On December 3, the National Assembly discussed in the hall a summary report on the implementation of Government members of the resolutions of the 14th and 15th National Assembly on thematic supervision and questioning.
Delegate Nguyen Thi Viet Nga (Hai Phong National Assembly Delegation) commented on the results of implementing the resolutions on questioning and supervision in the banking sector.
This delegate agreed with the contents of the bank's report, but there were still some limitations. Typically, the "credit quota" mechanism has decreased but the roadmap for "all" is not yet clear.
The Russian delegate stated that Resolution 62 of the National Assembly has required research to limit and move towards eliminating the operating mechanism for allocating credit growth targets to each credit institution.
However, reality shows that the "credit quota" mechanism is still being maintained, with the assignment and adjustment of specific targets for each credit institution.
The report tends to describe the current approach, but does not clearly show the roadmap to completely eliminate this mechanism, and does not fully explain why after many years, the requirement to abolish quotas still does not have a time frame and specific solutions - delegate Nguyen Thi Viet Nga said.
Regarding the restructuring of weak credit institutions, the Vietnamese delegate stated that the resolutions of the National Assembly all emphasized: The goal by 2025 is to basically handle weak credit institutions, not to create new weak credit institutions, strictly control cross-ownership and backyard ownership; bring combined bad debt to about less than 3%.
Regarding this field, the delegate said that the report needs to answer a number of important issues.
Typically, how many weak credit institutions have not been completely handled yet? What is the ratio of gross bad debt and potential debt becoming bad debt compared to the target set by the National Assembly? How has the situation of cross-ownership and bank manipulation been substantially overcome?
This information has not been clearly shown in the report. We have seen many efforts in procedures and legal frameworks, but have not yet assessed the actual level of change in the credit institution system" - delegate Nguyen Thi Viet Nga said.
From the above analysis, this female delegate suggested that the State Bank should develop and report to the National Assembly a specific roadmap to gradually reduce and move towards completely eliminating the mechanism of allocating credit growth targets for administrative purposes.
Another problem also mentioned by this delegate is that the gold market is not really stable.
According to the Vietnamese delegate, in recent times, the State Bank has taken very drastic actions towards the gold market: Increasing gold supply, bidding, inspecting enterprises, advising on amending Decree 24.
At one point, the gap between domestic and world gold bar prices had narrowed significantly. However, reality also shows that there are periods when the gap in gold prices increases very strongly again, posing a potential risk of speculation and market manipulation.
According to this delegate, although the report has detailed the solutions, it has not fully analyzed the root causes to reduce monopoly, increase fair competition, and prevent "pricing". The most important thing is not to let gold price fluctuations cause macro instability, as the National Assembly has requested.
After amending Decree 24, delegate Nguyen Thi Viet Nga suggested that the State Bank soon issue detailed guidance documents, publicize the roadmap to reorganize the gold market, ensure healthy competition, reduce monopoly, and increase transparency.
At the same time, it is necessary to study and report to the National Assembly on the possibility of establishing a centralized gold trading floor with a strict management mechanism, approaching international practices.
