Continue implementing the pilot program for handling bad debts of credit institutions.

Previously, on June 16, 2022, the 15th National Assembly passed Resolution No. 63/2022/QH15 on the content of the 3rd Session of the 15th National Assembly. Accordingly, the National Assembly agreed to extend the application period of all provisions of Resolution No. 42/2017/QH14 on piloting the handling of bad debts of credit institutions (Resolution No. 42/2017/QH14) from August 15, 2022 to December 31, 2023. In Resolution 63/2022/QH15, the National Assembly requested the Government to find solutions to overcome the difficulties and obstacles mentioned in Report No. 174/BC-CP dated May 11, 2022, and to direct the strengthening of coordination among agencies and units in organizing the implementation of the Resolution, ensuring its effectiveness and efficiency.

Based on the directives of the National Assembly, in addition to continuing to implement Directive 32/CT-TTg dated July 19, 2017, on the implementation of Resolution No. 42/2017/QH14 on piloting the handling of bad debts of credit institutions, to ensure the effective implementation of Resolution No. 42/2017/QH14 during its extended period, the Government requests Ministers, Heads of ministerial-level agencies, Heads of government agencies, and Chairmen of People's Committees of provinces and centrally-administered cities to direct and carry out a number of tasks.

The Ministry of Justice continues to direct the General Department of Civil Judgment Enforcement to review outstanding judgment enforcement cases related to the handling of secured assets for debt recovery, focusing on and prioritizing their resolution to ensure the highest possible recovery value of secured assets. Simultaneously, it will prioritize the payment of court fees in judgment enforcement cases as stipulated in Resolution No. 42/2017/QH14 and relevant legal regulations. Furthermore, it will coordinate with the Supreme People's Court to develop a data system related to cases currently under processing and allow credit institutions to access and extract this data.

The Ministry of Public Security is determined to take decisive action against individuals and organizations that violate the law and disrupt public order during the seizure and handling of collateral assets for debt recovery. This ensures that debt recovery proceeds smoothly and in accordance with the law. Furthermore, the Ministry directs police at all levels to effectively implement the "Procedure for Ensuring Security and Order During the Seizure of Collateral Assets under Resolution No. 42/2017/QH14" to support the maintenance of security and order for credit institutions and the Vietnam Asset Management Company (VAMC) during the seizure and handling of collateral assets for debt recovery.

The Ministry of Finance continues to implement the payment priority order as stipulated in Resolution No. 42/2017/QH14 regarding the fulfillment of tax obligations when handling collateral assets of non-performing loans and relevant legal provisions.

The People's Committees of provinces and centrally-administered cities will continue to issue guidance and directives to local authorities (wards and communes) to guide the implementation of Resolution No. 42/2017/QH14 and assign responsibilities to support credit institutions and organizations involved in the purchase, sale, and handling of bad debts, as well as the plan for seizing collateral assets. In addition, they will continue to promote the role of the Steering Committee for Civil Judgment Enforcement and direct relevant departments and agencies in the area to coordinate effectively in civil judgment enforcement, especially for complex cases affecting security and political situations, and cases requiring the involvement of local departments and agencies.

Ministries and governing bodies direct corporations, companies, and member units to fulfill their debt repayment/guarantee obligations for loans that they have guaranteed for their subsidiaries and member companies.

The State Bank of Vietnam continues to fulfill its role as the focal point for implementing Resolution No. 42/2017/QH14 in the banking sector. Simultaneously, it implements the solutions outlined in Appendix 01 attached to Government Report No. 174/BC-CP dated May 11, 2022, summarizing the implementation of Resolution No. 42/2017/QH14 on piloting the handling of non-performing loans of credit institutions and proposing improvements to the legal system regarding the handling of non-performing loans and collateral assets.

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