Draft investment law.

The article reports that Vietnamese authorities are ready to pass a draft law to amend several laws on investment and construction in Vietnam. The laws to be amended include the Investment Law, Construction Law, Environment Law and Fire Protection and Prevention Law, and the Law on Corporate Income Tax. The first proposed amendment is to remove the re-registration deadline for existing foreign invested enterprises that were incorporated before July 1, 2006. Under the proposed law, a foreign invested enterprise will be defined as a company in which a foreign investor owns 30% or more of the capital or equity. It is stated that the Government's purpose in all these proposed amendments is to improve the investment conditions in Vietnam.