Deputy Prime Minister Ho Duc Phoc: Creating a fund for businesses to borrow without collateral is sure to fail.

Deputy Prime Minister Ho Duc Phoc - Photo: N.AN

Emphasizing that developing the private economy is necessary and correct, creating a breakthrough in economic development, the Deputy Prime Minister said that it is necessary to have an open incentive mechanism, ensuring fairness and transparency, without distinguishing between the private economic sector, the State or foreign investment capital.

Sensitive areas only need to be checked once a year, is that enough?

However, regarding the regulation that a business must only be inspected once a year, Mr. Phuc asked whether it was sufficient, especially when there were areas related to food safety, fire prevention, urgent issues... that could expose loopholes.

In fact, Mr. Phuc said there have been instructions on not inspecting the same content more than once a year. However, if this regulation is included, it will not be appropriate to apply it "rigidly" to all sectors. Therefore, he suggested considering assigning the Government to make detailed regulations suitable for each sector.

At the same time, he said that the regulation of exempting enterprises from actual inspections that comply with the law is also inappropriate. Because state management agencies do not know whether enterprises comply correctly or not and are only inspected when there are signs of violations. Therefore, it is necessary to clearly explain this content for implementation in practice, in order to avoid problems.

Speaking on the sidelines of the group discussion, Deputy Prime Minister Ho Duc Phoc added that in important areas related to safety, health and human life, areas with tax risks, trade fraud... inspections need to be stricter than in other areas.

Therefore, it is necessary to decentralize the Government to clearly define the inspection of each field, avoiding the situation of overlapping inspection agencies. In addition, violations discovered during inspections must be strictly handled, especially serious and systematic violations... even criminally prosecuted.

Commenting on the policy of supporting interest rates of 2%/year when borrowing capital for projects on innovation, digital economy, and green economy, Mr. Phuc raised the issue that this content has been applied to Resolution 57 on science, technology and innovation, and continues to be included in Resolution 68 on private economic development, which will raise the question of whether other economic sectors will enjoy incentives or not?

Failure by design?

At the same time, with the mechanism designed as lending, Mr. Phoc frankly stated his opinion: "Failure from the design"? "How can a lending fund be created, I dare you to lend and collect money. There is no mechanism to collect money when there is no collateral, no mortgage. Commercial banks lend with collateral but still cannot collect money" - he said.

Accordingly, he suggested that it is necessary to build a support fund instead of lending, formed from many sources, with the task of supporting businesses. It clearly stipulates what work is supported, such as technology transfer, staff training or support for improving human resources, attracting high technology, site clearance, rewards... to ensure feasibility.

Expressing his views on the issue of inspection, National Assembly delegate Ha Sy Dong (Quang Tri delegation) proposed that during the inspection and examination process, state agencies should not require enterprises to present documents issued by the agency itself, documents that have been published or updated on national databases that the agency has access to.

Also expressing his views at the group, Deputy Prime Minister Nguyen Chi Dung said that including these contents in the draft resolution may not be more specific than what was stated in Resolution 68 of the Politburo, but this is a "major policy that the business community is looking forward to", reflecting the message of the National Assembly and the direction for implementing and amending the following laws.

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Source: https://tuoitre.vn/pho-thu-tuong-ho-duc-phoc-tao-quy-cho-doanh-nghiep-vay-khong-co-the-chap-chac-chan-that-bai-20250515171435152.htm