This was one of the key points emphasized by VCCI President Ho Sy Hung at the conference on the implementation of the new Investment Law, Bidding Law and Land Law, along with several issues related to improving the investment and business environment in Phu Tho Province, organized by the Provincial Entrepreneurs Association.
 

Deputy Prime Minister Nguyen Chi Dung and delegates visit exhibition booths showcasing enterprises’ products at the conference.

According to the President of VCCI, Vietnam is entering an unprecedented phase of institutional reform. Resolution 66 on law-making and enforcement reform and Resolution 68 on private sector development have been issued. In 2025, more than 80 laws and 350 decrees were passed or amended, of which the Land Law, Investment Law and Bidding Law play a central role in shaping the investment and business environment.
Mr. Ho Sy Hung noted that the amended Land Law expands cases of land allocation and lease without auction, shortens land recovery timelines, adjusts land price frameworks closer to market principles, and creates more flexible mechanisms for project implementation.
The amended Investment Law reduces cases requiring investment policy approval, abolishes 38 conditional business lines, and introduces a special investment mechanism for industrial parks, high-tech parks and free trade zones, helping cut procedures and costs. Meanwhile, the amended Bidding Law strengthens transparency and competition and creates better conditions for small and medium-sized enterprises to participate in public procurement.
 

VCCI President Ho Sy Hung delivers remarks at the conference.

“If effectively implemented, these laws will remove bottlenecks and create new growth momentum. In this process, the role of local authorities, including Phu Tho, is decisive,” the President of VCCI said.
Phu Tho holds a strategic position connecting the Northwest with the Red River Delta, with increasingly improved transport infrastructure and strong cultural and historical foundations, creating favorable conditions for industrial, service, tourism and logistics development.
Despite being newly merged from three provinces and facing many transitional challenges, Phu Tho recorded GRDP growth of over 10% in 2025, ranking fourth nationwide. This reflects the province’s strong leadership and the resilience of its business community.
The President of VCCI also acknowledged Phu Tho’s efforts to improve the investment and business environment, noting positive improvements in the Provincial Competitiveness Index (PCI), administrative reforms and a more business-friendly approach by local authorities.
To fully leverage opportunities from the new laws, Mr. Ho Sy Hung proposed several recommendations, including strengthening dialogue with enterprises during the implementation transition, prioritizing the selection of strategic investors, developing modern industrial ecosystems, establishing fast-track mechanisms for key projects, and ensuring consistency among relevant laws and procedures.
VCCI will continue to accompany Phu Tho by supporting policy training, investment promotion, digital transformation and competitiveness enhancement for local enterprises.