[Video] Amending the law on public debt management, aiming to increase decentralization and reduce procedures

Continuing the 10th Session, on the morning of November 3, the National Assembly listened to the Presentation and Report on the review of the draft Law amending and supplementing a number of articles of the Law on Public Debt Management.

Authorized by the Prime Minister, Minister of Finance Nguyen Van Thang presented the Proposal, stating that the amendment aims to institutionalize the Party's policy, promote decentralization and delegation of power associated with cutting and simplifying administrative procedures, shortening the approval process, and increasing initiative in managing and operating public debt.

The draft law removes the regulation of consulting the Ministry of Finance on issuing local government bonds, replacing it with a mechanism of approval by the Provincial People's Council, aiming to increase autonomy, reduce procedures, and shorten the time to mobilize capital.

Presenting the Audit Report, Chairman of the Economic and Financial Committee Phan Van Mai basically agreed with the Government's proposals, and at the same time suggested ensuring decentralization regulations go hand in hand with transparency, public debt safety and effective use of loans.

The Government recommends that the National Assembly consider and pass the draft Law in a shortened order to promptly remove difficulties and perfect the public debt management institution.

LE CHI - NGUYEN THUY

Source: https://nhandan.vn/video-sua-doi-luat-quan-ly-no-cong-huong-toi-tang-cuong-phan-cap-cat-giam-thu-tuc-post920205.html