They are the Capital Law (revised); the Law on amendments and supplements to a number of articles of the Law on Asset Auctions; the Law on amendments and supplements to a number of articles of the Law on Land, the Law on Housing, the Law on Real Estate Business and the Law on Credit Institutions; the Law on Roads, and the revised Law on Social Insurance.
The revised Capital Law, consisting of seven chapters and 54 articles, will take effect on January 1 next year. It clearly defines the position and role of the capital city, policies and responsibilities for construction, development, management, and protection of the capital.
Also taking effective on January 1, 2025, the Law on amendments and supplements to a number of articles of the Law on Asset Auctions is expected to contribute to preventing and combating corruption, other negative phenomena and wastefulness; improving the professionalism and specialization of the contingent of auctioneers and asset auction organizations; addressing limitations and inadequacies to ensure openness, transparency and objectivity; promoting the application of information technology and digital transformation in asset auction activities; and improving the efficiency and effectiveness of state management of asset auctions.
Meanwhile, under the Law on amendments and supplements to a number of articles of the Law on Land, the Law on Housing, the Law on Real Estate Business and the Law on Credit Institutions, these laws will come into effect on August 1, 2024, five months ahead of the initial schedule of January 1, 2025.
The Law on Roads comprises six chapters and 86 articles, regulating road operations and state management in this field. It will become effective on January 1, 2025.
Becoming effective on July 1, 2025, the revised Law on Social Insurance comprises 11 chapters and 141 articles. The revised law only enables one-time social security payments under certain circumstances, thus helping increase the number of people who remain in the social security system for long-term benefits.
One day earlier, the Presidential Office also made public the State President’s order to promulgate six laws also adopted at the legislature's 7th session. They consist of the revised Law on Organization of People's Courts, the 2024 Law on Road Traffic Order and Safety, the 2024 Law on Archives, the Law on Management and Use of Weapons, Explosive Materials, and Support Tools, the Law on Defense, Security Industries and Industrial Mobilization, and the Law on amendments and supplements to some articles of the 2024 Law on VIP Protection.
