The National Assembly’s Committee on Economic and Financial Affairs held a policy consultation conference at the National Assembly Building on February 9 to discuss the draft law amending and supplementing the Law on Commerce, the Law on Competition, the Law on Foreign Trade Management, and the Law on Protection of Consumers’ Rights.

According to a report by the Ministry of Industry and Trade, the lead drafting agency, the project focuses on policies to promote decentralization and empowerment, as well as on administrative reform and investment conditions. It also aims to remove bottlenecks within the Law on Commerce, the Law on Competition, and the Law on Foreign Trade Management.

The Standing Committee on Economic and Financial Affairs emphasized the vital importance of building a modern, synchronous economic legal system. Aiming to create a transparent and fair business environment, the Committee requested delegates to focus their feedback on feasibility, consistency with international commitments, and practical obstacles in governance and law enforcement.

At the conference, delegates and experts agreed that simultaneously amending these four laws is not only a legislative technical requirement but also an inherent demand of the economy. They stressed that policies in the draft law must facilitate development, create a favorable business environment for citizens and enterprises, and enhance the effectiveness of state management in these four areas.

Acknowledging the contributions of National Assembly members and experts, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan emphasized that the Ministry would continue to refine the draft project before submitting it to competent authorities.

The drafting committee will review related laws to ensure consistency with new legislation passed by the National Assembly in 2025. It will also focus on clear policy impact assessments in accordance with the Law on Promulgation of Legislative Documents to ensure that the proposed solutions are highly practical. The Ministry of Industry and Trade affirmed that the amendments aim to shift the legal framework mindset from purely management to promoting development, particularly in science, technology, innovation, and digital transformation.