NA talks socio-economic development in 2021, next five years

ABO/NDO – The 15th National Assembly (NA) is spending the entire day on July 25, on discussing the implementation of the socio-economic development and State budget plans during the first six months, solutions for task performance in the year’s latter half, and the development plan for 2021-2025.

The plenary discussion, part of the 15th parliament’s first session, is broadcast live on radio and television.
Earlier, Deputy Prime Minister Pham Binh Minh reported on the socio-economic and State budget situations in the first half of 2021, noting that the economic growth of 5.64% during the period was relatively high compared to other countries, many localities hit by the COVID-19 pandemic still posted growth, the macro-economy stayed stable, inflation was kept low, while the major balances of the economy, the monetary market, credit, exchange rates, and interest rates were also stable.

National Assembly deputies attend the first session of the 15th legislature. (Photo: NDO).

For the remaining months of 2021, the Government is determined to keep macro-economic stability, guarantee the major balances, closely coordinate fiscal and monetary policies with other policies, facilitate production and business activities, and support economic recovery.

It will also continue working to control inflation, ensure reasonable credit growth, and eliminate unnecessary expenses, he said, stressing that the Government is resolved to realise the “twin targets”, but the current priority is containing COVID-19 so as to promote production and business and achieve the set targets at the highest possible level.

Meanwhile, the proposed socio-economic development plan for 2021-2025 features the overall goal of securing fast and sustainable economic growth on the basis of enhancing sustainable macro-economic stability, developing science - technology and innovation, and fully optimising the country’s potential and advantages.

It targets a five-year growth rate higher than the average figure of the 2016-2020 period, and that by 2025, Vietnam will become a developing country with modernity-oriented industry and escape from the lower-middle income status. It also looks to improve the economy’s productivity, quality, efficiency, and competitiveness, uniformly take solutions to effectively address the COVID-19 pandemic’s impact, and swiftly recovery and develop the economy.

During the discussion, Government members will also give more information about issues mentioned by legislators.

The NA is set to vote on a resolution on the parliament’s supervisory programme for 2022 in the afternoon.

(Source: NDO)