Strict regulations on ODA capital allocation conditions

On November 3, the National Assembly listened to the Submission, the Inspection Report and discussed in groups the contents with different opinions of the projects: Law amending and supplementing a number of articles of the Law on Public Debt Management; Law amending and supplementing a number of articles of the Law on Insurance Business; Law amending and supplementing a number of articles of the Law on Statistics;...

National Assembly Chairman Tran Thanh Man speaks at the discussion group. (Photo: DUY LINH)

Clear responsibility of commercial banks for credit risk

In order to reduce and simplify procedures, the draft Law amending and supplementing a number of articles of the Law on Public Debt Management proposes to add regulations requiring Ministries, People's Committees of provinces and cities, enterprises with 100% charter capital held by the State, and subsidiaries of enterprises with 100% charter capital held by the State to propose ODA loans and foreign preferential loans...

Delegate Nguyen Quang Huan (Ho Chi Minh City Delegation) said that the above regulation does not ensure equal access to ODA capital for private enterprises in accordance with the spirit of Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development. Therefore, it is recommended that the drafting agency consider it. Delegate Le Minh Nam (Can Tho City Delegation) suggested that for subsidiaries of enterprises in which the State holds 100% of charter capital, when borrowing ODA capital, they must still go through the parent company as the focal point for management and control.

Speaking at the meeting, National Assembly Chairman Tran Thanh Man said that by the end of 2025, public debt would be about 35-36% of GDP, government debt about 33-34% of GDP, and foreign debt about 31-32% of GDP - all lower than the allowable limit. This shows that public debt management and administration in recent years has been relatively good, contributing to the goal of ensuring growth, stabilizing the macro economy , curbing inflation, and ensuring social security.

Giving specific comments on the draft, regarding the regulations on the allocation of ODA capital, foreign preferential loans, the draft stipulates cases of allocation to provincial People's Committees and public service units that are allowed to re-borrow, the National Assembly Chairman requested the Government to strictly regulate the conditions, allocation rates, and assess the impact on the central budget.

The National Assembly Chairman noted that it is necessary to carefully assess the impact of the regulation that "commercial banks will make loans and not bear credit risks" because it can lead to "loosening" of appraisal procedures, borrowers, creating great risks and state agencies must bear them. The National Assembly Chairman suggested clearly defining the responsibilities of commercial banks in cases where loans cannot be paid, clearly defining the ratio, and the basis for sharing part of the bank's risks, if any. This must be stipulated in the law or assigned to the Government for guidance in a decree.

Regarding regulations related to the issuance of local government bonds, the National Assembly Chairman also suggested careful evaluation; issuance should be focused at the central level, then the Government will manage the allocation to localities, creating confidence for investors and people, serving the target of double-digit growth.

Commenting on the Draft Law on amending and supplementing a number of articles of the Law on Insurance Business, at the group yesterday morning, delegate Ta Dinh Thi (Hanoi City Delegation) said that it is necessary to clearly define new insurance business models based on digital platforms, the use and protection of Big Data and artificial intelligence (AI) in insurance activities, institutionalize the application of technology in administration, management and supervision; allow piloting of new insurance products and models.

Delegate Nguyen Thi Thuy (Thai Nguyen Delegation) said that voters have reported a lot about the situation of “it is easy to deposit money but very difficult to withdraw it” with life insurance contracts. Some opinions suggested to develop a common insurance contract model that is assessed by competent authorities.

Explaining to the group, Deputy Prime Minister Ho Duc Phoc said that life insurance contracts are a type of conditional business insurance, must be licensed and the contract must be examined by the Insurance Management and Supervision Department. However, it is impossible to prescribe a standard contract because it will reduce the flexibility of companies, especially foreign companies. The Deputy Prime Minister emphasized that the ultimate goal of this amendment is to ensure transparency, avoid insurance fraud or profiteering and protect the rights of insurance participants.

Consumer protection in e-commerce transactions

Discussing the draft Law on amending and supplementing a number of articles of the Law on Statistics, some delegates pointed out the fact that currently at the commune level there is no good technology platform and national database, and data and data nationwide are not updated in a timely and synchronous manner and are not exploited in general. The reporting system, document processing, and reporting deadlines are also not unified so that a report can be used for all agencies, organizations, ministries, and branches. Almost every sector requires reporting for the sector and field under their responsibility, but the inconsistent reporting forms and deadlines have led to the processing of these contents being very time-consuming, affecting the work of grassroots officials and the effectiveness of public service.

Delegates proposed a review to ensure the goal of reducing workload, especially at the commune level, and reducing administrative procedures in statistical work. The drafting agency is researching regulations to simplify all types of reports and related documents to the maximum in the direction that any unit in need can exploit information from national databases, ministerial, sectoral, and local databases; apply information technology and strong digital transformation to shorten the time for exploiting statistical data; and specify methods and mechanisms for coordination, connection, integration, and data sharing to ensure that national statistical data is interconnected, unified, and shared.

Discussing the draft Law on E-commerce, some delegates emphasized the situation of information leakage leading to more and more consumers being scammed when ordering online. Therefore, it is recommended to provide clearer regulations on aspects of this issue in a synchronous and unified manner with the general content regulated by the Law on Network Information Security, the Law on Cyber ​​Security, the Law on Advertising, the Law on Protection of Consumer Rights and separately regulated by the Law on E-commerce such as: Clarifying the conditions for information security, the right to inspect goods, the return of goods and the right to complain when goods do not guarantee the quality, quantity, and type as committed...

The draft stipulates the responsibility of the owner of the e-commerce platform to take measures to prevent, stop real-time streaming, remove displayed information and links when detecting livestream sales content that violates the law or is contrary to public morality. According to delegate Do Duc Hong Ha (Hanoi City Delegation), this regulation is not feasible because it requires a complex artificial intelligence system, beyond the resource capacity of many businesses. Therefore, it is necessary to strengthen the post-inspection mechanism, requiring the platform to receive feedback and handle violations as soon as possible.

However, some delegates said that controlling the livestream sales activities of platform owners is necessary, but it is necessary to assess the impact on technology, costs, efficiency, etc. to have a roadmap to encourage and support them to implement.

Yesterday afternoon, the National Assembly also discussed in groups the draft Law amending and supplementing a number of articles of the Law on Prices.

E-commerce activities are not only the normal trading of goods and services but also include many other activities. I propose to adjust the concept of this activity to include activities that involve data collection, sharing, advertising intermediation, livestreaming, and brokerage on electronic platforms, etc. to overcome the current legal gap.

Delegate DANG THI BAO TRINH ( Da Nang Delegation )

We often do research and legal work, but it is very difficult to read and understand insurance contracts. Therefore, the amended law must clarify the principle of contribution, benefit, and benefit must be easy.

Delegate NGUYEN THANH HAI ( Thai Nguyen Delegation )

Source: https://nhandan.vn/quy-dinh-chat-che-dieu-kien-phan-bo-von-oda-post920368.html