Deputies at the 14th National Assembly pass the Law on Foreign Trade Management (Photo: VNA)


Hanoi (VNA) – The President Office hosted a press conference on July 12 to
announce six laws that were adopted during the third plenary session of the 14th National Assembly.



They
are Law on Foreign Trade Management, Law on Small and Medium-Sized Enterprise
Support, Law on Technology Transfer, Tourism Law, Irrigation Law, and Railway
Law.



With
8 chapters and 113 articles, the Law on Foreign Trade Management will take
effect on January 1, 2018, aiming to regulate State management over foreign trade
activities without interference in specific activities of traders.



For
the first time, the law affirms the freedom of import and export business of
merchants, excepting for areas banned by the law.



Meanwhile,
the Law on Small and Medium-Sized Enterprise (SME) Support defines that SMEs
are firms having maximum 200 employees, annual revenue of less than 300 billion
VND and capital of under 100 billion VND. It also clarifies support to SMEs in
various fields, including credit access, tax, land use, market and technical
infrastructure. It will become effective on January 1, 2018.



The
Law on Technology Transfer, which will come into force on July 1, 2018, is
developed based on the Law on Technology Transfer 2006. The law has new mechanisms
to assist and encourage businesses to renovate its technology, as well as rules
on commercializing scientific research and technological development outcomes
and measures to develop the science and technology market.



Becoming
operational on January 1, 2018, the Tourism Law pays greater attention to
ensuring the quality of tourism services through regulations on granting
domestic travel business licences, along with simplified administrative
procedures.



Comprising
10 chapters and 60 articles, the Law on Irrigation considers water as a kind of
goods and irrigation services as input costs in production, thus raising public
awareness of using water effectively and economically. The law will take effect
on July 1, 2018.



Looking
towards further development of the railway sector, the Railway Law has 10
chapters and 87 articles, up two chapters and down 27 articles compared to the
2005 version. It is supplemented with clearer regulations on railway
infrastructure building, railway business, railway industry, and special
railway development.



Particularly,
the law include first-ever regulations on high-speed railway, which serve as an
important legal framework for investment in the field in the future. The law
will take effect on July 1, 2018-VNA