On June 25, 2025, the National Assembly enacted a comprehensive Law amending eight key statutes, including the Law on Bidding, Public–Private Partnership Investment Law, Customs Law, VAT Law, Import–Export Duty Law, Investment Law, Public Investment Law, and the Law on Management and Use of Public Property. The amendments took effect from July 1, 2025.
Key Enhancements:
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Expanded Autonomy for Project Owners
State-owned enterprises and public non-business units may now independently manage contractor selection processes for projects not financed by the state budget, while adhering to principles of openness, transparency, and efficiency . -
Financial Self-reliance Enabled
Public non-business entities with the capacity to self-fund operational and investment costs can similarly conduct procurement outside state-funded frameworks, reinforcing their financial and managerial independence . -
Streamlined Procurement and Fast-track Options
The amendments introduce flexible procurement mechanisms—including fast-track and restricted bidding—for project owners, tailored to the scale and nature of projects, and expand eligibility for direct contractor appointments and special procurement methods. -
Decentralized Investment Policy Authority
The revised Investment Law allows the Prime Minister to delegate approval powers for seven categories of investment projects to provincial-level authorities. Enhanced provisions also strengthen investment monitoring, evaluation, and control . -
Public Investment Planning Authority Realigned
Adjustments to annual central budget-funded investment plans (so long as within total central budget limits) can now be made by the Government. Provincial-level People’s Committees likewise gain authority to revise local investment plans, aligning with the State Budget Law.
This multi-sector law promotes investment efficiency, enhances transparency in procurement, and strengthens local autonomy—while preserving regulatory oversight to safeguard national interests.
