In the afternoon of June 19, concluding the inquiry session on financial matters, National Assembly Chair Tran Thanh Man stated that in the morning and early afternoon, the National Assembly had conducted inquiries and received responses from the Minister of Finance regarding issues under his jurisdiction. Deputy Prime Minister Ho Duc Phoc and Governor of the State Bank Nguyen Thi Hong provided additional answers and clarifications on related matters.
During the session, 44 National Assembly deputies asked questions, and four deputies joined the debate. Chair Tran Thanh Man assessed that the inquiry session was lively and that the questions mostly adhered to the topic, with specific, clear, and concise content. Minister of Finance Nguyen Van Thang was well-prepared and provided thorough responses, directly addressing the deputies’ concerns.
According to the National Assembly Chair, the finance sector has made significant efforts and contributions to macroeconomic stability, inflation control, and revenue growth, ensuring critical balances.
State-owned enterprises continue to play a crucial role in key sectors and industries. The private sector has consistently maintained a decent growth rate. Foreign-invested enterprises (FIEs) have promoted innovation and technology transfer, gradually enhancing the country’s productive capacity. Industrial parks and economic zones have initiated the development of industry and field value chains, contributing to increased localization and large-scale industrial production.
Along with the achievements, the National Assembly Chair also pointed out limitations and shortcomings, as mentioned by many deputies: Low disbursement of public investment; challenges in achieving growth targets, investment, and business activities. State-owned enterprises’ competitiveness remains limited, and most private enterprises have restricted scale, competitiveness, and management skills.
“Simplification of administrative procedures, investment procedures, decentralization, and delegation have not met requirements. Communication and implementation of tax and fee policies are limited. The quality of foreign investment attraction is not high, lacking linkage between FIEs and domestic enterprises. The efficiency of investment in industrial parks and economic zones has not met expectations,” emphasized the National Assembly Chair.
To address these limitations and shortcomings, National Assembly Chair Tran Thanh Man requested that the Minister of Finance, the Government, and related ministries and sectors heed the opinions of the National Assembly deputies and focus on five key issues.
First, strengthen financial and state budget discipline; promote digital transformation and improve the effectiveness and efficiency of state budget collection and expenditure management.
Allocate sufficient state budget resources to accelerate the implementation of the Politburo’s Resolutions on science, technology, innovation, law-making, organizational reform, tuition fee exemption… according to the roadmap. Expedite the disbursement of public investment; decentralize, delegate, reform, and simplify administrative procedures related to investment, production, and business activities.
Second, perfect the mechanism for monitoring and evaluating corporate governance effectiveness. Restructure finance, capital, assets, and streamline organizational structures and personnel to optimize costs and improve labor productivity. Focus investments on key, sustainable industries and fields.
Third, effectively implement Resolution 68 of the Politburo on the private sector and Resolution 198 of the National Assembly on special policies to support the development of the private sector. Study and propose amendments to the Law on Support for Small and Medium-sized Enterprises. Review and complete the legal framework for household businesses, encourage household businesses to transform into enterprises; communicate and provide specific guidance on abolishing the lump-sum tax for household businesses.
Fourth, proactively identify and promptly address obstacles, expedite investment procedures, and accelerate the progress of large-scale FDI projects. Prioritize high-tech enterprises with high added value, with plans for technology transfer and linkages with domestic enterprises. Resolve FDI projects that cause environmental pollution, inefficient land use, or fail to fulfill investment commitments.
Fifth, improve regulations on industrial parks and economic zones. Develop eco-industrial parks and coastal economic zones. Promote decentralization and delegation to enhance state management effectiveness in industrial parks and economic zones.
Today, the National Assembly Questions Finance Minister Nguyen Van Thang.
On Thursday, June 19, the National Assembly will hold a question-and-answer session with members of the Government. The questions directed at Finance Minister Nguyen Van Thang will cover a range of important economic and social issues, including strategies for revitalizing traditional growth drivers and fostering new ones.
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The Minister of Finance, Mr. Nguyen Van Thang, offered an optimistic outlook for the country’s socio-economic development. He stated that the trend indicates month-over-month and quarter-over-quarter improvements. Barring any unforeseen circumstances in June, the growth forecast for the second quarter looks brighter than the first, closely aligning with the projected growth scenario.
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