Finance Minister Dinh Tien Dung is the first cabinet member to answer questions raised by National Assembly deputies at the legislature's Q&A sessions, which began on November 16 in Hanoi.
|Finance Minister Dinh Tien Dung
His answers were focused on tax administration (settlement of issues on tax arrears, inspection, inspection, tax loss, transfer pricing), customs-related issues to ensure a secure and sustainable finance and solutions for strengthening public debt management in a safe and effective manner.
Voter Hoang Kim Ngan from District 1, Ho Chi Minh City said Minister Dung clarified issues relating to taxes, transfer pricing, public debt management, and tax administrative procedure reform to improve the investment environment.
“The Ministers introduce feasible solutions including strengthening coordination between ministries and sectors in reforming administrative procedures toward the national one-door mechanism and ASEAN’s one-stop-shop regime that will greatly benefit Vietnamese enterprises. The Minister also pointed out the difficulties in carrying out this work," Ngan said.
Nay Pek, a voter in Krong Pa district, Gia Lai province said, "The government needs to increase investment and resources for remote areas to help farmers expand their farms and restructure crops and livestock production. It’s important to provide vocational training for ethic minority people to help them escape poverty.”
|State Bank Governor Le Minh Hung
State Bank of Vietnam (SBV) governor Le Minh Hung answered National Assembly deputies’ questions on pro-business monetary policy, credit growth, non-performing loans and mobilization of public foreign currency.
He put forth credit growth scenarios to fuel economic development.
“We plan to nurture a credit growth rate of 18% this year with flexible adjustment in the context of macro economic development. Credit growth must be of good quality and efficient. Supervision on credit growth must ensure financing on economic development without inflation pressure," the SBV chief said.
The governor said he has directed expansion of credit access to agricultural farming while rejecting the legitimacy of Bitcoin as an encrypted currency in Vietnam. He listed solutions to deal with bad debt.
“The legal framework must be fine-tuned to ensure a safe, fair and solid banking sector, including our submission of the draft Law on Credit Institutions. We have selected 6 pilot banks to speed up non-performing loans settlement before expansion to other banks. Our persistent policy is to stabilize the macro economy, and control inflation as a foundation to lower lending interest rates," he added.VOV