Law amendment to be drafted to address shortcomings of finance-related legislation

Prime Minister Phạm Minh Chính leads the meeting on Friday afternoon. — VNA/VNS Photo Dương Giang

HÀ NỘI — Prime Minister Phạm Minh Chính chaired a meeting between permanent government members and representatives of ministries and sectors on Friday to discuss the building of a draft law to amend some contents of finance- and budget-related laws.

Officials listened to the proposals on building the draft law amending some articles of the Law on State Budget, the Law on Management and Use of Public Assets, the Law on National Archives, the Law on Accounting, the Law on Independent Audit, the Law on Securities, and the Law on Tax Administration.

They looked into the necessity for building this law, the process and procedures, along with the policies to be stipulated in the draft.

PM Chính, who is also head of the steering committee for reviewing and resolving bottlenecks in the system of legal documents, underscored that institutional building and perfection form one of the three strategic breakthroughs targeted by the Party and State.

Agreeing on the need to build a law for amending and supplementing the seven finance-related laws in order to remove legal obstacles, he asked for overhauling the fundamental and urgent contents that serve macro-economic stabilisation, inflation control and growth promotion, along with ensuring major balances of the economy.

Aside from enhancing state management via policies, processes, standards, and examination and supervision tools, the new law must also facilitate the enhancement of administrative procedure reform, the eradication of the “ask-give” mechanism, the reduction of bureaucracy for people and enterprises, and the prevention of conditions for corruption and misconduct.

Besides, it must enable hurdles to production and business activities to be removed, the decentralisation of power and the allocation of resources boosted, and every resource mobilised for development, thereby helping to reach the goals set by the 13th National Party Congress, the government leader added.

PM Chính requested leaders of ministries and sectors continue to make thorough consideration and give opinions.

He assigned the Ministry of Finance to finalise the law-building proposal so that the government can submit it to the 15th National Assembly (NA) at its 8th session this October. It also needs to coordinate closely with NA agencies during the drafting process. — VNS