NA de­bates amend­ments to En­ter­prise Law

The Govern­ment pro­posed amend­ments to al­low FDI busi­nesses to main­tain their op­er­a­tions, es­pe­cially those which en­joy sta­ble pro­duc­tion, cre­ate sta­ble jobs for lo­cal work­ers and con­trib­ute to so­cial wel­fare and the State bud­get.

Viet Nam News - - Front Page -

HAØ NOÄI — Con­tin­u­ing the fifth sit­ting of the 13th National Assem­bly, deputies on Satur­day ex­am­ined the draft amend­ments to the En­ter­prise Law, as well as a pro­posal ask­ing for NA ap­proval of the State bud­get bal­ance for 2011 and sev­eral other is­sues.

Ac­cord­ing to a Govern­ment re­port pre­sented by Min­is­ter of Plan­ning and In­vest­ment Buøi Quang Vinh, Clause 2 un­der Ar- ticle 170 of the 2005 En­ter­prise Law pre­scribes that for­eign in­vested firms op­er­at­ing un­der the For­eign In­vest­ment Law in Vieät Nam can ei­ther re-reg­is­ter for op­er­a­tions and man­age­ment in ac­cor­dance with the En­ter­prise Law or de­cide not to re- reg­is­ter.

Those who de­cide not to re­new their regis­tra­tion will see their busi­ness op­er­a­tion limited to the ac­tiv­i­ties spec­i­fied in their in­vest­ment li­cences.

Statis­tics show that by July 1, 2011, the dead­line for re-regis­tra­tion, about 3,000 out of 6,000 FDI en­ter­prises were yet to re-reg­is­ter. Of th­ese, some have seen their li­cences ex­pire but want to con­tinue their op­er­a­tions while oth­ers with valid li­cences want to ex­tend op­er­a­tions to other busi­ness fields.

There­fore, the govern­ment pro­posed amend­ments to Ar­ti­cle 170 of the En­ter­prise Law to al­low FDI busi­nesses to main­tain their op­er­a­tions, es­pe­cially those which en­joy sta­ble pro­duc­tion, cre­ate sta­ble jobs for lo­cal work­ers and con­trib­ute to so­cial wel­fare and the state bud­get.

The amend­ments will also pro­vide a le­gal frame­work for those who fail to re-reg­is­ter to be able to broaden their ac­tiv­i­ties in Vieät Nam.

Ac­cord­ingly, it is sug­gested that the re-regis­tra­tion dead­line de­fined in Ar­ti­cle 2 should be re­moved so that en­ter­prises feel free to reg­is­ter at their con­ve­nience.

A ma­jor­ity of the NA’s Eco­nomic Com­mis­sion agreed with the re­vi­sion as pro­posed by the Govern­ment. They also sug­gested that ex­ten­sions on ac­tiv­i­ties should only be al­lowed for en­ter­prises that do busi­ness in line with the Govern­ment’'s poli­cies on for­eign- in­vested firms.

Also at the meet­ing, deputies also asked to clar­ify the ef­fi­ciency of bud­get spend­ing, es­pe­cially pub­lic in­vest­ment in cap­i­tal con­struc­tion.

Pre­vi­ously, on Fri­day, the National Assem­bly ap­proved Nguyễn Hữu Vaïn, a 57-year-old econ­o­mist, as the new Gen­eral Au­di­tor. —

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