NA Chairman calls for PPP Project Development Fund

Minister demonstrates firm grasp of his portfolio and addresses MPs’ concerns

During the morning session on November 12, the National Assembly held a question-and-answer session lasting more than 120 minutes on issues under the responsibility of the Minister of Finance. Deputy Prime Minister Nguyen Van Thang and Minister of Construction Tran Hong Minh also participated in answering and clarifying related matters.

In his concluding remarks, National Assembly Chairman Tran Thanh Man noted that the questioning session had been conducted in a lively and frank atmosphere. A total of 25 deputies raised questions, while two others took part in debates. Another 27 deputies had registered to ask questions but had not yet had the opportunity to do so. He asked them to submit their questions to the National Assembly Standing Committee for forwarding to the Minister of Finance for written responses.

The questions closely addressed the designated areas of concern and were specific, clear and concise. The Minister of Finance had made serious preparations, demonstrated a firm grasp of his portfolio and provided largely comprehensive answers to the issues raised by National Assembly deputies.

Chairman Tran Thanh Man acknowledged the positive results achieved by the financial sector in recent years. Financial and budgetary management had been strengthened, while state budget revenue collection and public investment disbursement had shown improvements. Administrative procedure reforms and efforts to remove obstacles facing businesses had also delivered positive results.

Policies on tax exemptions, reductions and extensions had played an important role in helping businesses maintain and restore production and business activities.

However, the Chairman also pointed out several shortcomings in the financial sector. A substantial amount of public investment capital for 2026 had yet to be allocated in detail, while disbursement progress remained below expectations, particularly for ODA-funded projects, national target programmes and key projects. Outstanding advances yet to be recovered also remained considerable, and the implementation of PPP projects continued to face numerous obstacles.

Other challenges included issues relating to tax advances, collection and refunds; tax administration for e-commerce and digital platform-based businesses; and difficulties faced by enterprises in accessing capital and participating more deeply in value chains.

Introduce performance scoring and public disclosure of public investment disbursement

Chairman Tran Thanh Man called on the Government, the Minister of Finance and relevant ministries and agencies to take into account the opinions raised by National Assembly deputies and introduce effective measures to address the identified shortcomings, focusing on several key areas.

First, continue improving the legal framework for public investment and promptly remove obstacles arising during implementation.

Performance scoring should be introduced, with public disclosure of public investment disbursement results. Capital should be resolutely reallocated from projects experiencing slow disbursement or failing to meet implementation schedules to those with better disbursement capacity.

The management of advance payments and the recovery of advances must be strictly controlled. Disbursement should be linked to completed work volumes, construction quality and investment efficiency.

Second, improve the quality of preparation and implementation of projects financed by ODA and concessional loans. Coordination with donors should be strengthened to remove obstacles, harmonise procedures and accelerate disbursement.

The Ministry of Finance should work with central ministries, agencies and localities to develop plans for foreign capital allocation in 2027 and the 2026–2030 medium-term period, ensuring alignment with project implementation schedules, capital absorption capacity and debt repayment obligations.

The legal framework governing investment under the Public-Private Partnership (PPP) model should also be reviewed and improved to address obstacles in project preparation and implementation, as well as the mobilisation of long-term capital.

All outstanding issues and obstacles involving transitional build-transfer (BT) projects governed by the Government’s Resolution must be fully resolved before December 31, 2027.

The Chairman also called for studying the establishment of a PPP Project Development Fund, combining state budget resources with capital from international financial institutions.

Study and propose appropriate support measures for 2027

Third, continue improving policies and tax administration methods for e-commerce, digital platform-based businesses and foreign suppliers.

Inspection efforts should focus on entities and sectors at high risk of tax revenue losses. Guidance and support should also be provided to facilitate the implementation of new tax administration methods while reducing compliance costs.

At the same time, discipline and administrative order must be strengthened, alongside tighter internal controls to prevent and strictly deal with acts of harassment or the creation of unnecessary difficulties for individuals and businesses.

Existing policies on tax, fee and land rental exemptions, reductions and extensions should continue to be implemented while they remain in force.

The Chairman also called for studying and proposing appropriate support measures for 2027, taking into account the state budget's capacity to balance resources.

Hong Nhung