Illegal Transportation, Trafficking to Face Strict Forfeiture

The National Assembly demanded preventing and strictly punishing production, transportation and trading of banned goods, smuggled goods, commercially defrauded goods, counterfeited goods, pirated goods and substandard goods. In 2021, it will promulgate the Export-Import Strategy for the 2021-2030 period.

With 95.44% of ayes, the National Assembly of Vietnam (NA) passed a resolution on continued enforcement of related NA resolutions issued in the 13th tenure and the upcoming 14th tenure.

With this resolution, the NA also stated clear requirements for active and flexible monetary policy management for macroeconomic stability, inflation control, business and manufacturing support, economic growth and forex reserve expansion. The lawmakers also required quicker restructuring of credit institutions and reshuffle of weak credit institutions.

Besides, the National Assembly requested active application of measures to handle and control bad debts; rationalize credit growth and improve credit quality; tightly control credit in potentially risky areas; and supply credit for people and businesses damaged by natural disasters and pandemics.

The next request from the lawmaking body is effectively carrying out solutions to control electricity prices, ensure supply-demand balance and stabilize the market. In 2021, the Import-Export Strategy for the 2021 - 2030 period will be promulgated.

The NA also urged the issuance of the National Trade Development Strategy for the 2021 - 2030 period, with a vision to 2045; prevent and strictly handle production, transportation and trading of banned goods, smuggled goods, commercially defrauded goods, counterfeited goods, pirated goods and substandard goods.

 By Huong Hau, Vietnam Business Forum