The Ho Chi Minh City National Assembly Delegation recently held a strategic conference to gather input on the revision of several crucial laws, covering the State Bank regulations, the banking sector, anti-money laundering, and support for small and medium-sized enterprises (SMEs). This meeting marks an important momentum in the government's efforts to eliminate institutional barriers that have historically constrained business actors in the field.
Deputy Head of the National Assembly Delegation, Vo Hoang Ngan, emphasized that synchronizing laws with practical realities is key to improving the national business ecosystem. He highlighted the importance of streamlining administrative apparatuses to make the state management system operate more efficiently, while simultaneously strengthening law enforcement capacity to guarantee legal certainty for investors and entrepreneurs.
A sharp focus was placed on the complexity of SME classifications, which are considered burdensome for businesses. Given that SMEs account for 97% of all business entities, experts proposed shifting the policy approach from an administrative-bureaucratic one toward a more inclusive and generalized approach. This step is expected to cut compliance costs that have hindered the effective implementation of support policies in the real sector.
In the financial and banking sector, delegates made important observations regarding risk prevention. One key point was the push to include high-value asset transactions within the anti-money laundering legal framework. Additionally, there were proposals for commercial banks to expand collateral management services for all corporate bonds—both privately and publicly issued—to provide optimal protection for investors.
All input gathered at this forum is expected to serve as a strong foundation for drafting more transparent and applicable regulations. By simplifying procedural mechanisms, the government remains optimistic about creating a competitive business environment that can respond to national economic development needs more nimbly and effectively.
