National Assembly finalizes resolution on breakthrough in private economic development

At noon on May 17, the National Assembly passed a Resolution on a number of special mechanisms and policies for private economic development with a series of breakthrough policies.

Scene of the National Assembly session on the morning of May 17. Photo: QUANG PHUC

Priority is given to civil, economic and administrative measures.

Accordingly, regarding improving the business environment, the resolution requires strict handling of acts of abuse and exploitation of inspection and examination to harass and cause difficulties for enterprises, business households and business individuals. Strongly shift from pre-inspection to post-inspection associated with improving the effectiveness and efficiency of inspection and supervision.

Shift the management of business conditions from licensing and certification to publishing business conditions and post-auditing, except for a few areas that are required to carry out licensing procedures according to international regulations and practices. Do not discriminate between economic sectors in mobilizing, allocating and using capital, land, resources, assets, technology, human resources, data and other resources.

The resolution also states that acts that restrict competition, unfair competition, abuse of dominant position and abuse of monopoly position must be strictly handled according to the law. Media agencies, press, organizations and individuals are strictly prohibited from harassing, negative acts, providing false and inaccurate information, affecting businesses, entrepreneurs, business households, business individuals, etc.

National Assembly delegates vote to pass resolutions. Photo: QUANG PHUC

For violations and civil and economic cases, priority is given to applying civil, economic and administrative measures first; enterprises, business households and business individuals are allowed to proactively remedy violations and damages. In cases where the practical application of the law may lead to criminal prosecution or no criminal prosecution, criminal prosecution shall not be applied.

For violations that are subject to criminal prosecution, proactive, timely and comprehensive economic remedial measures are given priority and are an important basis for the prosecution agency to consider when deciding to initiate, investigate, prosecute, adjudicate and take further measures. Legal provisions must not be applied retroactively to deal with disadvantages for enterprises, business households and business individuals.

Delegates attending the National Assembly meeting on the morning of May 17. Photo: QUANG PHUC

Timely and effectively handle evidence and assets without affecting the proof and resolution of cases and lawsuits; promptly remedy the consequences of damage, put assets into exploitation and use, in order to unlock development resources, avoid loss and waste; ensure the interests of the State, and the legitimate rights and interests of organizations and individuals.

Many support policies on land and financial access

The resolution also states: support for access to land and production and business premises for enterprises.

Regarding support for renting houses and land that are public assets, the State supports small and medium enterprises, supporting industry enterprises, and innovative enterprises to rent houses and land that are public assets that are not used or not used locally.

Regarding financial and credit support, enterprises in the private economic sector, business households and individual businesses are supported by the State with an interest rate of 2%/year when borrowing capital to implement green and circular projects and apply the environmental, social and governance (ESG) standards framework.

Regarding support for taxes, fees, charges, exemption from corporate income tax for 2 years and 50% reduction of payable tax for the next 4 years for income from innovative startup activities of innovative startups, innovative startup investment fund management companies, and innovative startup support intermediary organizations.

National Assembly delegates vote to pass resolutions. Photo: QUANG PHUC

Exemption from personal income tax and corporate income tax on income from the transfer of shares, capital contributions, capital contribution rights, rights to purchase shares, and rights to purchase capital contributions in innovative start-up enterprises.

Exemption from personal income tax for 2 years and 50% reduction in tax payable for the next 4 years for income from salaries and wages of experts and scientists received from innovative startups, research and development centers, innovation centers, and intermediary organizations supporting innovative startups.

Exemption from corporate income tax for small and medium enterprises for 3 years from the date of being granted the first Certificate of Business Registration.

The Resolution also states that business households and business individuals will not apply the lump-sum tax method from January 1, 2026. Business households and business individuals will pay taxes according to the law on tax administration. The collection and payment of business license fees will cease from January 1, 2026.

Ordering, limited bidding, and designation of contractors to implement key projects

The Resolution also outlines the contents of supporting research, development and application of science and technology, innovation and digital transformation.

Minister of Finance Nguyen Van Thang presented the draft Resolution of the National Assembly on mechanisms and policies for private economic development. Photo: QUANG PHUC

Regarding support for improving corporate governance capacity and human resource quality, the resolution states: allocating the state budget to implement a training program to train and develop 10,000 executives by 2030; providing free legal consulting services, training on corporate governance, accounting, tax, and human resources for small and micro enterprises, business households, and individual businesses.

Regarding support for the formation of medium and large enterprises and pioneer enterprises, the resolution clearly states that ordering, limited bidding, and designated bidding are necessary to implement key and important national projects. The State expands the participation of enterprises in the private economic sector in key projects of great significance to socio-economic development and important national projects through direct investment or investment in the form of public-private partnership or cooperation models between the State and the private sector in accordance with the provisions of law.

Competent persons and investors may choose to apply one of the forms of ordering or limited bidding or designated bidding or other appropriate forms as prescribed by law to implement strategic fields, key and important national scientific research projects and tasks, high-speed railways, urban railways, platform industries, spearhead industries, energy infrastructure, digital infrastructure, green transport, national defense, security and urgent and urgent tasks on the basis of ensuring publicity, transparency, quality, progress, efficiency and accountability.

The State develops programs and allocates budgets to support the formation and development of medium and large enterprises, regional and global private economic groups through programs: the program to develop 1,000 typical enterprises, pioneers in science and technology, innovation, digital transformation and green transformation, high-tech industry, supporting industry; the program to reach out to international markets (Go Global) to support markets, capital, technology, brands, distribution channels, logistics, insurance, consulting, law, business dispute resolution, trade, mergers and acquisitions, connections with multinational corporations...

PHAN THAO

Source: https://www.sggp.org.vn/quoc-hoi-chot-nghi-quyet-ve-dot-pha-phat-trien-kinh-te-tu-nhan-post795654.html