The National Assembly questioned the first group of issues in the banking sector.

BTO-This morning, November 11, at the National Assembly House, continuing the 8th Session, the National Assembly conducted questions and answers on the first group of issues in the banking sector. National Assembly Chairman Tran Thanh Man chaired the meeting.

“Quick question, quick answer”

Speaking at the question-and-answer session, National Assembly Chairman Tran Thanh Man emphasized that the question-and-answer activities at this session continue to be carried out in accordance with the provisions of the Law on Supervisory Activities of the National Assembly and People's Councils, making the question-and-answer activity increasingly become a highlight of each National Assembly session. Based on the synthesis of issues that National Assembly deputies, voters and people are most concerned about at this session, the 3 groups of issues that the National Assembly will question and answer are under the responsibility of 3 Ministers and Heads of sectors, including: Governor of the State Bank; Minister of Information and Communications; Minister of Health. Also participating in the explanation are Deputy Prime Ministers in charge of the fields and relevant Ministers and Heads of sectors. Prime Minister Pham Minh Chinh will, on behalf of the Government, clarify issues related to the Government's management and directly answer questions from National Assembly deputies at the end of the question-and-answer session.

National Assembly Chairman Tran Thanh Man speaks at the question and answer session this morning, November 11.

The National Assembly Chairman requested that National Assembly deputies closely follow the Resolutions of the Party, the National Assembly, and the Government on socio-economic development and the scope of the questioning content of this Session to objectively assess and carefully consider the difficulties and challenges of the domestic situation and the regional and world context; analyze and properly evaluate the positive aspects, shortcomings, and limitations and propose practical, feasible, and effective solutions and tasks.

The National Assembly Chairman chaired the first group of questions on the banking sector.

Leading the questioning of the first group of issues, National Assembly Chairman Tran Thanh Man said that according to the program, the National Assembly will question the first group of issues in the banking sector. The State Bank of Vietnam has submitted a 16-page report detailing the contents related to the questioning at the session. The National Assembly Chairman asked the National Assembly deputies to focus on questioning three groups of issues: Monetary policy management to control inflation in the context of many fluctuations in the world economy; State management of the gold market and foreign exchange market; Support for loans and exemption and reduction of interest rates for people and businesses to restore production and business after the Covid-19 pandemic and natural disasters. The National Assembly Chairman said that during the course of the management, when necessary, the chair will invite the Minister of Finance, the Minister of Industry and Trade, and the Deputy Prime Minister to report and explain further related issues that National Assembly deputies are interested in.

Clarifying solutions to bad debt

Raising questions related to bad debt, National Assembly delegate of Binh Thuan province Tran Hong Nguyen asked the Governor of the State Bank to assess the current bad debt situation in our country and solutions to solve this problem?

National Assembly delegate of Binh Thuan province Tran Hong Nguyen questioned about bad debt issue.

The delegate asked: "If the bad debt problem cannot be resolved, what difficulties will monetary policy management encounter and what specific solutions does the Governor of the State Bank have when this situation occurs?"

State Bank Governor Nguyen Thi Hong answers questions from delegate Tran Hong Nguyen

Responding to the question of delegate Tran Hong Nguyen about the increasing bad debt issue, Governor of the State Bank Nguyen Thi Hong said that recently, the bad debt situation has tended to increase. According to data from the State Bank, as of the end of September 2024, the on-balance sheet bad debt ratio was at 4.55% - almost equal to the end of 2023, an increase compared to 2022. This is a reality due to the impact of the Covid-19 pandemic, which has seriously affected all aspects of life and society. Businesses and people are facing difficulties, and reduced income makes debt repayment even more difficult.

To control bad debt, the State Bank also proposed a number of solutions. Accordingly, for credit institutions, when lending, it is necessary to carefully assess and evaluate the debt repayment ability of borrowers, ensuring control of newly arising bad debt. As for existing bad debt, it is necessary to actively handle bad debt through urging customers to repay debt, debt collection, and auctioning of bad debt assets. The State Bank also has a legal framework for debt trading companies to participate in handling bad debt.

Source: https://baobinhthuan.com.vn/quoc-hoi-chat-van-nhom-van-de-thu-nhat-thuoc-linh-vuc-ngan-hang-125617.html