NA deputies agree on resolution to settle bad debt

Numerous National Assembly (NA) deputies on May 26 agreed upon the government proposed resolution to settle non-performing loans during group discussions.

Deputy Head of the Economic Committee, Deputy Nguyen Duc Kien expected the resolution to comply with market principles and pursue criminal procedures against individuals and entities’ wrongdoings for profiteering. He said the resolution should rule out state budget use to settle bad debt.

NA deputies agree on resolution to settle bad debt ảnh 1
NA deputies agree on resolution to settle bad debt

 “The resolution suggests a time frame of effectiveness from this July 2017 to July 2022. It does not differentiate ownership structure of credit institutions and applies for all credit institutions operating in Vietnam in line with WTO and free trade agreements that Vietnam has committed.

The resolution deals with bad debt before December 31, 2016. All nonperforming loans accumulated after January 1, 2017 shall be dealt with by the Law on Credit Organizations. The resolution has an important provision to settle secured assets," he said.

Deputy Kien said he hopes that the resolution if approved would help settle bad debt worth VND 60 trillion. Lending interests could be lowered to 0.75% to facilitate absolute settlement by next quarter.   

VOV

Other News

National Assembly Chairman urges renovation in leadership, working style

National Assembly Chairman urges renovation in leadership, working style

The NA's Committee for Cultural and Social Affairs has moved fast to reshuffle its organisation after the 14th National Party Congress and the election of deputies to the 16th NA, updating its work agenda to match new directives set out in the resolutions of the 14th National Party Congress and the first Congress of the NA Party Organisation for the 2025–2030 term.

Vietnam treasures ties with Croatia: PM

Vietnam treasures ties with Croatia: PM

Vietnam and Croatia should strive to double bilateral trade turnover from the current level of 161 million USD; study the establishment of a Joint Committee on Economic Cooperation to create a long-term, stable, and effective framework for collaboration, said Prime Minister Le Minh Hung.

President Ho Chi Minh's enduring legacy highlighted at Venezuela commemoration

President Ho Chi Minh's enduring legacy highlighted at Venezuela commemoration

Vice President of the United Socialist Party of Venezuela (PSUV) Jesús Faria expressed deep admiration for President Ho Chi Minh and Vietnam’s indomitable struggle for national independence. He described President Ho Chi Minh as an immortal symbol of 20th-century national liberation movements, whose legacy continues to inspire leftist parties, progressive movements, and peoples across Latin America, including Venezuela.

Vietnam proposes key cooperation orientations at BRICS Foreign Ministers' Meeting

Vietnam proposes key cooperation orientations at BRICS Foreign Ministers' Meeting

Deputy Foreign Minister Nguyen Minh Hang shared Vietnam’s approach to building an independent and self-reliant economy linked to deep international integration, while proposing several key areas for enhanced cooperation between BRICS and partner countries at the Expanded BRICS Foreign Ministers' Meeting that opened on May 14 in India.

Vietnam asks parties to respect its sovereignty over Truong Sa

Vietnam asks parties to respect its sovereignty over Truong Sa

PSNews - The spokesperson stated that the dispatch of personnel by relevant parties to features belonging to Truong Sa without Vietnam’s permission constitutes a violation of Vietnam’s sovereignty under international law. She stressed that such actions run counter to the Declaration on the Conduct of Parties in the East Sea (DOC) as well as ongoing efforts by countries to negotiate a Code of Conduct in the East Sea (COC).

Hanoi to host ASEAN Future Forum 2026 in mid-June

Hanoi to host ASEAN Future Forum 2026 in mid-June

PSNews - Vietnam’s proposals placed the highest priority on ensuring a peaceful and stable environment conducive for continued sustainable development and improving the well-being and happiness of the ASEAN people. They were praised by member states and incorporated into the core contents of the ASEAN Leaders’ Statement on the response to the Middle East crisis.

Vietnam promotes cooperation with United Nations on crime prevention

Vietnam promotes cooperation with United Nations on crime prevention

Vietnam highly values the support of the United Nations Office on Drugs and Crime (UNODC) in strengthening national capacity in crime prevention and criminal justice, drug control, and addressing emerging challenges, particularly cybercrime, said Ambassador Vu Le Thai Hoang.

Party, State leader calls for consolidation of central steering committees on legal, judicial reform

Party, State leader calls for consolidation of central steering committees on legal, judicial reform

Consolidating the central steering committees for institutional and legal reform and for judicial reform is necessary in order to streamline organisational structures without reducing responsibilities, while ensuring clear accountability, measurable outputs and concrete results. Following the restructuring, the body will be renamed the central steering committee for institutional improvement and law enforcement, with the Party General Secretary and State President serving as its head.

Vietnam strives for substantive outcome at NPT review conference

Vietnam strives for substantive outcome at NPT review conference

At the meeting this week, Ambassador Viet briefed the UNGA President on developments during the first two weeks of the conference. He stressed that the current international geopolitical landscape poses numerous complex challenges, while reaffirming Vietnam’s determination, together with other member states, to promote substantive and balanced outcomes at the conference.

Top leader of Vietnam receives Vientiane official in Hanoi

Top leader of Vietnam receives Vientiane official in Hanoi

The host leader stressed that cooperation between localities, particularly between the capitals of Hanoi and Vientiane, plays an especially important role as a pioneering force in effectively implementing the foreign polices of the two Parties and States, while also serving as a bridge between politics and development, as well as between strategy and concrete action.