VietNamNet Bridge – The seventh session of the 13th National Assembly (NA) opened in the capital city yesterday (May 20) in the context of complicated regional and global developments, Chairman Nguyen Sinh Hung said in his opening remark.

Ha Noi's Nhat Tan Bridge, nearly 9km, connecting Tay Ho District and Dong Anh District. The bridge is set to open in October. Viet Nam has seen slow economic recovery, the National Assembly heard yesterday, May 20.

The domestic economy, despite positive changes such as a higher year-on-year growth in the first months of the year, reduced inflation, falling interest rates, stable foreign exchange rates and increased exports, still had many shortcomings. Among these were an unstable macro-economy, slow economic restructuring and numerous difficulties in production and business activities.

This situation required synchronised measures to continue the stabilising of the macro-economy, better growth rate and social security, he said.

Regarding the complex and unpredictable developments in the East Sea, the NA Chairman said that China's installation of its drilling rig in Viet Nam's continental shelf and exclusive economic zone accompanied by large forces, including military ships and aircraft, was an extremely serious violation of Viet Nam's territorial sovereignty.

The act ran counter to the 1982 UN Convention on the Law of the Sea (UNCLOS), the Declaration of the Conduct of Parties in the East Sea (DOC) and the agreements reached by the two countries' high-ranking leaders, he said.

The Vietnamese people resolutely oppose China's illegal action, while the international community had shown special interest and solidarity with Viet Nam, he added.

Hung said deputies would give opinion on this issue to take every possible measure to firmly protect national sovereignty while maintaining a peaceful and stable environment for national development and preserving the traditional friendship between the people of Viet Nam and China.

Slow recovery

Viet Nam's economy is recovering slowly, but the country still faces many challenges, Deputy Prime Minister Nguyen Xuan Phuc said at the National Assembly session.

The nation met 10 of the 15 targets set by lawmakers, while three goals (GDP, job generation and the number of employees attending vocational training) were almost reached.

However, the country failed to meet targets for reducing the State budget deficiency and the number of poor households.

Phuc acknowledged that limited resources were a major impediment when it came to investing in development, national defence and security and improving people's lives.

Moreover, the implementation of free trade agreements and international commitments presented both opportunities and obstacles, and the country faced many challenges in political security and the defence of national sovereignty and territorial integrity.

Regarding the country's socio-economic targets for the year 2014, Phuc reiterated the government's resolve to stabilise the macro economy, improve the business environment and restructure the national economy while changing the growth model.

Other major tasks set by the government for this year are developing culture and society, improving management of natural resources, protecting the environment, responding to climate change and continuing administrative reforms and the fight against corruption and waste.

"In 2014, Viet Nam will further beef up national defence and security while ensuring law and order. Viet Nam will try to make external diplomatic activities more efficient while integrating deeper internationally," Phuc said.

Nguyen Van Giau, chairman of the National Assembly Economics Committee, said he basically agreed with the government's report.

"We have achieved positive results in the past four months. GDP is higher than the same period in the last two years, inflation is lower, revenue collection is higher than projected, the interest rate is stabilised and likely to reduce, export turnover is higher, the foreign currency exchange rate is stable and the currency reserve is increasing rapidly," Giau said.

However, Giau asked the government to help stabilise the macro economy with a rational growth rate, ensure social security and benefits and improve people's living conditions.

He also asked the government to tighten management of public investment and strictly punish those who made bad decisions on poorly performing projects.

Regarding China's illegal placement of the Haiyang Shiyou - 981 drilling rig in Viet Nam's exclusive economic zone and continental shelf, Giau asked the National Assembly, the Government and agencies nationwide to take measures to counter negative impacts on economic growth, including import-export activities, foreign investment attraction and job generation.

The deputies listened to a report presented by Nguyen Thien Nhan, President of the Viet Nam Fatherland Front, gathering voters' comments on the 6th meeting of the National Assembly last year, particularly concerning the Constitution and revised Land Law.

According to the report, while voters highly appreciated the results of the meeting, they remained anxious about the country's unstable economic development, as well as the poor quality and weak competitiveness of Vietnamese products.

The people called on the NA and government to help enterprises restore their production and to handle bad debts at banks as well as the government's public debts.

Source: VNS