The National Assembly Standing Committee examined several Government reports on the implementation of socio-economic tasks in 2014 and draft plans for 2015 during the last day of the committee’s 32nd working session on October 9.

The reports and plans will be the key items on the agenda of the NA’s 8th session slated to convene later this month.

According to the Government’s report, of the 14 key targets set by the NA for 2014, 13 are expected to be met or surpassed, except for the target in raising the rate of trained labourers in the workforce. The economy continued its recovery trend, with a growth rate of 5.62 percent for the first nine months of this year compared to 5.14 percent of the same period last year, the report said, adding that the growth rate for the year can be higher than 5.8 percent.

The report also affirmed that inflation has been contained, projected to be between 4.5-4.6 percent for the entire year, while the goal set by the NA was 7 percent. Social security and welfare policies have been well implemented, producing positive results.

Building on the outcomes of 2014, the Government said in 2015 it intends to continue with the master plan on restructuring the national economic with focus on public investment, commercial banks and State-owned enterprises alongside renovating the growth model. The Government will strive for a GDP growth of 6.2 percent.

Regarding national defence and security, the Government pledged to resolutely safeguard national sovereignty and interests in the East Sea and strive to deal with the complicated situation by peaceful means on the basis of international law, particularly the 1982 United Nations Convention on the Law of the Sea and the Declaration on the Conduct of Parties on the East Sea.

The NA Standing Committee members expressed their approval of the Government report and at the same time underlined major problems that should be dealt with in the time ahead, including difficulties hindering production and business activities, weak demand of the economy as a whole, low credit growth, delayed and ineffective settlement of bad debt and slow progress in restructuring SOEs and commercial banks. They also called for more attention to improving employment and living conditions of the poor and ethnic minority people.

Chairman of the Ethnic Council Ksor Phuoc said the report should make deeper analysis of the strong points and weaknesses in management, particularly that of local governments.

Some deputies proposed the Government should clarify the impacts of China’s illegal positioning of its oil rig inside Vietnam’s continental shelf and exclusive economic zone on domestic socio-economic development as well as on Vietnam-China ties, with a view of enhancing the country’s capacity of forecasting and dealing with similar incidents.

NA Chairman Nguyen Sinh Hung asked for more detailed analysis and specific measures to address such problems as slow economic restructuring, low productivity, public debt and potential threats to national defence and security.

The Government will revise its reports based on the NA Standing Committee’s recommendations in order to submit them to the NA at the 8th session.

NA reports: inflation lower than target, economy still recovering

The National Assembly's Standing Committee was told yesterday that inflation has been contained and was likely to be about 4.5 per cent for the whole year, well below the targeted 7 per cent.

Another report said the economy continued to recover, growing 5.6 per cent in the first nine months of the year, compared with 5.1 per cent for the same period last year. The committee heard that the growth rate for the year could reach more than 5.8 per cent.

All this was revealed as the committee discussed ways of improving ongoing projects for 2015, the last day of the committee's 32nd working session.

The talks were part of the examination of Government reports on socio-economic goals for 2014.

The reports will be first on the agenda for the assembly's eighth session, which convenes later this month.

According to one report, of the 14 socio-economic goals the assembly slated for 2014, the Government is expected to be able to meet or pass 13 of them.

However, one target will not be met - the training of more skilled workers. The committee was told that social-security and welfare policies had produced positive results.

Taking into account 2014's successes and failures, the Government said that in 2015 it intended to continue restructuring the country's economy, focusing on public investment, commercial banks and state-owned enterprises. It will strive for 6.2 per cent GDP growth.

The Government pledged to safeguard national sovereignty in the East Sea and deal with the complex situation peacefully, using international law.

The assembly's Standing Committee members expressed their approval of the reports. They also underlined major problems to be solved, including low credit growth, delayed and ineffective settlement of debts, and slow progress in restructuring banks. They also called for more attention to jobs, and low-income and ethnic minority people.

Ksor Phuoc, chairman of the Ethnic Council, said the reports should also analyse the strengths and weaknesses in local government management.

Some deputies suggested the Government examine the impacts of China's illegal oil rig on socio-economic development, as well as on Viet Nam-China relations. They said they hoped this could enhance the country's capacity for dealing with similar incidents in the future.

National Assembly Chairman Nguyen Sinh Hung asked the Government to include more detailed measures for addressing slow economic restructuring, low productivity, public debt and potential threats to national security.

The Government will revise its reports using the Standing Committee's recommendations, and submit it to the assembly during the eighth session.

VNA/VNS