National Assembly discusses draft law on property auction

(VOVworld) – National Assembly deputies on Monday listened to reports on amendments to the draft law on property auction and discussed the remaining controversies to the bill.

National Assembly discusses draft law on property auction - ảnh 1
Vice Chairman of the National Assembly Phung Quoc Hien. (Photo: plo.vn)

According to Vu Hong Thanh, Head of the NA Economic Committee, many deputies recommended the bill exclude regulations governing bad debts and collateral assets of the Vietnam Asset Management Company (VAMC).

Pursuant to the current law, the VAMC can restructure bad debts, support debtors, and negotiate with lenders to turn the purchased loans into capital contributed to restructure firms.

NA deputies also debated a number of controversial points relating to properties which must be sold via auction and training and granting of professional certificates for auctioneers and auctioning organizations.

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