The Seminar on "Legalizing some issues in the spirit of Resolution 42 on bad debt settlement" is taking place.

Attending the discussion, from Vietnam Law Newspaper, there were Mr. Ha Anh Binh - Deputy Editor-in-Chief, journalist Vo Thi Phuong Thao - Deputy Chief Representative in charge of the representative office in Ho Chi Minh City.

Attending the seminar were Mr. Dao Quoc Dung - Local Department 3, Central Propaganda and Mass Mobilization Commission, Mr. Nguyen Duc Lenh - Deputy Director of State Bank Region 2, Prof. Dr. Vo Xuan Vinh - Director of UEH Business Research Institute, Mr. Tran Phuong Hong - Deputy Director of Ho Chi Minh City Department of Civil Judgment Enforcement, Dr. Sy Hong Nam, Deputy Chief of Office of Ho Chi Minh City People's Court, Mr. Nguyen Nhat Thanh - Lecturer of Ho Chi Minh City University of Law, and representatives of state agencies, credit institutions, enterprises, legal experts, press and media agencies...

On the sponsor side of the Bank for Agriculture and Rural Development of Vietnam ( Agribank ), there are: Mr. Nguyen Cong Khoa - Deputy Director of the Center for Problem Debt Management - Agribank, Mr. Vu Viet Hung - Deputy Head of the Legal Department of Agribank; Mr. Dang Van Sang - Deputy Head of the Southern Representative Office of Agribank, MCV Group Joint Stock Company, Mobile Technology Joint Stock Company.

Journalist Ha Anh Binh - Deputy Editor-in-Chief of Vietnam Law Newspaper

In his opening speech, Journalist Ha Anh Binh - Deputy Editor-in-Chief of Vietnam Law Newspaper said that Resolution 42/2017/QH14 dated June 21, 2017 of the National Assembly on piloting bad debt settlement of credit institutions was a major breakthrough in bad debt settlement activities in Vietnam. After more than 6 years of implementation, the resolution has brought about many positive results, contributing to unblocking capital flows, improving the efficiency of credit activities, and creating conditions to promote socio -economic development.

However, after Resolution 42 expires at the end of 2023, the system of credit institutions is facing many difficulties in handling bad debts due to the lack of a specific mechanism. Therefore, the urgent requirement now is to continue to legalize the core and effective contents of Resolution 42 to ensure continuity, stability and sustainability for the process of improving the financial and banking market.

Today's discussion will share practical difficulties, review lessons learned, and especially propose valuable solutions and recommendations to continue perfecting the legal system in the field of credit and finance.

According to Mr. Nguyen Duc Lenh - Deputy Director of the State Bank of Vietnam, Region 2: The handling of bad debts, handling of collateral (TSBĐ) of loans to recover debts still has many shortcomings, as well as the responsibility of customers in borrowing and repaying bank loans... At the same time, from the results of the pilot implementation of bad debt handling according to Resolution 42 of the National Assembly - reflecting the need to legalize some contents of the Resolution to facilitate the process of handling bad debts and improve the efficiency of credit activities, meeting the capital needs of the economy, with high requirements on growth rate. With that meaning, looking from the perspective of management and comprehensive assessment, the legalization of Resolution 42 not only has a direct regulatory impact on the handling of bad debts, handling of collateral (TSBĐ) to recover debts but also brings greater and more comprehensive results in implementing the task of stabilizing the macro economy and promoting economic growth.

“It is necessary to legalize the seizure of collateral, which has a direct impact on bad debt handling. Legalizing this issue is a favorable legal corridor, saving time and other costs for banks in handling bad debt recovery and handling. Creating a correct policy is a resource for economic development,” said Mr. Lenh.

The discussion continued with other presentations from the Ho Chi Minh City People's Court, Ho Chi Minh City Civil Judgment Enforcement Department, and Ho Chi Minh City University of Law.

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Source: https://baophapluat.vn/dang-dien-ra-toa-dam-ve-luat-hoa-mot-so-van-de-theo-tinh-than-nghi-quyet-42-ve-xu-ly-no-xau-post549303.html