According to Resolution 36/ND-CP of the Government of Vietnam's session on special topics regarding legal development in April 2017, the Government of Vietnam agreed on the necessity and urgency of promptly promulgating a specialized legal framework to restructure system of financially weak credit institutions associated with settlement of bad debts, as well as on the promulgation of the Law on Planning.
On July 19, 2017, the Prime Minister of Vietnam issuedDecision No. 1058/QĐ-TTg on approving scheme for “Restructuring system of credit institutions associated with settlement of bad debts in the period of 2016-2020”.
This is a featured content of Resolution No. 42/2017/QH14 on pilot settlement of bad debts of credit institutions approved on June 21, 2017 by the 14th National Assembly of Vietnam at its 3rd session.
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