On May 25, at a discussion session in the group on practicing thrift and fighting waste, National Assembly delegate Ha Sy Dong ( Quang Tri ) said that the state budget balance currently deposited in the banking system is quite high, exceeding 1 million billion VND by mid-May.
National Assembly Delegate Ha Sy Dong (Quang Tri). (Photo: Nhu Y)
“This is a painful problem for us, a poor country that always lacks capital for investment and development but has to face the paradox of “having money in your pocket but not being able to spend it”. This is also the “blood clot” that causes blockage of cash flow in the economy , when tax and fee money paid by businesses and people to the State Treasury is “shelved” mainly at the State Bank and has not returned to the economy due to blockage in the public investment disbursement channel” , Mr. Dong said.
Thereby, delegates strongly supported the solutions of the National Assembly and the Government in the direction of continuing to postpone, extend, and reduce a number of taxes and fees to directly support businesses and people, while helping to balance with the slow implementation of development investment spending.
Sharing on the sidelines of the National Assembly, Finance Minister Ho Duc Phoc said that the National Assembly delegates' opinions were "completely correct". According to him, the biggest difficulty in the current economy is limiting aggregate demand, while the structure forming aggregate demand is social consumption, private investment, government consumption, import and export... For the economy to develop, it is necessary to increase private investment and social consumption, which means there must be a policy mechanism, land environment...
“Public investment will lead to the development of private investment. When public investment is disbursed, it will promote socio-economic development, all industries will benefit, leading to private investment. Currently, due to the congestion of public investment disbursement, the Ministry of Finance has to deposit this amount of money from the State Treasury into the State Bank with an interest rate of 0.8% per year,” said Minister Phoc.
Minister of Finance Ho Duc Phoc. (Photo: Nhu Y)
The situation of "capital waiting for procedures" is common.
National Assembly Delegate Ta Thi Yen - Deputy Head of the Delegation Affairs Committee - is concerned about the waste in planning and implementation of planning.
“For example, land that has been allocated but not put into use, or used for the wrong purpose, has been recovered but is still slow to be put into exploitation and use. Or thousands of hectares of land in Thu Thiem peninsula (HCMC), which has very high value. If put into construction and exploitation soon, the State will collect taxes, create jobs, and improve the competitiveness of HCMC in attracting investment,” Ms. Yen said.
Through actual supervision, delegate Yen reflected on the waste in the use of budget resources, especially in the implementation of the 3 National Target Programs.
“The situation of “capital waiting for procedures” is common. Many documents guiding the implementation of works and projects, the content of all 3 programs are issued slowly, and are not suitable for the local situation, regional characteristics, and ethnic minorities, making localities unable to proactively implement projects and works, and slow to disburse funds,” Ms. Yen said.
From the above analysis, the delegate proposed that, based on the inspection report and the delegate's opinions, the National Assembly will assign the State Audit (an agency elected by the National Assembly) to clarify the responsibility for each specific figure.
The Government needs to assign the Government Inspectorate (a functional agency of the Government) to clarify the responsibilities of relevant ministries, branches, localities, organizations and individuals, and report to the National Assembly at the next session.
"Only then will the annual report on thrift practice and anti-wastefulness be truly effective and valuable," said the female delegate.
One law to amend many laws is needed to remove barriers.
Speaking afterwards, Minister of Finance Ho Duc Phoc (Binh Dinh delegation) said that the problems as shared by National Assembly delegates need to be resolved.
According to him, to do so, it is necessary to implement one law to amend many laws, to gather difficulties and obstacles in various fields, on the basis of opinions from localities, National Assembly deputies and National Assembly delegations, and from there submit to the Government and the National Assembly to amend and remove bottlenecks that are currently barriers to development.
According to the Minister, not at this meeting but at the previous meeting, the Ministry of Finance proposed to remove obstacles for localities in renovating and upgrading facilities and works, without having to wait for public investment capital but can spend from regular expenditure sources.
The Ministry of Finance received the consensus of 63/63 provinces and cities and 20/21 ministries and branches. By the time before the 5th session of the 15th National Assembly, the Ministry of Finance had completed the draft resolution of the National Assembly on piloting the use of regular state budget expenditures to renovate, upgrade, expand, and construct new items in facilities and works.
Accordingly, the Ministry of Finance proposes to allow a pilot use of regular state budget expenditures to implement projects with a total cost of less than 15 billion VND to renovate, upgrade, expand, and construct new items in existing facilities and works.
"If implemented, it will remove most of the current obstacles of ministries, branches and localities, because currently, repairing a fence also requires public investment capital, so it cannot be done," said Mr. Phoc.
According to Mr. Phuc, the Ministry of Finance has consulted and received consensus from all ministries, branches and localities, but the Finance and Budget Committee has "rejected" this proposal and requested that it be implemented according to the Law. If there are any problems, it is necessary to propose amending the Law on Public Investment.
“The resolution submitted to the National Assembly, with just a few lines, will resolve these problems of ministries, branches and localities. Regarding authority, the Ministry of Finance will advise to fulfill its responsibilities for the common work,” the head of the Finance sector frankly shared.
Regarding the problem in disbursement, the story of "knowing it is painful, talking about it over and over again" but still not resolved, Minister Ho Duc Phoc said that it is necessary to amend the Law on Public Investment, because currently, ministries, branches and localities are all stuck with the regulations, only when there is capital can a project be established and only when there is a project can there be capital, if so, it will not be possible to do it.
(Source: Tien Phong)
Useful
Emotion
Creative
Unique
Source
![[Photo] National Assembly Chairman Tran Thanh Man visits Vietnamese Heroic Mother Ta Thi Tran](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/7/20/765c0bd057dd44ad83ab89fe0255b783)
Comment (0)