The laws will come into effect from January 1, 2007.

The Law on Securities aims at providing a legal framework for the securities market to develop rapidly, in a stable manner, and to protect the legal interests of investors, individuals or organisations investing in the market.

Speaking at a press conference, a representative from the Ministry of Finance, the law’s sponsor, said that the ministry had drafted three decrees guiding the implementation of the law and related legal guides to ensure its implementation immediately after coming into force.

It is expected that the decrees and guides will be submitted to the Government for approval in November, 2006.

With nine chapters and 94 articles, the Law on Lawyers extensively covers terms and conditions for Vietnamese and international lawyers and their firms to practice law. Under the new law, lawyers can represent their clients during legal proceedings and relevant activities.

The Law on Legal Aid highlights the five principles of legal aid in eight chapters and 52 articles. Under the terms of the law, legal aid to needy people must be free of charge, honest and respect the truth.

The law aims at helping poor people and those who have rendered great services to the nation. Lonely elderly people, people with disabilities and disadvantaged people and children are also listed as beneficiaries of the law.