Debt-collecting businesses are to be banned in Vietnam as part of local government action to protect customers’ rights, with the upsurge of predatory lending services triggering heated debate and eroding public trust.

In spite of a dent in state budget revenue and a rise in spending this year causing a big fiscal deficit, the government will be able to retain the country’s public debt situation, ensuring national financial security.

National Assembly deputies have called on the State Audit of Vietnam (SAV) to inspect three debt-laden banks that were earlier taken over by the State Bank of Vietnam, according to NA Secretary Nguyen Hanh Phuc.

Vietnam always treasures peace and stability, said Deputy Prime Minister and Foreign Minister Pham Binh Minh while addressing the 25th International Conference on the Future of Asia in Tokyo, Japan, on Thursday.