Increasing domestic production essential: NA leader hinh anh 1An overview of the sitting (Photo: VNA)
Promoting production at home is crucial to reducing the trade deficit, National Assembly Chairman Nguyen Sinh Hung said at the 42nd ongoing session of the 13th National Assembly’s Standing Committee in Hanoi on October 12.

He highlighted the significance of maintaining the macro-economic stability and increasing Vietnam’s competitive edge in the global market, especially given the fresh conclusion of the Trans-Pacific Partnership (TPP) agreement’s negotiations.

During the sitting, deputies discussed the Government’s socio-economic reports for 2015 and plans for the next year, as well as reviewed the implementation of the State budget in 2015 and the State budget estimate and central budget allocation in 2016.

They also touched upon the diversification of types of Government bonds and the project on issuing Government bonds in foreign markets by 2020.

Offering feedback on the draft Law on Property Auction, lawmakers agreed on the need to issue a law to address connivance and create transparency in auctions.

Designed with eight chapters and 77 articles, the law is also expected to improve the legal framework in adjusting property auction activities.

The issuance of the law is intended to concretise the regulations of the 2013 Constitution on improving the market economy and developing socio-economic affairs.

On October 13, the NA Standing Committee will give opinions to the draft revised Law on Signing, Joining and Implementing International Treaties and review preparations for the 10th sitting of the 13th National Assembly.-VNA