Policies unlock resources for national development

Chia sẻ
(VOVWORLD) - As Vietnam aims to become a high-income country, its National Assembly has adopted major policies since the beginning of this year. The government has accelerated the concretization of these policies to unlock resources for national development.

The Resolution of the 13th National Party Congress and many other resolutions of the Party Central Committee and the Party Politburo have emphasized the need to fine-tune and coordinate the legal system, mechanisms, and policies to create a favorable, equitable business environment and effectively manage and use resources, especially land and financial resources, to boost national development.

Effective use of land, financial resources

Policies and laws on land are of special importance to national stability and sustainable development.

In Vietnam, nearly 70% of people’s complaints concern land issues. Before the revised Land Law was approved at the 5th extraordinary meeting of the NA in January, the legislature had revised the law several times and delayed the approval schedule to enable cautious consideration. The revised Land Law institutionalizes the 13th Party Central Committee’s Resolution 18 on Land, complies with the Constitution, and aligns with the current legal system.

The law was revised in the spirit of making people the center. The revisions were made to protect the interests of the people. Those whose land is under reclamation will be compensated at a rate near the market price. The State will provide certificates of land use to eligible people. These changes will contribute to stable socio-economic development.

Like the revised Land Law, the revised Law on Credit Institutions helps resolve difficulties in settling bad debts and bond-related debts, reduce risks for the banking system, and ensure the transparency of the financial market. The revisions to the Law on Credit Institutions approved at the 5th extraordinary meeting of the NA are of great importance to the implementation of the socio-economic development plan in 2024, in the current tenure, and in the long-term.

Hoang Van Cuong, a member of the NA’s Finance and Budget Committee, said: "The revised Law on Credit Institutions is a very specialized law. We have high expectations about changes in the banking and credit system, especially the use of technology in controlling bad debt, cross-ownership, and cash flow."

Strengthening law enforcement

The amended Land Law is supposed to take effect on January 1, 2025. But to enforce the law as soon as possible, the Prime Minister on Tuesday asked the Ministry of Natural Resources and Environment and other ministries and sectors to submit to the Government decrees and circulars detailing the implementation of the Law. This will be the basis for the Government proposing to the National Assembly that the amended Land Law take effect on July 1 this year, instead of on January 1 next year.

Deputy Minister of Natural Resources and Environment Le Minh Ngan said: "Our Ministry was put in charge of drafting 6 decrees and 4 circulars. We are working to complete them and submit them for promulgation by May. The procedures for submitting the Decree on sea reclamation activities will be shortened to enable enforcement by early April."

The State Bank of Vietnam will issue 6 documents detailing enforcement of the revised Law on Credit Institutions. Ministries, sectors and localities are expected to finalize the review of relevant legal documents by April to ensure consistency in the enforcement of the law.

The 13th National Party Congress in 2021 embodied the desire to develop a prosperous, happy country in its goals for the 2021-2025 term and its vision for the coming decades. Through actions by the entire political system and the adoption of new land and financial policies, Vietnam hopes to unlock resources to grow and realize its aspirations for prosperity and happiness.