The 34th session of the National Assembly Standing Committee wraps up tomorrow, Sept 19, after six days.

Yesterday morning, the debate centred on the role of procuracy in settling civil cases, as defined by the draft revision of the Civil Procedure Code, which came into effect five years ago.

Sixty-two articles will be amended or abolished under the draft law.

A report by NA Justice Committee Chairwoman Le Thi Thu Ba stated that the role of the procuracy in settling civil cases was vitally important but controversial.

According to the draft law, the procuracy has the right to intervene in civil trials or court sessions when it comes to observance of the law.

Truong Hoa Binh, chief judge of the Supreme People’s Court, said procurators’ legal advise helped ensure that court decisions were in line with the law.

However, members of the Justice Committee said the procuracy should only offer its advice at the appeals’ stage – a view supported by the majority of delegates, who said court decisions could otherwise be unduly influenced.

Human trafficking

Deputies also discussed human trafficking. They said the draft law was inadequate and unworkable.

"I think many of the regulations are not suitable to the country’s socio-economic conditions," said Nguyen Van Thuan, chairman of the NA’s Law Committee.

"Regulations dealing with traffickers are not specific enough, which causes difficulties for agencies when trying to execute the law," he said.

Thuan also said the Government should allocate sufficient funds to combat human trafficking.

Truong Thi Mai, chairwoman of the NA’s Social Affairs Committee, said the law was inadequate when it came to middlemen or "brokers".

Independent auditing

On Thursday afternoon, legislators discussed the draft law on Independent Auditing, which comprises seven chapters and 69 articles.

The draft law sets out the principles, conditions, the scope of independent auditing, as well as the rights and responsibilities of auditors.

Independent auditing had helped enterprises improve their transparency and limit ethical risk, legislators said.

Securities market

Earlier, legislators debated the Security Law, which came into effect three years ago.

Finance Minister Vu Van Ninh said liability had gone up over time.

By the end of 2009, market capitalisation reached 37.6 per cent of the GDP, three times higher than in 2008.

Ninh said the securities market, the Government and enterprises had poured capital into production and trade that had helped spur economic growth, modernisation and industrialisation.

Nearly VND200 trillion (US$10.2 billion) has been mobilised and foreign direct investment reached $9 billion last year, double the figure of 2007.

However, the minister said there were still problems with the fledging securities market, and that the law should be amended to boost the market’s rapid growth.

A Government report said amendments to the law should enhance State management of the market.

The law should prohibit insider trading and impose stiffer penalties for those who broke the law to bolster public confidence in the market, the Government said. Any amendments to the law should aim to encourage stock market growth by making transactions more transparent, the Government said. Legislators wholeheartedly agreed with the revision.

At the end of the meeting, Nguyen Duc Kien, NA vice chairman, said the stock market was vulnerable to public opinions, and that any change to the law should bear that in mind.

VietNamNet/Viet Nam News