Ensuring the highest quality when deciding on 4 important contents

On the morning of January 15, the 5th extraordinary session of the 15th National Assembly solemnly opened in Hanoi.

Attending the opening session were: General Secretary Nguyen Phu Trong; former General Secretary Nong Duc Manh; President Vo Van Thuong; former President Nguyen Xuan Phuc; Prime Minister Pham Minh Chinh; former National Assembly Chairmen: Nguyen Van An, Nguyen Thi Kim Ngan; Standing member of the Secretariat, Head of the Central Organization Commission Truong Thi Mai; President of the Central Committee of the Vietnam Fatherland Front Do Van Chien.

Leaders and former leaders of the Party, State, Central Committee of the Vietnam Fatherland Front... also attended.

On the National Assembly side, there were: National Assembly Chairman Vuong Dinh Hue; Permanent Vice Chairman of the National Assembly: Tran Thanh Man; Vice Chairmen of the National Assembly: Nguyen Khac Dinh, Nguyen Duc Hai, Senior Lieutenant General Tran Quang Phuong...

The same morning, the National Assembly held a preparatory session.

On behalf of the National Assembly Standing Committee, in his opening speech, National Assembly Chairman Vuong Dinh Hue said that in order to meet urgent practical requirements, based on the provisions of the Constitution and laws, the National Assembly Standing Committee decided to convene the 5th extraordinary session of the 15th National Assembly to consider and decide on important contents.

About the draft Land Law (amended)

The National Assembly Chairman emphasized that the Land Law is a major law project, of special significance and importance in the country's political, socio-economic, defense, security, and environmental protection life; has a profound impact on all classes of people and the business community; and is also a very difficult and complicated law project.

The draft law has been prepared responsibly, carefully and elaborately by the National Assembly, the National Assembly Standing Committee, the Government and relevant agencies and organizations through many rounds and steps; has been discussed and commented on at 3 National Assembly sessions, 2 conferences of specialized National Assembly deputies, 6 official meetings of the National Assembly Standing Committee and has been revised, absorbing the opinions of experts, scientists and over 12 million comments from the people.

After the 6th Session, the National Assembly Standing Committee closely coordinated and directed relevant agencies to promptly absorb and complete the draft law, and submit it to the National Assembly Standing Committee for comments at two sessions (in October 2023 and January 2024).

After being accepted and revised, the draft law consists of 16 chapters and 260 articles (5 articles removed, 250 articles revised compared to the draft law submitted to the National Assembly at the 6th Session).

To date, the draft law has fully grasped and institutionalized the viewpoints and contents of Resolution No. 18-NQ/TW dated June 16, 2022 of the 5th Conference of the 13th Party Central Committee, in accordance with the Constitution, in sync with the legal system, and qualified to be submitted to the National Assembly for consideration and approval at this Session.

The National Assembly Chairman requested that National Assembly deputies promote a high sense of responsibility, give opinions on the draft law, focus on major issues, important issues raised in the Report on receiving, explaining, and revising the draft law of the National Assembly Standing Committee, ensure the highest quality and consider and vote for approval at this Session.

On the draft Law on Credit Institutions (amended)

Based on the opinions of National Assembly deputies at the 5th and 6th Sessions, the National Assembly Standing Committee directed agencies to urgently study, absorb, explain, and consult with experts and scientists to revise and perfect the draft law, ensuring prudence, thoroughness, and adherence to the requirements of restructuring, enhancing the capacity and efficiency of the credit institution system in accordance with the Party's policies and the National Assembly's resolutions.

The agency in charge of the review and the National Assembly Standing Committee have closely coordinated with the drafting agency and the Government to focus on revising, supplementing and perfecting regulations related to handling cross-ownership, limiting the domination and manipulation of credit institutions; transparent regulations on financial mechanisms, accounting and governance of credit institutions; issues of early intervention, special control, handling of bad debts and assets securing bad debts; enhancing the autonomy and self-responsibility of credit institutions and the responsibility of state management agencies at all levels, inspection, examination and supervision of credit institutions' activities; transitional provisions and consistency of the legal system...

The draft law was thoroughly commented on twice by the National Assembly Standing Committee at the 29th session (January 2024). After being accepted and revised, including 15 chapters and 210 articles (7 more articles, most of the articles were revised compared to the draft law submitted to the National Assembly at the 6th session), it has met the conditions to be submitted to the National Assembly for consideration and decision.

The draft law contains many specialized contents, directly affecting financial and monetary policies and macroeconomic stability. Therefore, the Chairman of the National Assembly respectfully requests that National Assembly deputies carefully and comprehensively study, contribute ideas, complete and consider voting to pass the draft law to meet practical requirements, ensure the safety, soundness, transparency, stability and sustainability of the banking system and credit institutions, develop in accordance with the principles of a socialist-oriented market economy and common international practices and standards, enhance competitiveness, and continue to promote its role as an important capital channel for the economy.

Consider and decide to apply some specific policies

The National Assembly Chairman informed about a number of specific mechanisms and policies for the National Target Programs, implementing the Resolution on thematic supervision at the 6th Session, the Government has submitted to the National Assembly for consideration and decision to apply a number of specific policies to remove difficulties and obstacles, speed up the progress and effectiveness of the implementation of the 3 National Target Programs.

The contents focus on the following main contents: the allocation and assignment of annual central budget regular expenditure estimates; the adjustment of state budget estimates and annual capital investment plans; the use of state budget in cases where the owner of a production development project is assigned to purchase goods for production development activities; specific regulations on the management and use of assets formed from production development support projects; the area and scope of application of regulations on entrusting self-balancing capital of local budgets through the social policy bank system; the regulation of a pilot mechanism for decentralization to the district level to decide on the list, structure, and allocation of state budget capital in implementing programs...

The National Assembly Chairman asked National Assembly deputies to give their opinions on the content and feasibility of each specific regulation to complete and consider passing the resolution at the Session.

Some important contents about finance and budget

At this session, the National Assembly will consider, comment and decide on a number of important and urgent financial and budgetary issues, including: supplementing the Medium-term Public Investment Plan of the central budget for the 2021-2025 period from the general reserve source of the medium-term public investment plan corresponding to the source of increased revenue and savings of the central budget in 2022 for public investment tasks and projects; supplementing the medium-term public investment plan for Vietnam Electricity Group from the reserve source of the Medium-term Public Investment Plan to implement the project of supplying electricity from the national grid to Con Dao district, Ba Ria-Vung Tau province, contributing to promoting local socio-economic development, ensuring national defense and security, national sovereignty over seas and islands, meeting the expectations of voters, people of the island district and the whole country.

In his opening statement, the National Assembly Chairman stated that the 5th Extraordinary Session of the 15th National Assembly takes place in the first days of the new year 2024 - a year of special significance in implementing the Resolution of the 13th National Party Congress and the 5-year Socio-Economic Development Plan 2021-2025 and towards the 14th National Party Congress.

The contents decided at this session are of great importance not only for the implementation of the 2024 socio-economic development plan but also for the entire term, and have fundamental, strategic, and long-term significance.

The National Assembly Chairman respectfully requested that National Assembly deputies promote democracy, uphold the spirit of responsibility, focus on research, discuss enthusiastically, and contribute many dedicated and quality opinions so that the session can complete the entire program content with high unity and consensus.

The agencies of the National Assembly, the Government and relevant agencies, with high determination, great efforts, and close coordination, complete draft laws and draft resolutions of the highest quality for the National Assembly to consider and decide.

Next, Chairman of the National Assembly's Economic Committee Vu Hong Thanh presented a report explaining, accepting and revising the draft Land Law (amended).