Effectively handle cross-ownership issues in credit institutions

Presenting the inspection reports of the National Assembly agencies, on the banking sector, Deputy Head of the National Assembly Office Nguyen Thi Thuy Ngan said that the requirements in Resolution No. 134/2020/QH14 and Resolution No. 62/2022/QH15 have basically been seriously and fully implemented, including effectively handling the issues of cross-ownership and cross-investment in the system of credit institutions. The results of handling bad debt have achieved positive results. Credit growth is quite reasonable, credit quality has improved.

However, the completion of the law on restructuring credit institutions and handling bad debts is still slow; there is a lack of preferential policies to encourage investors to participate in handling secured assets and buying and selling bad debts. Finding and negotiating with commercial banks to accept compulsory transfers of weak banks still faces many difficulties.

Reporting at the meeting, State Bank Governor Nguyen Thi Hong affirmed that the audit by National Assembly agencies had objectively and fairly assessed the bank's operations.

Regarding opinions related to cross-ownership, manipulation, "front yard" and "back yard" in the banking sector, the Governor emphasized that this is an issue that the Central Party, the National Assembly and the Government are very concerned about and requested the State Bank to complete legal documents as well as implement them in practice to overcome.

Ms. Nguyen Thi Hong said that, on the record, the situation of cross-ownership has been basically resolved. But in reality, there is a situation of holding shares under the name of others. "Through investigation of recent cases, this has been discovered. This is an issue that the State Bank is very concerned about," said the Governor.

In the draft Law on Credit Institutions, overcoming the situation of cross-ownership and manipulation is the key issue. The draft has designed a number of solutions to reduce the phenomenon of cross-ownership such as expanding the scope of related concepts, reducing the percentage of share ownership in credit institutions, and reducing credit limits. "However, if we wait for regulations to thoroughly handle the problem of cross-ownership, there will be none," Ms. Nguyen Thi Hong stated, adding that regulations like the draft law are only a part, and need to be combined with other regulations to make the activities of organizations and individuals transparent, only then will we aim to reduce this situation.

Regarding bad debt, Governor Nguyen Thi Hong said that in the coming time, the State Bank will use measures to continue handling bad debt according to the provisions of law.

At the meeting, Deputy Prime Minister Tran Luu Quang affirmed that the warnings given are very necessary for the Government to continue implementing in the coming time. From now until the end of the year, the Government will focus on removing difficulties and obstacles within its authority. Regarding banks, the Deputy Prime Minister said that it will focus on creating conditions for organizations and individuals to access capital sources, promoting production and business.

Fire and explosion situation is still complicated

Reporting at the Session on the content of the review of the Ethnic Council and Committees, Deputy Secretary General of the National Assembly Nguyen Thi Thuy Ngan clearly stated the results achieved as well as the shortcomings and limitations in the implementation of relevant agencies in 21 fields.

In the field of industry and trade, the national energy master plan and the national power development plan have been issued. Solutions to ensure electricity supply to stabilize politics and social order and safety have been implemented with attention... However, the issuance of the national energy master plan, the national power development plan, and the goods import and export strategy is still slow. The retail electricity price mechanism is not synchronized with the electricity market; the electricity supply and demand situation is still inadequate. Many hydropower projects have not complied with regulations on construction, planning, environment...

In the field of security, order and social safety, the work of preventing and combating crimes and law violations has been vigorously implemented; reducing some types of crimes. Fire prevention and fighting work has been given attention and directed vigorously. However, the audit report emphasized that the fire and explosion situation is still complicated, the number of large fires causing serious damage to people and property has not decreased.

In addition, the National Assembly Standing Committee commented on the report of the Supreme People's Procuracy on the implementation of the National Assembly's Resolutions, including continuing to improve and enhance the effectiveness and efficiency of implementing policies and laws on urban planning, management and land use. Through the implementation of their functions and tasks, the Procuracy at all levels has issued 14 recommendations to relevant agencies and organizations to apply measures to prevent violations and crimes in land-related management activities.