NA Chairman Vương Đình Huệ delivers a speech at the opening of the third session of the 15th National Assembly Standing Committee. VNA/VNS Photo Trọng Đức

HÀ NỘI – The 15th National Assembly Standing Committee opened its third session on Monday, which is expected to last until September 22.

Opening the session, NA Chairman Vương Đình Huệ said six draft laws would be tabled for discussion for the first time at this session, which are important to the completion of the legal system and ensuring the system’s consistency, as well as to the implementation of the country’s commitments under signed new generation free trade agreements like the CPTPP and EVFTA.

The NA Standing Committee will also perform its supervision function through examining reports on the enforcement of the Constitution, laws and NA resolutions, as well as the implementation of the National Target Programme on socio-economic development in ethnic minority and mountainous regions in 2021-2030.

The committee will give opinions on a detailed plan on thematic supervision of the National Assembly and the NA Standing Committee in 2022.

Several measures regarding tax reduction and exemption to support enterprises and citizens affected by the COVID-19 pandemic will be submitted to the committee for consideration and approval during this session.

The committee will consider the establishment of Từ Sơn City in northern Bắc Ninh Province, the Prime Minister’s proposal on the appointment of Extraordinary and Plenipotentiary Ambassador of the Socialist Republic of Việt Nam, and the signing of an international treaty in which Việt Nam provides an office for the Permanent Court of Arbitration (PCA).

After the opening, the committee scrutinised the draft law on insurance business under the NA Vice chairman Nguyễn Đức Hải.

Minister of Finance Hồ Đức Phớc said that the revised law overcomes limitations after more than 20 years of implementing the Law on Insurance Business in 2000.

The revised law helped to perfect the legal regulations on insurance business; handling conflicts, overlaps and inadequacies of the Law on Insurance Business with legal documents promulgated by the National Assembly; reforming administrative procedures in insurance business activities and authorised management, inspecting and handling violations on insurance business activities.

Chairman of the Economic Committee of the National Assembly Vũ Hồng Thanh agreed with the revised law, but said the legislative body needed to create a legal basis for building a national database on insurance businesses. The Ministry of Finance would be assigned to manage it.

Speaking at the session, National Assembly Chairman Huệ said the development of the country’s insurance market remained limited.

He suggested the legislative body pay attention to the opinions from the Vietnam Chamber of Commerce and Industry, Vietnam Insurance Association, and the Consumer Protection Association.

Regarding insurance contracts, Huệ requested a careful review of civil contracts, in which the compatibility of the contract needed to be considered carefully to ensure fairness between the parties. VNS