The fifth extraordinary session of the 15th National Assembly has fundamental, strategic, and long-term significance (*)

National Assembly Chairman Vuong Dinh Hue delivered the opening speech at the session.

Dear Comrade Nguyen Phu Trong, General Secretary of the Central Executive Committee of the Communist Party of Vietnam ,

Dear leaders and former leaders of the Party, State and Vietnam Fatherland Front ,

Dear Congress,

Dear guests,

Dear compatriots and voters nationwide,

On behalf of the National Assembly Standing Committee, I warmly welcome the leaders of the Party, State, Vietnam Fatherland Front, National Assembly deputies, and distinguished guests to attend the opening session of the 5th Extraordinary Session.

Dear Congress,

To meet urgent practical requirements, based on the provisions of the Constitution and laws, the Standing Committee of the National Assembly decided to convene the 5th Extraordinary Session of the 15th National Assembly to consider and decide on the following important contents:

First, about the draft Land Law (amended)

The Land Law is a major Law project, of special significance and importance in the political, socio-economic, national defense, security and environmental protection life of the country; it has a profound impact on all classes of people and the business community; at the same time, it is also a very difficult and complicated Law project. The Law project 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; it has been discussed and commented on at 3 National Assembly sessions, 2 conferences of full-time 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 opinions of the People. After the 6th Session, the National Assembly Standing Committee closely coordinated and directed relevant agencies to urgently study, absorb, and complete the draft Law, and submit it to the National Assembly Standing Committee for comments at two sessions (December 2023 and January 2024). The draft Law, after being absorbed and revised, consists of 16 chapters and 260 articles (removing 5 articles and revising 250 articles compared to the draft Law submitted to the National Assembly at the 6th Session). Up to now, 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, consistent with the legal system, and qualified to be submitted to the National Assembly at this Session. We request that National Assembly deputies uphold a high sense of responsibility, continue to give opinions on the draft Law, focusing on major and important issues according to the Report on reception, explanation and revision of the draft Law of the National Assembly Standing Committee, ensuring the highest quality and consideration and voting for approval at this Session.

Second, on the draft Law on Credit Institutions (amended)

Based on the opinions of the National Assembly deputies at the 5th and 6th Sessions, the National Assembly Standing Committee directed the agencies to urgently study, absorb, explain, and consult with experts and scientists to revise and complete the draft Law, ensuring caution, thoroughness, and adherence to the requirements of restructuring, improving 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 focused 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, compulsory transfer, and bankruptcy of credit institutions under special control; handling bad debts and assets securing bad debts; autonomy and self-responsibility of credit institutions and responsibilities of state management agencies, inspection, examination and supervision of credit institution activities; transitional provisions; 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, it includes 15 chapters and 210 articles (an increase of 7 articles, many articles revised compared to the draft Law submitted to the National Assembly at the 6th Session), meeting the conditions to be submitted to the National Assembly for consideration and decision.

The draft Law has many in-depth contents, directly affecting financial and monetary policies and macroeconomic stability. Therefore, it is recommended that National Assembly deputies carefully and comprehensively study, contribute ideas, complete and consider and vote 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 and common international practices and standards, enhance competitiveness, and continue to promote its role as an important capital channel for the economy.

Third, regarding a number of specific mechanisms and policies for the National Target Programs, implementing the Resolution on thematic supervision at the 6th Session, the Government 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, focusing on the main contents: (i) the allocation and assignment of annual central budget regular expenditure estimates; (ii) the adjustment of state budget estimates and annual capital investment plans; (iii) the use of the state budget in cases where the project owners of production development are assigned to self-purchase goods to serve production development activities; (iv) specific regulations on the management and use of assets formed from production development support projects; (v) the area and scope of application of regulations on the entrustment of self-balancing capital of local budgets through the social policy bank system; (vi) Regulations on pilot mechanism of decentralization to district level to decide on list, structure, allocation and use of state budget capital in implementing programs...

Based on the results of the National Assembly's supervision and the rich practices in their ministries, branches, localities and units, we request that National Assembly deputies give their opinions on the content and feasibility of each specific provision in the draft to complete and consider passing the Resolution at this Session.

Fourthly, at this Session, the National Assembly will consider, comment on and decide on a number of important and urgent financial and budgetary issues, including: (i) supplementing the Medium-Term Public Investment Plan of the central budget for the 2021-2025 period from the general reserve source corresponding to the increased revenue and savings of the central budget in 2022 for public investment tasks and projects; and (ii) supplementing the Medium-Term Public Investment Plan for Vietnam Electricity 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 the socio-economic development of the locality, 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.

View of the opening session of the meeting.

Dear Congress,

The 5th extraordinary session of the 15th National Assembly took place in the first days of the new year 2024 - a year of great significance in implementing the Resolution of the 13th National Party Congress and the 5-year socio-economic development plan for 2021-2025 and towards the 14th National Party Congress. The contents decided by the National Assembly at this session are of great significance not only for the implementation of the socio-economic development plan for 2024 and the entire term but also have fundamental, strategic and long-term significance. On behalf of the National Assembly Standing Committee, I request the National Assembly deputies to 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. Propose that the agencies of the National Assembly, the Government and relevant agencies, with high determination, great efforts, close coordination, complete the draft laws and resolutions of the highest quality for the National Assembly to consider and decide.

With new spirit and determination to welcome 2024, I declare the opening of the 5th Extraordinary Session of the 15th National Assembly.

Respectfully send to the leaders, former leaders of the Party, State, Vietnam Fatherland Front, revolutionary veterans, National Assembly delegates, compatriots and soldiers nationwide wishes for health, happiness and success.

Wishing the meeting great success!

Thank you very much Congress!

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