To continue to propagate and disseminate the pilot disposal of bad debts of credit institutions in Vietnam

To continue to propagate and disseminate the pilot disposal of bad debts of credit institutions in Vietnam

 to ensure the effective implementation of Resolution No. 42/2017/QH14 during the extended period of the Resolution, the Government requests Ministers, Heads of ministerial-level agencies, Heads of Governmental agencies, Presidents of People's Committees of provinces and centrally-affiliated cities (hereinafter referred to as provinces) to direct and perform the following tasks:

(i) The State Bank of Vietnam shall require credit institutions, Vietnam Asset Management Company (VAMC), and relevant entities of the State Bank of Vietnam to be fully aware of the extended period of Resolution No. 42/2017/QH14.

(ii) Ministries, ministerial-level agencies, People's Committees of provinces shall require agencies, units, officials and public employees who perform tasks related to disposal of bad debts and collateral of bad debts of credit institutions and VAMC to be fully aware of the extended period of Resolution No. 42/2017/QH14 .

(iii) The Ministry of Information and Communications shall publicize and disseminate the contents of Resolution No. 42/2017/QH14 and the extension of its period.

- Direct news agencies, newspapers from central to local levels, grassroots information systems, and Departments of Information and Communications to strengthen their propagation and dissemination to raise awareness of bad debt disposal among all people, so that customers and related parties in debt disposal can consciously and proactively implement it.

- Direct and guide media agencies to regularly hold seminars so that credit institutions can exchange information and experience in dealing with bad debts and disposal of collateral, in order to improve their risk management, collateral disposal, and debt recovery capabilities.

The propagation and dissemination of the contents mentioned in Points a, b and c above must be completed by September 30, 2023.

More details can be found in Resolution 148/NQ-CP dated September 20, 2023.

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