NA debates draft Land Law, draft Law on Credit Institutions

Le Phuong
Chia sẻ

(VOVWORLD) -National Assembly deputies discussed the draft Land Law (amended) and draft Law on Credit Institutions (amended) at the first working day of the 5th extraordinary session on Monday.

NA debates draft Land Law, draft Law on Credit Institutions  - ảnh 1The 5th extraordinary session of the National Assembly, January 15, 2024. Photo:

18 points of the draft Land Law were subject to revision including rights and obligations of organizations and individuals using land; land use planning; land tax; land recovery; auction and bidding for land use rights; and land valuation. Deputies paid special attention on land policy for ethnic minorities.

Pham Trong Nghia, a member of Lang Son National Assembly delegation, said, “The draft law has been qualified for submission to the National Assembly for approval at this session. On land for ethnic minorities, this draft has made progress in regulating land for ethnic minorities with new and specific policies, aimed at creating legal basis, solving land difficulties, creating better livelihoods for people.

"We recommend that the National Assembly specify policies to ensure and support land for the ethnic people, for example issues concerning land use limits, minimum allocated area, and assigned land,” Nghia said. 

Debating draft Law on Credit Institutions (amended), deputies focused on transition, terms of implementation of organization, governance, operation of credit institutions, risk management, special controls, regulations for information transparency, prevention of cross-ownership, system security, and national financial and monetary security. Delegate

Nguyen Quang Huan of Binh Duong delegation looked at credit institutions’ support for start-up businesses. “In developed countries, start-up businesses can easily access loans. In Vietnam, businesses that want to borrow capital must have out-of-project collateral. Under normal conditions, businesses will only own assets after 3-5 years of accumulation. This leads to up to 90% of small and micro Vietnamese enterprises being unimproved," he said. 

Huan recommended that the drafting committee add content on supporting start-up businesses so that Vietnam can become a start-up country like elsewhere in the world.

Deputies’ recommendations will be submitted to the National Assembly Standing Committee’s meeting on Wednesday.