the context of the legal system related to investment being continuously updated and adjusted, including the Investment Law 2020, the Public Investment Law 2019, the Law on Investment under the Public-Private Partnership (PPP) 2020, the Bidding Law 2023 and the Land Law 2024.

In addition, reviewing and adjusting regulations related to land use planning is also an urgent requirement. The shortcomings in current planning not only create legal risks but also make many investors hesitant to implement long-term projects. A stable investment environment will help businesses clearly plan their strategies and limit losses due to sudden policy changes.

In addition, it is necessary to build a clear mechanism to protect investors' rights, while ensuring harmony with national interests. Balancing investment attraction and protecting common interests will help Vietnam maintain its attractiveness to foreign investors while ensuring sustainable development.

At the information conference, representatives of press agencies also expressed their views and asked many questions related to the practicality of building legal policies in various fields.

Representatives of press agencies asked questions to the Organizing Committee.

A representative of Dan Tri Newspaper raised the question: “In the process of building investment policies, do we rely on practical examples that have arisen? If so, can the organizers share some specific illustrative cases?”

A representative of Cong Ly Newspaper expressed concern about the issue of legal liability in science and technology investment: “Resolution 93 of the National Assembly has proposed breakthrough solutions to promote science and technology and digital transformation. However, one of the biggest concerns is the legal liability of investors in this field. What is the Organizing Committee’s view on the exemption of criminal liability for high-tech projects?”

Also from this issue, Professor Le Hong Hanh expressed his opinion on the legality of pioneering individuals carrying out unprecedented economic activities.

The Organizing Committee of the Conference listened to opinions from news agencies and the press.

“Some delegates proposed to completely exempt such individuals from liability, but I do not agree with that approach. If a scientist introduces an unverified product that causes serious consequences, legal liability must still exist. Of course, if at that time technology does not allow for full identification of risks, then criminal liability can be considered, but civil liability must still be maintained,” shared Prof. Dr. Le Hong Hanh.

With the participation of many leading experts and policy makers, the workshop promises to provide important recommendations to help Vietnam become a more attractive and sustainable destination in the eyes of international investors.

The international workshop with the theme "Improving institutions to realize the principle of harmonious benefits and shared risks in the investment sector" will be held on April 5, 2025 in Ha Long city (Quang Ninh).

With the participation of many leading experts and domestic and international policy makers, the workshop promises to provide important recommendations to help Vietnam become a more attractive and sustainable destination in the eyes of international investors.

Minh Trang

Source: https://congthuong.vn/cai-cach-the-che-loi-ich-hai-hoa-rui-ro-chia-se-380466.html