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| National Assembly Chairman Vuong Dinh Hue chaired and directed the meeting on the afternoon of November 6. |
At this session, the National Assembly questioned Government members and heads of sectors on the implementation of a number of resolutions of the 14th National Assembly and from the beginning of the 15th National Assembly's term to the end of the 4th Session on thematic supervision and questioning in the fields of industry and trade, agriculture and rural development, transportation, construction, natural resources and environment.
Responding to questions from delegate Ma Thi Thuy, National Assembly delegation of Tuyen Quang province, on the implementation of Resolution 42, the handling of weak and inefficient credit institutions that have not met the set progress; the implementation of the National Target Program on socio-economic development in ethnic minority and mountainous areas for the period 2021-2030, Governor of the State Bank Nguyen Thi Hong said that the Bank has advised the Government to issue Decree No. 28. This is the earliest issued Decree among the decrees implementing Resolution No. 43 of the National Assembly and Resolution 11 of the Government.
After Decree 28 was issued, the Ethnic Committee and the Ministry of Health issued guiding circulars and during the implementation process, these two agencies also issued circulars to amend and replace. As a result, to date, the disbursement has been implemented in accordance with regulations, the outstanding loan balance for policies under this program has reached VND 1,996 billion, with more than 40,000 customers still having outstanding loans.
"However, through assessment, it is shown that the most difficult thing to implement the disbursement of this program is to approve the lists of beneficiaries of the program. Regarding this issue, the State Bank also hopes that the People's Committees of provinces and cities will continue to pay attention to issuing the lists, on that basis, the social policy bank will carry out the disbursement.
Currently, the Government is also assigning the Ethnic Committee to preside over and coordinate with ministries and branches to advise on proposals to amend the program, based on recommendations from businesses and people, as well as recommendations from localities," Ms. Nguyen Thi Hong informed.
Regarding the question related to credit for BOT projects by delegate Nguyen Dai Thang, the National Assembly delegation of Hung Yen province, the Governor of the State Bank said that the capital demand for transport infrastructure projects requires a very large amount of capital and with a long term, the nature of the capital source of the credit institution system is short-term mobilized capital, so lending with large volume and long term is also constrained.
According to Ms. Hong, as of September 30, there were 22 credit institutions providing credit for BOT and BT traffic projects, with a total outstanding debt of VND92,319 billion. However, it is worth noting that bad debt accounts for 3.83%, and more notably, group 2 debt accounts for 26.52% - this is a debt group close to group 3 - bad debt.
The main reason is that the financial plans of the projects are often not the same as the initial construction financial plan. Therefore, it is necessary to mobilize many other financial resources, both domestic and foreign.
"Resolving difficulties" in implementing the Law on Public Investment
At the meeting, Minister of Finance Ho Duc Phoc answered delegate Nguyen Dai Thang, National Assembly delegation of Hung Yen province about issuing electronic invoices. Accordingly, the Ministry of Finance has directed the nationwide implementation of issuing electronic invoices from July 1, 2022 and has been unified nationwide.
For restaurants, supermarkets and petrol stations, the requirement to issue electronic invoices is also directed. At the same time, there is support and guidance on connecting cash registers to the tax authority's database. To date, over 50% of Petrolimex's supermarkets, restaurants and 100% of petrol stations have been connected to the tax authority.
The Ministry of Finance connects tax data with the population database and has solutions to encourage people to get invoices.
Responding to delegate Ha Duc Minh, the National Assembly delegation of Lao Cai province, regarding the extension of the annual implementation period for public investment capital, the Minister of Finance clarified that the Law on Public Investment stipulates the authority to approve and settle public investment capital and public investment projects. Accordingly, the authority at the central level is assigned to the Government, and at the local level is assigned to the People's Council. To change the authority, the Law must be amended. The Ministry will consider and make recommendations on this issue.
Regarding the removal of difficulties in implementing the Law on Public Investment, Minister Ho Duc Phoc said that it is necessary to reform administrative procedures, especially the part on investment preparation from investment policy, investment project establishment, project approval, design appraisal, cost estimates, bidding documents preparation, site clearance, etc.
"These are the longest stages, causing capital to not be disbursed, causing budget congestion and waste. Therefore, there needs to be a solution to shorten the time and simplify administrative procedures for these stages. In particular, site clearance needs to be separated from the project. Investment preparation capital should be used for regular expenditures, assigned to localities and ministries to set up projects, and on that basis, capital can be arranged," the Minister of Finance commented.
Regarding the slow divestment of state-owned enterprises, the Minister of Finance said that during his tenure, the equitization process was slow due to many reasons. For example, enterprises wanting to buy capital from equitized enterprises often look at the value of "golden" land plots, but up to now, they have not been allowed to change the land use purpose from leased land to residential land, so there is no differential rent, so it is not attractive to enterprises; the land use plan has not been approved by local authorities, the land use value is included in the enterprise value that needs to be appraised... ministries, branches, and enterprises have not submitted equitization plans, leading to slow implementation.
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