The 5th extraordinary session of the 15th National Assembly closes on January 18, 2024. Photo: quochoi.vn

Attending the closing ceremony were President Vo Van Thuong, National Assembly Chairman Vuong Dinh Hue, former leaders of the Party, State, Vietnam Fatherland Front, and nearly 480 deputies.

Deputies also approved Resolution on specific mechanisms and policies to implement national target programs and Resolution on the use of general reserves and central budget reserves of the medium-term public investment plan for the period 2021-2025 for ministries, central agencies, localities and Vietnam Electricity Group.

In his closing speech, National Assembly Chairman Vuong Dinh Hue underlined the Land Law adoption. “The National Assembly passed the amended Land Law, accomplishing one of the most important legislative tasks of the 15th term. The newly-adopted Land Law along with the revised Housing Law and the revised Real Estate Business Law will effect from January 1, 2025."

"It will meet the requirement of refining policies and laws on land management and use in line with developing a socialist-oriented market economy, so that land resources will be managed and used economically, sustainably, and with the highest efficiency,” he said. 

Chairman Hue said he believes that the Law on Credit Institutions will contribute to refining institutions in the banking sector, in accordance with socialist-oriented market principles. It will meet the requirement of restructuring the commercial banking system and credit institutions, ensure safety, soundness, stability and sustainability of the system, and enhance openness and transparency suited to international standards and practices.

The National Assembly Chairman emphasized that 2024 is a particularly important year in implementing the 13th National Party Congress Resolution and the 5-year socio-economic development plan until 2025 towards the 14th National Party Congress. 

“The National Assembly continues to promote proactive legislation, effective supervision, timely decision-making, and breakthrough development to join the Government and agencies in the political system in fulfilling socio-economic tasks for 2024 and beyond, developing Vietnam quickly and sustainably,” Hue said.