Revised Capital Law: Opening new opportunities for economic growth
The revised Capital Law, passed by the 15th National Assembly during its 7th session, features a range of new policies that are meant to empower the city to unlock its full potential, free from ‘institutional bottlenecks’.
Hanoi (VNA)✱ - The revised Capital Law, passed by the 15th National Assembly during its 7th session, features a range of new policies that are meant to empower the city to unlock its full potential, free from ‘institutional bottlenecks’.
The revised law, emphasising further decentralisation and delegation of authority to the municipal authorities, consists of 54 articles arranged into seven chapters – an increase of three chapters and 27 articles compared to the original law first passed more than a decade ago in 2012.
With institutional breakthroughs, businesses in the trade sector are optimistic about expanding investments and operations, aiming to contribute further to the capital’s growth and realise the vision of a civilised, prosperous, and modern Hanoi.
Many foreign retail corporations expand investments in Hanoi. (Photo: Xuan Quang/Vietnam+)
Nguyen Hung Quang, Vice President of the Vietnam International Law Association, said Hanoi’s decentralisation efforts in recent years have simplified administrative procedures for residents and businesses. Many processes previously managed at the provincial level are now handled at the district level, reducing costs and increasing efficiency for enterprises.
According to Dinh Viet Hoa, President of the National Startup Association, Hanoi continues to develop robustly and plays a crucial role as both the capital and one of Vietnam’s two largest economic centres.
“The implementation of the revised Capital Law will create a clear legal framework and a more open business environment, encouraging more entrepreneurs to start businesses, create jobs for the people of Hanoi, and drive economic growth,” he said.
The business community expects the revised law to enhance support for enterprises, boost production and business efficiency, and address institutional and resource challenges in the current economic climate.
Vietnamese products account for over 90% of items at BigC supermarket. (Photo: Xuan Quang/Vietnam+)
Do Tue Tam, Deputy General Director of the Hanoi Trading Corporation (Hapro), highlighted that after 20 years of growth, Hapro has established itself as a prominent export brand, operating in nearly 80 countries and territories and specialising in agricultural products, processed foods, and handicrafts.
The development of businesses in Hanoi reflects significant changes in the city’s economic and social policies, positioning private enterprises as a vital driver of the national economy.
Nguyen Van, Vice President of the Hanoi Supporting Industry Business Association (Hansiba) and Director of the SCSI-Hansiba Startup Support Centre, noted that alongside its well-established startup ecosystem, Hanoi has focused on refining mechanisms and policies to encourage business growth.
Chu Dau ceramics by Hanoi Trading Corporation (Hapro) attract customers. (Photo: Xuan Quang/Vietnam+)
Innovative startups in Hanoi are thriving. Currently, the city is home to over 1,000 innovative startups, accounting for 26.32% of the nation’s total of 3,800. Since 2016, these businesses have attracted billions of US dollars in investment, with hundreds of successful fundraising rounds.
Mac Quoc Anh, Vice President and General Secretary of the Hanoi Small and Medium Enterprises Association, emphasised that the business community is a key driver of the economy, playing a vital role in Hanoi’s development across different periods. The growth of entrepreneurs is closely tied to the capital’s ongoing reform and modernisation efforts./.
Chairman of the Hanoi People's Committee Tran Sy Thanh on August 6 signed Official Dispatch No. 2565/UBND-NC, initiating the implementation of the Capital Law to bring it into daily life and realise the aspirations for the city’s development.
National Assembly deputies are optimistic that with the Capital Law (revised) which was adopted on June 28, obstacles to Hanoi’s development, particularly those related to institutions, will be removed, creating new development spaces for the capital city.
The National Assembly passed the Capital Law (revised) with the approval of 462 out of 470 participating deputies on June 28 morning during its seventh session.
A workshop took place in the south central province of Binh Thuan on March 29 to collect feedback on the revised Law on Management and Use of State Capital Invested in Production and Business in Enterprises.
A representative of the Ministry of Natural Resources and Environment said the widening of the provisions allowing Overseas Vietnamese to own houses will increase the capital flow into the country and promote the utilisation of the land resources in a more effective way.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
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The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
