VietNamNet Bridge – NA deputies will focus their discussions on major issues related to socio-economic development, adopt eight draft laws and one resolution and give opinions on six other draft laws.

NA Chairman Nguyen Phu Trong.

In his opening speech, NA Chairman Nguyen Phu Trong said the unpredicted and complicated fluctuations of the world economy in 2008 have adversely affected the Vietnamese economy resulting in slower economic growth as compared to previous years, soaring inflation and fast changes in the money and financial markets.

Significant socio-economic achievements

On behalf of the NA, NA Chairman Trong praised the entire population for overcoming all difficulties and challenges to effectively fulfill tasks and plans for socio economic development in 2008, a pivotal year of the five-year development plan from 2006-2010 and the following years.

Over the past nine months, the country’s GDP growth reached 6.52 percent. Solutions to curb inflation, stabilize the macro economy and ensure social welfare and sustainable development proved to be effective as the consumer price index was under control, and the national economy and social welfare remained balanced. Meanwhile, more attention was given to other fields such as culture, education and training, healthcare and environment protection.

Two years after joining the World Trade Organisation (WTO), Vietnam has gained more experience in managing and controlling its economy while the country’s non-permanent membership in the United Nations Security Council has raised its role and position on the international arena.

However, Mr Trong pointed out limitations and weaknesses in the national economy resulting in high inflation rates, an increased trade deficit, reduced economic growth, poor quality and efficiency in production and business activities and more difficulties for low-income earners and the poor living in remote, mountainous and natural disaster-hit areas.

He also extended his deep condolences to areas recently hit by natural disasters and called on people across the country to continue providing material and spiritual support to help them overcome storm’s consequences and stabilize their lives soon.

NA to approve eight draft laws and one resolution

The session will consider socio-economic development issues, state budget estimates, plans to allocate and supplement central and local budgets for 2009, reports from NA standing committees and the Ethnic council, discuss and approve eight draft laws and one resolution, give opinions on six draft laws, and supervise the implementation of policies and laws on investment in capital construction and the use of state capital in ministries, agencies and localities from 2005 to 2007 as well as some emerging issues in the first months of this year.

Continue implementing monetary policies effectively

After the opening ceremony, Prime Minister Nguyen Tan Dung presented a report on socio-economic development in 2008. The PM stressed the major tasks for socio-economic development in 2009 including the effective implementation of monetary policies, enhancement of the safety level of the banking and financial system, striving to bring the inflation rate to below 15 percent in 2009 and even down to one digit by 2010.

The PM also emphasized the importance of implementing current policies effectively and issuing new policies to reduce poverty and ensure social security and sustainable development in such fields as culture, society and environment.

He also called on fully tapping the country’s potential, strengthening cooperation and effective international integration, striving to maintain an economic growth rate of 7 percent, creating favourable conditions for the private sector to develop rapidly and improving the efficiency of state owned-enterprises by attracting and improving the quality of foreign investment.

In particularly, he also stressed the importance of sustainability and the quality of growth by improving the efficiency investment, and the application of advanced technology in production and business.

In addition, it is also important to further focus on agricultural and rural development and boost economic restructuring in the agricultural sector and improve the spiritual and material life for farmers under the resolution adopted at the seventh congress of the 10^th Party Central Committee.

(Source: VOV)