Proposal to extend Resolution No. 42/2017/QH14 on the trial settlement of bad debts

DNHN - The National Assembly spent 1.5 days (June 1 and 2 mornings) discussing and evaluating additional results of the implementation of the socio-economic development plan and the state budget in 2021; the implementation of the socio-economic development plan and the state budget in the first months of 2022; and summarizing the implementation of Resolution No. 42/2017/QH14 dated June 21, 2017, on piloting bad debt settlement of credit institutions and extending the time limit.

The majority of delegates stated that, despite many difficulties caused by the COVID-19 pandemic, the economic situation in 2021 and the first months of 2022 has improved as a result of timely decisions made by the National Assembly and the Government. accomplished several excellent outcomes, clearly demonstrating the trend of recovery and expansion.

In their comments on the execution of Resolution No. 42/2017/QH14 on piloting bad debt settlement by credit institutions, the delegates agreed and strongly appreciated the credit institutions' efforts and dramatic and timely direction. Government, ministries, and branches; at the same time, legislation on bad debt management is advocated. 

Delegate Cam Thi Man - The delegation of Thanh Hoa province stated that it is necessary to legislate regulations on bad debt handling to create a stable legal corridor for the handling of bad debts of credit institutions, meeting requests to open capital sources, supporting businesses and people in production and business development, contributing to the country's socio-economic development...

Delegate Nguyen Viet Ha - Tuyen Quang province agreed to extend the implementation of Resolution No. 42/2017/QH14 and incorporate this material in the joint resolution of the 3rd session of the 15th National Assembly under the Government's suggestion.

At the same time, the delegate proposed that the Government continue to direct relevant ministries, departments, and agencies in preparing and executing guiding papers to deal with bad debts more effectively in the future, directing the Resolution's implementation to eliminate hurdles in operational implementation across agencies and overcome restrictions in the Resolution's implementation in the past.

In addition, the delegate proposed that the National Assembly quickly pass the laws on dealing with bad debts, since the Resolution's outcomes demonstrated the appropriateness and importance of enacting legal standards for the work of bad debt settlement.

The delegate said that the Resolution's implementation still has certain flaws that need to be addressed to alter and supplement, such as restrictions on seizing collateral and processes. reducing the payment priority order...

The delegate proposed that the National Assembly instruct relevant authorities to analyze and assess the text of Resolution No. 42/2017/QH14 as well as Government regulations. Law on credit institutions and other essential legal measures will shortly be legislated to provide a tougher, more stable, and more comprehensive legal framework in bad debt administration.

Standing Vice Chairman of the National Assembly Tran Thanh Man concluded the discussion session by saying that after a day and a half of busy, urgent, and serious work, 74 viewpoints were voiced and 4 National Assembly deputies disputed. During the debating session, National Assembly deputies decided that the application date for all sections of the Resolution should be extended to December 31, 2023.

However, Tran Thanh Man, Standing Vice Chairman of the National Assembly, suggested that the government should take more active and effective steps to remove difficulties and obstacles in the Resolution's implementation, as well as urgently study and build a legal framework for dealing with bad debts and collateral.

PV