VietNamNet Bridge – The resolution on next year’s socio-economic plan was adopted with nearly 88 per cent of National Assembly deputies voting yesterday afternoon.

The NA also emphasised that the Government needed to closely keep watching and raising the quality of economic forecasts domestically and internationally, and take the initiative of outlining measures to deal with negative impacts on the domestic finance system. (Photo: VNN)

The Gross Domestic Product (GDP) for 2009 is predicted to increase by 6.5 per cent over this year. The Consumer Price Index (CPI) for the whole year is expected to be lower than 15 per cent. The total export turnover is forecast to rise by 13 per cent.

Next year, about 1.7 million new jobs will be generated. This will include employment for 90,000 workers sent abroad.

The targets also aim to reduce households under the poverty line to 12 per cent, and to ensure that 79 per cent of residents in rural areas would have access to running water.

The passed resolution also aims to increase the number of standard high schools in 55 cities and provinces. It also sets a goal for new enrolments in tertiary and college education to increase by 11.4 per cent, and for participation in vocational training to go up by 18 per cent.

With the domestic export market suffering from global financial turmoil, the total export value target has been adjusted to 13 per cent. The total social investment would be around VND715 trillion (US$43 billion), or 39.5 per cent of the GDP. Of the figure, capital flow from government bonds will be VND36 trillion ($2.1 billion).

To achieve these targets, the government, relevant ministries and provinces have to focus on easing difficulties for enterprises and giving them opportunities to have access to investment capital, especially for small- and- medium-sized ones.

The government will continue to improve the business climate and make it fair and transparent for all kind of businesses.

The NA also emphasised that the Government needed to closely keep watching and raising the quality of economic forecasts domestically and internationally, and take the initiative of outlining measures to deal with negative impacts on the domestic finance system. This will include a continuation of tightening monetary policy and curbing inflation in a flexible manner, as well as a review of related legal documents in the banking and finance industry to render them appropriate for changing conditions.

A comprehensive review on the business performance of State-owned enterprises should be conducted, especially in State economic groups. The legal framework needs to be further improved, and the performance of State-run corporations needs to be reorganised.

The government should pay great attention to raising planning quality and outlining the details for a comprehensive review on decentralised administration on investment management, as well as conducting inspections. Haphazard investment, waste and low-cost effective investment should be improved.

The Government should closely control imports, especially unnecessary imported products and minimise the trade deficit.

NA deputies have agreed to expand exports, particularly high value-added items. The Government will also monitor domestic markets with the aim of fighting smuggled and fake goods.

Before passing the resolution, the NA deputies pointed out weaknesses that needed to be improved, such as businesses having difficulty accessing bank loans for credit. The NA Standing Committee said business involved in export and production should get priority on access to loans.

The Government has vowed to review and strengthen capital management in State-run corporations. These corporations play a great important role in maintaining the economy. However, business performance of these corporations remained poor, particularly in efforts at curbing inflation.

Deputies were concerned that the Government needed to do more to check debts in capital construction and to better control capital investment, so as to avoid haphazard investment and raise the effective utilisation of capital flow.

The Government must conduct policies on investment and support industries, and take necessary steps to overcome shortcomings, so as to manage and work in a timely manner.

Early yesterday morning, the NA also discussed the proposed Judicial Records Law. Most deputies said that this law should be enacted, but a clear definition of judicial records and professional records managed by police was necessary in order to determine what agency should be authorised to manage judicial records of citizens.

NA deputies also continued discussing a pilot project on abolishing People’s Councils at district and ward levels, and to begin having direct election of People’s Committee chairmen at the commune level by local voters.

The majority of NA deputies said that a careful review should be made before work begins on the project.

(Source: Viet Nam News)