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On July 12, the President’s Office hosted a press conference to announce 12 laws approved at the 3rd session of 14th National Assembly.

These include the Law on Supporting Small and Medium-Sized Enterprises, the Law on Foreign Trade Management, the Law on Railways, the Law on Technology Transfer, the Law on Tourism, the Law on Irrigation, the Law on the State’s Compensation Responsibility, the revised Criminal Code, the Law on Legal Assistance, the Law on Bodyguards, the Law on Management and Use of Weapons, Explosive Materials, and Supportive Tools, and the Law on Management and Use of Public Asset.

The Law on Supporting Small and Medium-Sized Enterprises, which will take effect next year, clearly specifies the criteria for defining small and medium-sized enterprises, and regulates support for those enterprises in credit access, taxes, accounting, production premises, and market expansion.

The new Law on Irrigation, which will take effect next July, shifts from irrigation fees to prices of irrigation products and services to ensure better irrigation services. The Law on Technology Transfer has added a chapter regulating technical assessments of investment projects to avoid importing out-of-date equipment to Vietnam.

It also clearly defines the responsibility of State management agencies to examine technological transfers involved in investment projects. The law will take effect next July.

The revised Criminal Code, which will take effect next year, adds regulations on adolescent law offenders. The Law on Management and Use of Public Asset contains additional regulations on community oversight of public asset.

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