The implementation of economic restructuring processes in public
investment, State-owned enterprises and the banking system was the focus
of the ongoing 31 st session of the National Assembly (NA) Standing
Committee on October 1.
A team led by the Chairman of the NA’s
Committee for Economic Affairs Nguyen Van Giau reviewed the
implementation of the economic restructuring efforts undertaken since
2011, and documented his findings in a 6,000-page report.
Chairman
Giau said a number of policies on restructuring public investment had
been developed and had addressed the scattered and ineffective
allocation of the State budget.
Mechanisms for reforming
State-run enterprises are being implemented, with concise regulations on
the rights and obligations of the owners. At the same time,
restructuring resulted in a decrease in the number of poorly performing
banks and bad debt, while credit institutions’ financial strength
improved, he reported.
However, some overlapping regulations were hindering the restructuring of public investments, he noted.
Deputy
Minister of Finance Tran Van Hieu highlighted the role of executives in
restructuring their State-run groups and corporations. Meanwhile,
Deputy Governor of the State Bank of Vietnam Nguyen Thi Hong pushed for a
different set of measures to tackle bad debt without the use of the
State budget.
Vice Chairman of the NA’s Committee for Judicial
Affairs Nguyen Dinh Quyen said the report on economic restructuring
needed to examine the responsibilities of each agency and sector, as
well as the Government and the NA.
NA Chairman Nguyen Sinh Hung
said this was parliament’s high-level supervision report. It therefore
required an in-depth analysis of the shortcomings of the economic
restructuring process and a clarification of the causes.-VNA