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Vietnam Calls for Legal Reforms to Boost Investment and Economic Growth

by admin477351

Vietnam’s top leader, Party General Secretary and President Tô Lâm, has emphasized the need for a legal framework that balances stability with flexibility to foster investment, economic growth, and technological advancement. During a meeting on institutional improvement and law enforcement in Hà Nội, Lâm outlined the importance of a legal system that adapts to scientific progress, new business models, climate change, and international integration.

Lâm stressed that laws should provide clarity on rights and obligations for individuals and businesses while remaining adaptable. He highlighted the significance of linking lawmaking with enforcement, measuring their success by the ability to eliminate administrative and investment barriers, reduce compliance costs, and safeguard the rights of citizens and enterprises.

A comprehensive review of existing legal documents is necessary, according to Lâm, especially those that impede investment, production, and business activities. He also urged authorities to address issues hindering the restructured state apparatus and the exercise of citizens’ rights.

Setting long-term objectives, Lâm proposed measurable targets for Vietnam’s legal system by 2030, aiming for a modern legal framework by 2045, supported by digital data and artificial intelligence, with a professional and transparent judiciary.

He called for increased accountability in policy implementation, ensuring each policy clearly defines responsible agencies, required resources, implementation conditions, and expected outcomes. Administrative documents should not impose requirements beyond those established by law.

Lâm advocated for a focus on preventing violations and managing risks rather than relying mainly on punishment. He suggested leveraging digital transformation and data-based governance to enhance compliance, reduce administrative costs, and improve the efficiency of resolving civil and commercial disputes.

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