Finance Minister fields lawmakers’ questions at NA meeting

Minister of Finance Ho Duc Phoc on November 6 morning reported to the National Assembly that the country's credit rating benefited from a positive outlook from international communities, resulting in an upgrade to “prosperous and stable” or BB+ levels. The rating helps build investor confidence in Vietnam.

  • Ministers explain socio-economic issues at NA meeting
  • Ministry of Public Security reviews law projects before submitting to National Assembly
Finance Minister fields lawmakers’ questions at NA meeting -0
Minister of Finance Ho Duc Phoc (Photo: VNA)

Minister of Finance Ho Duc Phoc on November 6 morning reported to the National Assembly that the country's credit rating benefited from a positive outlook from international communities, resulting in an upgrade to “prosperous and stable” or BB levels. The rating helps build investor confidence in Vietnam.

Answering questions from National Assembly (NA) deputies, the minister said in his working session with S&P Global Ratings and Moody’s Investors Service during his recent working trip to the US, the rating companies hailed the Vietnamese financial market, and encouraged businesses to invest in Vietnam for dynamic growth.

They put many questions on Vietnam’s settlement of bad debts, disbursement of public funds, and the recovery of the real estate market, and expressed trust in Vietnam's solutions, he added.

The minister said the Finance Ministry is working with the State Securities Commission and the Ministry of Planning and Investment to implement measures to improve the rating of the country's stock market. 

In reply to deputies' questions about the implementation of the NA's Resolution No.74/2022/QH15 on stepping up implementation of laws and policies on thrift practice and anti-wastefulness, Phuoc said the Finance Ministry will enhance inspections and examination, while building a database on public assets to keep a close watch on the assets for more efficient management, he stressed.

Regarding questions on challenges in public asset management, including a lack of uniform legal documents on the issue, Phoc said the Government issued 20 decrees, the Prime Minister issued three decisions and the Ministry of Finance issued 15 circulars to guide the implementation of the Law on Management and Use of Public Assets which was adopted in 2017.

However, he admitted that the law has shown some shortcomings, adding that in the time to come, the Ministry of Finance will propose the NA and the NA’s Standing Committee to amend the law.

VNA

Other News

Vietnam needs more modern, creative working class: Top leader

Vietnam needs more modern, creative working class: Top leader

Party General Secretary and State President To Lam urged the Vietnam Trade Union to reform more rapidly, deeply and substantively. It must work together with the State, enterprises and training facilities to improve workers’ professional qualifications, digital skills and adaptability.

Grand opening of 14th Vietnam Trade Union Congress for 2026–2031 term

Grand opening of 14th Vietnam Trade Union Congress for 2026–2031 term

VGCL President Nguyen Anh Tuan said achievements obtained over the past ternure reflect the close guidance of the Party, effective coordination among State agencies, local authorities, the Vietnam Fatherland Front and socio-political organisations, support from employers and, above all, the dedication and innovation demonstrated by trade union officials, members and workers across the country.

Prime Minister chairs Government's regular meeting for May

Prime Minister chairs Government's regular meeting for May

Prime Minister Le Minh Hung emphasised the need to further improve institutions and policy frameworks, develop digital infrastructure and data resources, and create the necessary conditions for science, technology, innovation and digital transformation to become new drivers of economic growth.

Official hails progress in Vietnam – RoK defence cooperation

Official hails progress in Vietnam – RoK defence cooperation

Deputy Prime Minister and Minister of National Defence General Phan Van Giang said that alongside the robust growth of relations between the two countries, defence cooperation has continued to develop extensively and intensively, becoming increasingly practical and effective.

Vietnam's First Lady visits disadvantaged children in Philippines

Vietnam's First Lady visits disadvantaged children in Philippines

Ngo Phuong Ly, spouse of Party General Secretary and State President To Lam, expressed her emotion at seeing the children’s optimism despite difficult circumstances, noting that both Vietnam and the Philippines place children at the centre of their development policies, from education, health care to child protection.

Top leader of Vietnam pays state visit to Philippines

Top leader of Vietnam pays state visit to Philippines

Party General Secretary and State President To Lam and his spouse are paying state visit to the Philippines from May 31 to June 1 at the invitation of President Ferdinand Romualdez Marcos Jr. and his spouse.