VIAC and ITPC co-organized seminar “Law no. 57/2024/QH15 of the National Assembly and new policies on investment activities"

On April 24th, 2025, The Seminar “Law No. 57/2024/QH15 of the National Assembly and new policies on investment activities” was successfully organized by the Vietnam International Arbitration Centre (VIAC), in collaboration with the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC). The event saw great success, with over 200 businesses, legal professionals, and media representatives attending.

 

 

In the opening speech, Ms. Cao Thi Phi Van, Deputy Director of the Investment and Trade Promotion Centre (ITPC), underscored the crucial importance of Law No. 57/2024/QH15. The law focuses on amending and supplementing regulations concerning planning, investment, public-private partnerships (PPP) and bidding, to foster a conducive legal framework that enhances transparency and efficiency in the investment sector. The seminar   would offer information to address queries on new aspects such as the decentralization of competences to provincial People's Committees, investment support mechanisms, simplified planning adjustments, and streamlined bidding procedures.

 

 

During the seminar, Mr. Chau Viet Bac, Vice Secretary General of VIAC, shared that over its 30 years of operation, VIAC has handled and resolved over 3.400 dispute cases, more than half of which involved foreign elements, including FDI enterprises and cross-border transactions. Notably, statistics from the first quarter of 2025 show a surge of over 20% in the number of disputes submitted to VIAC compared to the same period last year, particularly those arising in the investment, business, and infrastructure sectors. Mr. Bac expected legal regulations governing the investment sector will continue to be streamlined and conducive for investors. Specifically, Law No. 57 – with its simultaneous amendments to several key statutes such as the Law on Planning, the Law on Investment, the Law on Public-Private Partnership Investment, and the Law on Bidding – serves as a vivid illustration of robust institutional reform efforts.

 

 

According to Dr. Phan Duc Hieu - Standing Member of the National Assembly’s Economic and Financial Committee, Arbitrator of VIAC, noted that amidst the need to boost economic growth and maintain macroeconomic stability, Vietnam has undertaken bold institutional reforms in the investment sector during 2024 and 2025. The focus has been on reviewing and improving the legal system, mechanisms, and policies to address “bottlenecks”, reduce administrative procedures, and create a more conducive investment and business environment. The legislative mindset has shifted from “prohibiting what cannot be managed” to fostering development, with an emphasis on decentralization and delegation of authority.

 

The year 2024 marked numerous significant changes with the promulgation and amendment of several laws directly related to investment activities. Among the most prominent are changes in the land law addressing mechanisms for land recovery, agreements for acquiring land use rights, and the conversion of land use purposes, particularly concerning commercial housing and urban area projects.

 

 

Looking ahead to 2025, the National assembly is expected to prioritize economic growth and support for production and business, while ensuring macroeconomic stability, controlling inflation, and maintaining key economic balances. To that end, a number of important legislative initiatives are under consideration, including amendments or new versions of the Law on Enterprises, Law on Digital Technology Industry, Law on Science, Technology and Innovation, and Law on Advertising,… These revisions aim to further institutionalize preferential policies, introduce greater flexibility in public procurement and PPP investments, especially in science, technology, innovation, and digital transformation.

 

Of particular note, the Vietnamese government is proposing the establishment of an international financial centre (IFC) in Ho Chi Minh City and Da Nang, marking a breakthrough in attracting global investment. These centers will operate under 15 distinct policy clusters, encompassing incentives related to taxation, foreign exchange, banking, capital markets, and agile dispute resolution mechanisms. Notably, enterprises operating within the Centre will be permitted to establish parent companies that hold the necessary shares or capital contributions in other companies—similar to domestic enterprises—without undergoing complex investment procedures. They will also be allowed to apply international accounting standards. The overarching goal of these international financial centers is to attract leading multinational financial institutions through a flexible legal framework, thereby enhancing Vietnam’s economic prospects and strengthening its position on the regional financial map.

 

 

Following Dr. Phan Duc Hieu’s presentation, the seminar continued with open discussion among participants. The session featured lively and constructive exchanges, featuring a wide range of perspectives rooted in practical experience, and generating concrete policy suggestions aimed at refining the legal framework and improving implementation effectiveness in the near future.

 

Through this event, VIAC and ITPC reaffirm their commitment to serving as key connectors, providing timely legal updates and addressing legal concerns for the business and investment community. These efforts contribute to clarifying the legal landscape, fostering an efficient and transparent investment environment, attracting global resources, and realizing the vision of elevating Vietnam’s economic and financial standing.

 

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