Lawmakers look at supervision of economic restructuring
The implementation of economic restructuring processes in public investment, State-owned enterprises and the banking system was the focus of the National Assembly (NA) Standing Committee's 31st session on October 1.
A team led by the Chairman of the NA’s Committee for Economic Affairs Nguyen Van Giau reviewed the implementation of the economic restructuring efforts undertaken since 2011, and documented his findings in a 6,000-page report.
Chairman Giau said a number of policies on restructuring public investment had been developed and had addressed the scattered and ineffective allocation of the State budget.
Mechanisms for reforming State-run enterprises are being implemented, with concise regulations on the rights and obligations of the owners. At the same time, restructuring resulted in a decrease in the number of poorly performing banks and bad debt, while credit institutions’ financial strength improved, he reported.
However, some overlapping regulations were hindering the restructuring of public investments, he noted.
Deputy Minister of Finance Tran Van Hieu highlighted the role of executives in restructuring their State-run groups and corporations. Meanwhile, Deputy Governor of the State Bank of Vietnam Nguyen Thi Hong pushed for a different set of measures to tackle bad debt without the use of the State budget.
Vice Chairman of the NA’s Committee for Judicial Affairs Nguyen Dinh Quyen said the report on economic restructuring needed to examine the responsibilities of each agency and sector, as well as the Government and the NA.
NA Chairman Nguyen Sinh Hung said this was parliament’s high-level supervision report. It therefore required an in-depth analysis of the shortcomings of the economic restructuring process and a clarification of the causes.