As per the agenda for the 8th session of the 15th National Assembly, on the afternoon of November 25, the National Assembly will discuss solutions to support Vietnam Airlines’ recovery.
Specifically, on November 25, the National Assembly will hold a discussion in the hall on the draft Law on Amending and Supplementing a Number of Articles of the Law on Advertising. Following this, the Minister of Culture, Sports and Tourism will provide explanations and clarify issues raised by the National Assembly deputies.
From 4 pm to 5 pm, the Deputy Prime Minister and Minister of Finance, on behalf of the Prime Minister, will present a report on solutions to continue removing difficulties caused by the Covid-19 pandemic, enabling Vietnam Airlines to recover and sustainably develop.
The Chairman of the National Assembly’s Economic Committee will present a report verifying the above content. Subsequently, the National Assembly will discuss in the hall solutions to continue overcoming challenges posed by the Covid-19 pandemic, aiming at the swift recovery and sustainable development of Vietnam Airlines.
The Deputy Prime Minister and Minister of Finance will provide further explanations and address the issues raised by the National Assembly deputies.
National Assembly to discuss solutions for Vietnam Airlines (Photo: VNA)
Recognizing the emerging opportunities for growth, Vietnam Airlines has finalized its restructuring plan – a comprehensive proposal with strategies to enhance the competitiveness of the national flag carrier of Vietnam.
The Vietnam Airlines restructuring plan, submitted by the Government to the National Assembly, includes a proposal to allow Vietnam Airlines to offer additional share sales to existing shareholders to raise its charter capital to a maximum of VND 22,000 billion. Currently, Vietnam Airlines is unable to execute this due to restrictions under the Securities Law and the Law on Management and Use of State Capital Invested in Production and Business.
Another proposal suggests that Pacific Airlines be exempted from late payment penalties and late payment interest on tax debts arising from decisions of competent tax authorities.
In 2020, the National Assembly passed Resolution 135 to support Vietnam Airlines amid challenges posed by the Covid-19 pandemic. This resolution included a provision for re-lending and issuing shares, with a total value of VND 12,000 billion.
Most recently, the National Assembly approved a debt repayment extension for Vietnam Airlines’ re-lending loan.
Experts have assessed that these support packages have served as a critical lifeline for Vietnam Airlines during its most challenging period.
However, at this juncture, as the economy seeks to boost the aviation industry to drive growth and benefit the entire supply chain, a long-term strategy for capital enhancement is imperative for the enterprise.
The Vietnam Airlines restructuring plan aims for complete recovery and sustainable development before 2035.
With emerging opportunities, the development of Vietnam Airlines represents not only the progress of Vietnam’s aviation industry but also reflects the nation’s image, people, and brand in this era of advancement.
The Housing Act: Governing the Real Estate Market and Social Housing Development
On November 23rd, as part of the 8th Session of the National Assembly, a resolution was passed to “Continue enhancing the effectiveness of policies and laws related to the management of the real estate market and the development of social housing.” This session was presided over by Vice Chairman of the National Assembly, Nguyen Duc Hai.
“Streamlining the Organizational Structure of the National Assembly’s Agencies”
Chairman of the National Assembly Tran Thanh Man appointed Head of the Steering Committee for Innovation and Organization of a Streamlined, Effective, and Efficient Apparatus at the National Assembly, the Agencies under the Standing Committee of the National Assembly, and the Office of the National Assembly.
“Long Thanh Airport Project’s Phase 1: A Timeline Update”
The National Assembly’s Economic Committee agreed on the necessity to adjust the investment policy for the Long Thanh International Airport project. They approved the adjustment of the investment schedule for the construction of Runway 3, moving it from Phase 3 to Phase 1. This decision aims to ensure the synchronized operation of Runway 3 with Phase 1, and also extended the deadline for the completion of Phase 1 to December 31, 2026.
The Art of Eloquent Leadership: A Conversation with Prime Minister Pham Minh Chinh
Prime Minister Pham Minh Chinh will address issues related to the Government’s management and directly answer questions from National Assembly deputies.
Vietnam Airlines Posts Near-Thousand Billion Profit for Third Consecutive Quarter, Yet Remains in a 35,000 Billion Cumulative Loss, With Stock Rising for Four Straight Sessions
For the nine-month period ending September 2024, Vietnam Airlines reported a revenue of VND 79,161 billion, a remarkable 17% increase compared to the same period last year. The airline also achieved a impressive net profit of nearly VND 6,000 billion during this time frame.
