Vietnam National Assembly Convenes Extraordinary Session to Streamline Customs and Business Regulations

The 16th National Assembly of Vietnam officially commenced its first extraordinary session on Monday, August 3, 2026, at the National Assembly House in Hanoi. The session began its first working day under the chairmanship of National Assembly Chairman Tran Thanh Man. A key focus of this extraordinary session is the reform of customs procedures. Through amendments to the Law on Customs, the aim is to simplify procedures and promote voluntary compliance among taxpayers. This is considered a crucial step towards facilitating trade and enhancing international competitiveness. Furthermore, the National Assembly Chairman instructed a continued review and substantial reduction of 'business conditions.' This initiative is part of broader deregulation efforts designed to attract domestic and foreign investment and invigorate corporate activities. In parallel, the simplification of administrative procedures will be advanced in conjunction with promoting digital transformation in the resolution of state compensation claims. This is expected to lead to faster and more transparent administrative services. Under Vietnam's one-party system led by the Communist Party, the National Assembly plays a vital role in legislation and policy-making. While Vietnam's economy has achieved remarkable growth in recent years, simplifying bureaucratic procedures and improving the business environment are considered essential for its sustained development. Especially amidst complex relations with China, and the increasing need to strengthen domestic economic autonomy and its position in international supply chains, these legislative changes are poised to be significant policies for further accelerating economic growth.