Print logo
Jump to main navigation Jump to content
  1. Southeast Asia
  2. News
  3. Workshop on "Development and Improvement of Regulatory Systems for Investment Activities of the Social Insurance Fund”

Workshop on "Development and Improvement of Regulatory Systems for Investment Activities of the Social Insurance Fund”

In the framework of the cooperation between Hanns Seidel Foundation and the Office of the National Assembly (ONA) the workshop was held in Ninh Binh City on 9-10 April 2024 in collaboration with the Board of the Delegate Affairs of the National Assembly of Vietnam. The event gathered 65 participants who are Standing members and Deputies of selected committees of the National Assembly and heads of Deputy delegation offices from 15 provinces of Northern and Central Vietnam.

In his opening speech at the workshop, Mr Nguyen Tuan Anh, Vice-Chairman of the Commission for Delegate Affairs, emphasised the importance of this workshop.  The Social Insurance Law was adopted on 20 November 2014 and entered into force on 1 January 2016, replacing the Social Insurance Law No. 71/2006/QH11. Having been identified shortcomings and limitations, in particular with regards to the Social Insurance Fund, it is necessary to amend and supplement certain provisions of the Social Insurance Law. The draft law was first reviewed for comments by the Standing Committee of the National Assembly in August 2023, and then commented on by the National Assembly in the October 2023 session. Therefore, this event was a good opportunity to provide Deputies and officials of 15 provincial Deputy delegation’s Offices with knowledge of the Vietnam Social Insurance Fund in order to support them in the amendment process of the provisions regulating the investment of the Social Insurance Fund.

HSF

Experienced experts in investment management Assoc. Prof. Dr. Vu Sy Cuong, Senior Lecturer of the Academy of Finance and Dr. Do Thien Anh Tuan, Lecturer of the Fulbright University Vietnam and the expert in social policy Dr. Dao Quang Vinh, former Director General of Institute of Labour and Social Sciences, Ministry of Labour, Invalids and Social Affairs were invited to give presentations at the workshop.

Interspersed with presentations on the Social Security Fund, investment principles and legislation in the development of investment risk management policies, the participants discussed the relevant provisions of the draft law which was submitted to the National Assembly for the second round of review and commendation.

HSF

As results, specific amendments to improve several provisions, for example the Articles 117 and 118 of the draft Social Insurance Law (amended) to comply with the principles of building and developing a secure, sustainable and efficient fund have been proposed.

Furthermore, participants have identified provisions of the draft law that conflicted with other regulations and discussed with speakers how to supplement them to ensure consistency with other relevant laws and regulations.

The conference was held with the interactive participation of key stakeholders of the legislative process, including Deputies, civil servants, and representatives of People's Councils at central and local levels.  By facilitating such kind of discussions, HSF contributes to the institutional strengthening of the National Assembly and its Deputies in the context of legislative processes.