Chrysotile is still on the list of conditional businesses of the Law on Investment (amended) in 2020

With 446/458 (reaching 92.34 percent) of voting, on June 17th, the National Assembly of 14th term officially passed the Law on Investment (amended) including 7 chapters, 77 articles and 4 appendices.

At the 9th session of National Assembly of term 14th, the proposal of the Law on Investment (amended) was discussed in the hall. The Standing Committee of National Assembly acquired the opinions of deputies, agencies of National Assembly and the Report No.29/BC-CP of the Government dated June 12th, 2020 on explaination and apprehension in order to direct the agency in charge of verification, the drafting board and relevant agencies for the acquisition and revision of the proposal.

The Law on Investment (amended) aims to institutionalize the resolutions of the Party on perfecting socialist-oriented market economy institution, developing private economy and completing institutions, policies, as well as improving the quality and effectiveness of foreign investment cooperation.

Before the voting of the proposal of the Law on Investment (amended), the Article 6 on sectors banned from investment, Article 7 on conditional businesses, Article 20 on special investment incentives and supports, Clause 4 of Article 75 on amendments to Articles 13 and 14 of the Law on Enterprise Income Tax have been approved by the National Assembly Deputies.

In the list of conditional businesses, “Trading the chrysotile-containing products” is still included in the provisions of Appendix IV of the Law. Accordingly, relevant enterprises must fully meet the constrainsts for investment and business as prescribed by law.

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