The National Assembly heard several important reports on the country’ssocio-economic situation in 2011 and the first quarter of this year.
The government’s supplementary report on socio-economic developmentpresented by Deputy Prime Minister Nguyen Xuan Phuc affirmed that in2011, the economic growth rate was maintained, inflation controlled, themacro economy positively progressed, social welfare was assured,national security and social security were strengthened, andinternational relations and integration were promoted.
However, the Deputy PM admitted that the macro economy stillcontained implicit risks and instability. The economy's competitivenessand growth rate were not improved and social labour productivityremained low.
Social services were improved slowly,especially in health care and education. In addition, the environment inareas around rivers, industrial zones and some big cities seriouslydeteriorated.
In the first quarter of this year,initial positive changes have been recorded. The increase of theConsumer Price Index (CPI) dropped markedly, interest rates decreased,exchange rates stabilised and the balance of trade improved.
Promoting production, trade and investment while continuing to curbinflation, and stabilise macro economic was highlighted by the Deputy PMas the Government's measures to step up the country's stabledevelopment.
The Government will restructure andrenovate current growth models by increasing the efficiency andcompetitive edge of the economy, he said.
Social security and welfare will be further improved while environment protection will be promoted, he added.
Synchronising the legal system, streamlining administrationprocedures, improving State management and promoting the fight againstcorruption and wastefulness are included in the Government's major taskin the coming time.
Enhancing national and socialsecurity, improving international relations, and promoting informationdissemination to create social consensus are also among the Government'sto-do list.
The deputies also listened to anappraisal of the Government's report on socio-economic development andthe State budget in 2011 into the first months of this year.
The appraisal was presented by Nguyen Van Giau, member of the NAStanding Committee and chairman of the NA Economic Committee.
The same day, the Minister of Planning and Investment, Bui Quang Vinh,as assigned by the Prime Minister, reported on the general economicrestructuring scheme to the NA.
The scheme alignsrenovations of the growth model with improving quality, efficiency andcompetitiveness of the economy, Vinh said.
Mostlawmakers agreed that it is essential to restructure the economy as ithas recently reflected weaknesses, including slowing economic growth,high inflation, high overseas and public debts, and bad debt oncommercial loans.
"The plan's target is to improvethe efficiency of financial resources in the economy, raiseproductivity, and sharpen the competitive edge of the economy," Vinhsaid.
The restructuring process will be split intotwo phases: short-term (five years) and long-term. In the five-yearperiod, Vietnam will focus on restructuring public investment,commercial banks and financial institutes, and State-owned groups andcorporations.
In the longterm, the country willrestructure manufacturing and services, bolster enterprise renovation,and gradually increase competitiveness of products, enterprises andfinally the economy.
The restructuring aims to raise the ratio of manufacturing and reduce the proportion of agriculture.
Under the plan, some industries and products will be given priority to make full use of competitive advantages.
The scheme maps out 12 basic solutions to realise the final targets,especially the completion of a market-oriented economy, renovations ininvestment mechanisms to attract foreign and local enterprises topriority sectors, improvements to human resource quality, and thedevelopment of sciences and technologies to bolster competitiveness ofthe economy.
Nguyen Van Giau, chairman of the NAEconomic Committee said that besides the above-mentioned priorityservices, the Government should consider bolstering the development ofe-commerce, soft services, construction and financial services.
Most members of the committee agreed to add social and environmentalsolutions to the plan to ensure the sustainable development of theeconomy.
To restructure State-owned enterprises(SOEs), the economic committee recommended building up a transparentmanagement regime to ensure that they use the financial resourceseffectively, publish information and financial reports periodically, andcompete fairly.
For private companies, therestructuring should focus on raising corporate governance capacity,increase transparency of business activities and financial reports,raise capital on the stock market and reduce the great dependence onpublic investment and commercial loans, Giau said.-VNA
The government’s supplementary report on socio-economic developmentpresented by Deputy Prime Minister Nguyen Xuan Phuc affirmed that in2011, the economic growth rate was maintained, inflation controlled, themacro economy positively progressed, social welfare was assured,national security and social security were strengthened, andinternational relations and integration were promoted.
However, the Deputy PM admitted that the macro economy stillcontained implicit risks and instability. The economy's competitivenessand growth rate were not improved and social labour productivityremained low.
Social services were improved slowly,especially in health care and education. In addition, the environment inareas around rivers, industrial zones and some big cities seriouslydeteriorated.
In the first quarter of this year,initial positive changes have been recorded. The increase of theConsumer Price Index (CPI) dropped markedly, interest rates decreased,exchange rates stabilised and the balance of trade improved.
Promoting production, trade and investment while continuing to curbinflation, and stabilise macro economic was highlighted by the Deputy PMas the Government's measures to step up the country's stabledevelopment.
The Government will restructure andrenovate current growth models by increasing the efficiency andcompetitive edge of the economy, he said.
Social security and welfare will be further improved while environment protection will be promoted, he added.
Synchronising the legal system, streamlining administrationprocedures, improving State management and promoting the fight againstcorruption and wastefulness are included in the Government's major taskin the coming time.
Enhancing national and socialsecurity, improving international relations, and promoting informationdissemination to create social consensus are also among the Government'sto-do list.
The deputies also listened to anappraisal of the Government's report on socio-economic development andthe State budget in 2011 into the first months of this year.
The appraisal was presented by Nguyen Van Giau, member of the NAStanding Committee and chairman of the NA Economic Committee.
The same day, the Minister of Planning and Investment, Bui Quang Vinh,as assigned by the Prime Minister, reported on the general economicrestructuring scheme to the NA.
The scheme alignsrenovations of the growth model with improving quality, efficiency andcompetitiveness of the economy, Vinh said.
Mostlawmakers agreed that it is essential to restructure the economy as ithas recently reflected weaknesses, including slowing economic growth,high inflation, high overseas and public debts, and bad debt oncommercial loans.
"The plan's target is to improvethe efficiency of financial resources in the economy, raiseproductivity, and sharpen the competitive edge of the economy," Vinhsaid.
The restructuring process will be split intotwo phases: short-term (five years) and long-term. In the five-yearperiod, Vietnam will focus on restructuring public investment,commercial banks and financial institutes, and State-owned groups andcorporations.
In the longterm, the country willrestructure manufacturing and services, bolster enterprise renovation,and gradually increase competitiveness of products, enterprises andfinally the economy.
The restructuring aims to raise the ratio of manufacturing and reduce the proportion of agriculture.
Under the plan, some industries and products will be given priority to make full use of competitive advantages.
The scheme maps out 12 basic solutions to realise the final targets,especially the completion of a market-oriented economy, renovations ininvestment mechanisms to attract foreign and local enterprises topriority sectors, improvements to human resource quality, and thedevelopment of sciences and technologies to bolster competitiveness ofthe economy.
Nguyen Van Giau, chairman of the NAEconomic Committee said that besides the above-mentioned priorityservices, the Government should consider bolstering the development ofe-commerce, soft services, construction and financial services.
Most members of the committee agreed to add social and environmentalsolutions to the plan to ensure the sustainable development of theeconomy.
To restructure State-owned enterprises(SOEs), the economic committee recommended building up a transparentmanagement regime to ensure that they use the financial resourceseffectively, publish information and financial reports periodically, andcompete fairly.
For private companies, therestructuring should focus on raising corporate governance capacity,increase transparency of business activities and financial reports,raise capital on the stock market and reduce the great dependence onpublic investment and commercial loans, Giau said.-VNA
