provide vs provides

The Law on Investment and Decree No 139/2007/ND-CP provide that a joint venture with 49 per cent or less foreign capital is treated as a domestic enterprise and is established in accordance with investment procedures applicable to such enterprises.
I think that the bold verb above should be “provides”. Is it a mistake here?
And I wonder why the writer used “simple present” here as all actions/events happened in the past.

‘Provides’ woud be my preference as ‘Law’ is a singular subject. The use of the present simple indicates that this Law is not linked to any particular time but exists for all time.

Good morning Alan!
I understand it. :slight_smile: