Identifying 4 prominent issues in the flow of business law

On April 22, the Vietnam Federation of Commerce and Industry (VCCI) held a workshop to announce the report "Business Law Flow 2024" and the report "Assessment of Technical Standards and Regulations". These are two important publications by VCCI to contribute to improving the investment and business environment in Vietnam.

At the workshop, VCCI Chairman Pham Tan Cong said that 2024 will continue to see excitement in law-making work - with many laws, decrees, and circulars being amended and issued in the direction of reform.

"However, it cannot be denied that the current legislative process still has many points that need to be improved: from the way of selecting issues, the way of drafting documents, to the way of collecting opinions and building detailed regulations under the law. Amendments are sometimes still formal, the preparation time is short, and do not really fully reflect reality," Mr. Cong emphasized.

Through monitoring and analyzing issued documents and collecting opinions from the business community, VCCI recognizes some main "currents" in the business legal system in 2024.

According to VCCI Chairman Pham Tan Cong, the current legislative process still has many points that need to be improved.

Firstly, administrative procedure reform and compliance cost reduction continue to be strongly promoted. In recent years, the Government has made great efforts to reduce business conditions, reform administrative procedures, and decentralize and delegate more power to local authorities and specialized agencies. Many regulations have been amended to make them simpler, more transparent and more favorable for businesses.

A positive sign is that the business community is increasingly proactive in providing feedback and policy criticism. Many policies issued in 2024 have clearly shown their imprint on business practices. However, there are still many documents that do not accurately reflect the market's wishes, due to the urgent drafting time and the formality of the consultation process.

Second, some reform policies have not been really favorable in implementation. Despite many efforts, some policies have not yet created substantial changes. The main reason is that the old management mindset has not been completely changed. For example, investment and licensing procedures are still complicated; many control regulations are not close to reality. Some fields such as petroleum, aircraft, notarization, etc. still have inflexible regulations, not creating favorable conditions for business operations.

The market expects a more substantive reform mindset – not only in reviewing and amending existing regulations, but also in formulating new policies that are open, transparent and business-friendly.

Third, fiscal and tax policies have many positive movements but there are still concerns.

Tax and fiscal policies continue to be seen as effective tools to support economic recovery. Many tax and fee exemption and reduction policies have been implemented. However, businesses still report some shortcomings in implementation such as cost pressure, compliance time and lack of uniformity in tax laws.

Tax administration has also seen many improvements, especially in e-commerce. However, there are still legal gaps, causing difficulties for small businesses and individuals doing business on digital platforms.

Fourth, e-commerce policy has had positive adjustments but is still lacking in synchronization.

E-commerce is developing rapidly and plays a key role in the digital economy. Many new policies have been issued in a timely manner to meet management requirements. However, there are still regulations that do not cover all practices, especially for small and spontaneous businesses. It is necessary to perfect the legal framework to protect the interests of stakeholders and ensure fair and transparent competition.

In addition to reflecting the legal flows, this year's report of VCCI also conducted a number of in-depth studies on legal issues that have a major impact on investment and business, especially in the fields of land investment and investment in waste treatment projects such as waste-to-energy plants. VCCI also conducted its own research on the system of standards and technical regulations - an important tool in state management - to make recommendations for improvement, helping to ensure both management efficiency and reduce compliance costs for businesses.

"We believe that the 2024 Business Law Flow Report will be a useful reference source for the National Assembly, the Government, ministries, business associations and experts in the process of building and perfecting legal policies," said the Chairman of VCCI.

Moonlight

Source: https://doanhnghiepvn.vn/kinh-te/chinh-sach/nhan-dien-4-van-de-noi-bat-trong-dong-chay-phap-luat-kinh-doanh/20250422023016420