NA considers separation of SBV from government

NA deputy proposed making the State Bank of Vietnam (SBV) and the General Statistics Office (GSO) become independent bodies during the discussion to revise the 1992 constitution, held on June 4.

SBV headquartersSBV headquarters

NA deputy Nguyen Van Tien from Tien Giang Province said the revised constitution of 2001 introduced three separate branches of government: the executive, the legislative and the judicial. However, these branches sill do not have proper oversight.

According to Tien, letting the SBV and GSO become independent agencies would be a mean to keep these three powers in check.

NA deputies also gave an implied vote of confidence in the work of the State Audit of Vietnam by showing no objection to their work as an agency independent from the government.

“I think we need to separate agencies that often deal with the questions of NA deputies and deal with issues pertaining to doubts from the government. For example, during many sessions, the minister of Planning and Investment has been directed questions as to how the GDP is calculated, and henceforth it has been up to him to explain for the GSO. It’s time that the GSO is separated from the government,” Tien said.

Meanwhile, NA deputy, Bui Duc Thu, from Lai Chau Province requested an expansion of the powers of the State Audit.

He said, “Our financial system consists of three parts. These are public finance, corporate finance and those having to do with state-owned firms, and personal finance. Currently, the State Audit Office only have control over public finance, which creates a large loophole. There is a need to more closely monitor public assets used for investment.”