Unlocking Immediate Solutions: Proposing Amendments to Seven Laws

In the afternoon of August 16, Prime Minister Pham Minh Chinh chaired a meeting of the Government’s Standing Committee on the report proposing the construction of a law to amend and supplement seven laws in the field of finance.

At the meeting, delegates discussed and gave opinions on the report proposing the construction of a law to amend and supplement a number of articles of the Law on State Budget, Law on Management and Use of Public Assets, Law on National Reserves, Law on Accounting, Law on Independent Audit, Securities Law, and Law on Tax Administration.

Unanimously agreeing with the Ministry of Finance’s proposal to construct a law amending and supplementing seven laws, the Prime Minister instructed to continue reviewing and addressing urgent issues to help resolve difficulties in production and business activities, promote economic growth, control inflation, and stabilize the macro-economy, ensuring the major balances of the economy.

The Prime Minister emphasized the importance of enhancing decentralization and delegation of power, along with resource allocation, improving implementation capacity, clarifying the responsibilities of each agency and level, and providing tools for strengthened supervision and inspection. He also called for the reduction of redundant administrative procedures, eliminating opportunities for negativity, corruption, and wastefulness, abolishing the “asking-giving” mechanism, and reducing harassment. He instructed central ministries and sectors to focus on performing state management tasks and not to engage in specific tasks.

Regarding state budget management, the Prime Minister noted the need to prevent wasteful spending, flexibly utilize central and local sources, allocate increased budget revenues and savings to large and key projects, address bottlenecks in public asset management to ensure both efficient management and optimal resource utilization, and ensure national reserves are flexible to promptly handle urgent situations. He also emphasized the importance of promoting the application of information technology and digital transformation in tax administration.

The Prime Minister requested the Ministry of Finance to promptly absorb the opinions raised during the meeting, revise and finalize the proposal for the construction of the law project, especially the content of the policies. Based on this, the Ministry will submit it to the Government for consideration and report to competent authorities on matters beyond its competence. The law will then be submitted to the National Assembly for consideration and approval in the near future, ensuring progress, quality, and practicality.