Hanoi: Lawmakers on August 27 discussed a draft Law amending and supplementing several articles of the Law on Commerce, Law on Competition, Law on Foreign Trade Management, and Law on Protection of Consumer Rights during the 5th session of the National Assembly (NA) Standing Committee.
According to Vietnam News Agency, the discussions focused on addressing existing challenges and streamlining processes within the industry and trade sectors. The amendments aim to improve the legal framework for commerce, enhance the competitive environment, and strengthen consumer protection mechanisms. Lawmakers emphasized the importance of these legislative changes in facilitating better trade practices and ensuring fair competition.
The session witnessed active deliberations among members of the Standing Committee, who reviewed the proposed amendments in detail. They considered feedback from various stakeholders to ensure the laws are comprehensive and effective in addressing the current bottlenecks. The proposed changes are expected to create a more conducive environment for both domestic and foreign trade activities.
The draft Law is part of a broader effort by the National Assembly to modernize and refine the country’s legal infrastructure in response to evolving economic dynamics. The amendments are anticipated to boost investor confidence and support sustainable economic growth. Lawmakers will continue to review and refine the proposals before they are presented for further consideration and approval.