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Lawmakers discuss economy

Update: November, 03/2015 - 08:56
Fibres being made at the Ha Nam Weaving Company in Ha Nam Province's Chau Son Industrial Zone. The garment sector is attracting a new wave of investments. The country's successful integration with the international community has continued through numerous free trade agreements, namely the Trans-Pacific Partnership (TPP). — VNA/VNS Photo Tran Viet

HA NOI (VNS) — The National Assembly discussed Viet Nam's implementation of the 2015 socio-economic development programme during the 10th meeting of its tenure yesterday in Ha Noi.

Lawmakers praised the Government's achievements in its socio-economic development, national defence and security and global integration effort.

The economy produced its highest GDP growth in the last five years at 6.5 per cent, inflation maintained under control while production and exports were on the increase and the country's successful integration with the international community continued through numerous free trade agreements, namely the Trans-Pacific Partnership (TPP).

However, deputies also voiced concerns over limitations and shortcomings of the economy such as low productivity, increased public debt, a trade deficit and numerous challenges faced by Vietnamese agricultural enterprises and Vietnamese farmers to find markets for their products.

Agriculture boost

While NA deputies approved the Government's plan to restructure the country's agriculture sector, they also stressed the importance of the business sector as the driving force.

Only the business sector possessed the required management capacity as well as the financial instruments to transform the country's agriculture sector to a large-scale production model.

They called on the banking and finance sector to act as a guarantee to connect and facilitate businesses between farmers and businesses.

Deputy Nguyen Van Canh from central Binh Dinh Province said that the presence of a financial institution would make both businesses and farmers less susceptible to sudden changes in prices in the market, ensure inputs for production and secure investment for farmers.

Lawmakers also urged the Government to come up with policies to attract and encourage investment to modernise the country's agriculture sector.

Policies for trade

In regards to major free trade agreements such as the TPP, deputies recommended the Government perform a comprehensive review of the country's trade policies in order to be prepared for both opportunities and challenges they would bring.

Deputy Nguyen Cao Son from northern Hoa Binh Province asked the Government to step up on its effort to provide Vietnamese businesses with more information and guidance on the TPP, especially those operating in the agriculture sector.

Son said not only much support was required to modernise the sector, Viet Nam must also pay attention to building its own brands to better compete in a global economy.

Deputy Tran Khac Tam from southern Soc Trang Province said free trade agreements such as the TPP would only help Viet Nam if the country was ready to make use of the opportunities.

Tam said many expected Viet Nam's economy to achieve a growth rate of 8 per cent to 9 per cent annually after joining the World Trade Organisation. However, inadequate management capacity from the inside and unforeseeable developments of the global economy has often brought challenges to our door.

Tam advocated for a strict self-discipline by letting go of incompetent public officials and improve trade-related policies and mechanism.

Human resources

Lawmakers agreed that human resources development remained a priority and the driving force behind future socio-economic development of the country.

Deputy Nguyen Ngoc Hoa from HCM City said there were many Vietnamese students who went overseas to study but were not able to find a job working for the Government after they returned to Viet Nam.

Meanwhile, localities often find themselves struggling to secure the financial resources required to send officials overseas for training and higher education.

Hoa urged the Government to establish policies to attract Vietnamese students who acquired their education overseas to contribute to their homeland.

"The Government must create an efficient and transparent system, which is based on clearly explained categories to select and recruit young talent," he said.

Lawmakers also asked the Government to make vocational training more accessible in rural areas, which must aim to provide training that is suitable for rural populations. It should also encourage businesses to carry out their own training programmes. — VNS

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