On the morning of June 18, the MoIT held the second meeting of the Drafting Committee for the Law on Key Industries. The meeting was chaired by Deputy Minister of Industry and Trade Truong Thanh Hoai.

The meeting was attended by representatives from departments and agencies under the MoIT, as well as representatives from the Ministry of Construction, the Ministry of Science and Technology, the Ministry of Finance, the Ministry of National Defense, the Ministry of Public Security, and the Ministry of Foreign Affairs. Participants also included representatives from research institutes, associations, enterprises and corporations operating in the industrial sector.

Broad consultation to further refine the legislative dossier

At the meeting, Tran Viet Hoa, Director of the Vietnam Industry Agency under the MoIT, reported on the process of reviewing and consolidating feedback on the draft Law on Key Industries.

Accordingly, in implementing the task assigned under Resolution No. 82/NQ-CP on policies for formulating the Law on Key Industries, the MoIT issued Decision No. 968/QD-BCT on April 22, 2026, establishing the Drafting Committee and Editorial Team for the law.

Subsequently, on May 19, 2026, the ministry held its first meeting to collect preliminary comments on the draft. Following the incorporation of recommendations from stakeholders, the ministry issued Document No. 3923/BCT-CN on May 29, 2026, soliciting comments from National Assembly delegations, ministries, sectors, provincial and municipal People's Committees, associations, enterprises and major corporations within a 15-day consultation period.

At the same time, the MoIT issued Document No. 3921/BCT-CN to the Central Committee of the Vietnam Fatherland Front, requesting social criticism and feedback on the legislative dossier.

Based on a review of major guidelines and policies of the Party and the State, together with comments collected from relevant agencies and organizations, the ministry further refined the detailed draft of the Law on Key Industries and updated the latest version on June 14, 2026, for consultation at this meeting.

Forty-eight written comments focus on seven major policy groups

According to the report of the Authority of Industry, the MoIT has so far received and compiled 48 written comments from ministries, sectors, National Assembly delegations, local authorities and Departments of Industry and Trade nationwide.

The comments were grouped into seven key areas, focusing on major issues such as the necessity of promulgating the law and ensuring consistency within the legal system; the scope of regulation and criteria for classifying key industries; investment incentive mechanisms; localization policies; and measures to attract enterprises to participate in production chains.

In addition, many comments addressed legal liability exemptions in certain special cases; the establishment of financial institutions, credit mechanisms and industrial development funds; models for developing key industrial complexes; and policies for developing high-quality human resources, particularly provisions relating to the position of chief engineer in strategic industries.

Strengthening domestic industrial capabilities at the core

At the meeting, Deputy Minister Truong Thanh Hoai said that following the process of collecting feedback from ministries, sectors, associations and relevant agencies, the drafting body had continued revising and refining the draft Law on Key Industries, incorporating a number of important new provisions.

Compared with the version dated May 19, the latest draft has been expanded and provides greater clarity on special mechanisms, while establishing a consistent orientation that places the development of domestic industrial capabilities at its core.

According to the Deputy Minister, the draft introduces various mechanisms to support the development of key industrial enterprises and key industrial complexes, while prioritizing strategic sectors that Vietnam is focusing on developing, including offshore industries, rare earths, strategic materials and a range of financial instruments designed to support enterprises.

One notable new feature is that the draft goes beyond previous regulations by introducing more comprehensive provisions related to the production of first-of-its-kind products, including testing and supervision mechanisms, as well as measures to attract strategic investors to manufacture strategic industrial products.

The draft also sets out specific requirements regarding technology transfer commitments and workforce training, enabling Vietnam to gradually master industrial design and system integration capabilities.

Deputy Minister Truong Thanh Hoai emphasized that the legislative approach adopted in this draft represents a fundamental shift from an industrial development model based largely on investment capital and scale expansion toward a more in-depth development strategy focused on enhancing domestic industrial capabilities.

Regarding foreign investment attraction, after nearly 40 years of attracting foreign direct investment with relatively limited requirements linked to domestic industrial development, the draft law introduces what he described as a “soft pressure” mechanism, requiring foreign investors to contribute to the development of domestic industrial capacity.

According to the Deputy Minister, this represents a highly significant advancement in the draft legislation. Therefore, the review process must be conducted thoroughly to ensure constitutionality, legality and consistency, avoid overlaps with existing legal provisions, and comply with international commitments.

For that reason, he called on members of the Drafting Committee to continue focusing their comments on six key areas, including the scope of regulation, criteria and list of key industries; consistency with sector-specific legislation; alignment with policies approved by the Government under Resolution No. 82/NQ-CP; the feasibility of newly proposed provisions; compatibility with international commitments; and legislative drafting techniques to ensure coherence throughout the entire legislative dossier.

The draft Law on Key Industries must be finalized and submitted to the National Assembly at the earliest possible time. Therefore, the Deputy Minister urged members of the Drafting Committee to continue devoting substantial time and effort to this strategically important piece of legislation.

During the meeting, alongside issues that received broad consensus, delegates engaged in in-depth discussions on several remaining concerns and proposed specific solutions for contents requiring further revision and supplementation.

In response to the Deputy Minister's directives and comments from participants, Director Tran Viet Hoa said that the Vietnam Industry Agency would continue consolidating all feedback from members of the Drafting Committee and Editorial Team, further refine the draft law, related decrees and supporting documents, and submit them to the leadership of the MoIT before proceeding with subsequent steps.

Earlier, on April 3, 2026, the Government issued Resolution No. 82/NQ-CP approving the policy framework for the Law on Key Industries, including two major policy groups: Policy 1, encouraging domestic production and manufacturing of key industrial products; and Policy 2, promoting the development of supporting industries.