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NA Standing Committee opens its 42nd session

Update: October, 13/2015 - 09:37

HA NOI (VNS) — The National Assembly Standing Committee (NASC) yesterday opened its 42nd session in Ha Noi with good news about this year's national socio-economic development and scheduled plans for next year.

A Government report delivered after the opening ceremony highlighted continuous recovery of the national socio-economic sector in the past three-quarters of the year, and it also predicted more positive results in the remaining months, despite numerous challenges ahead.

Although the consumer price index (CPI) increased by 0.74 per cent compared to the same period last year and was recognised as the lowest spike in decades, the Government has ensured sufficient macro-economic control, the report said.

The economic growth rate, inflation, budget revenue and deficit, imports and exports have met the expected targets, according to the report.

The gross domestic product grew by 6.5 per cent over the past nine months, the fastest year-on-year pace in four years, the report said.

The Government added that in 2016, it would continue working to improve the economy while keeping economic growth stable and sustainable. It pledged to step up economic restructuring, improve the effectiveness and competitiveness of the economy, and carry out social welfare and environmental protection objectives.

Many NA deputies agreed with the Government report. They asked the Cabinet to analyse opportunities and challenges in 2016, especially the impact of recent visits by Vietnamese leaders to powerful countries and the finalisation of negotiations on the Trans-Pacific Partnership agreement.

The 2016 socio-economic development plan must remain in line with the 2011-2020 socio-economic development strategy and draft documents to be submitted to the upcoming 12th National Party Congress, deputies said.

NASC members yesterday also were briefed on the state budget expenditure this year and estimates for 2016, as well as Government bond issuance terms and a project to issue Government bonds in international capital markets by 2020.

The five-day NASC meeting is scheduled to prepare for the fulfillment of significant content, which will be discussed and approved by the NA at its 10th session on October 20.

Aside from discussions on law and regulative documents, the session will focus on preparatory work for the accession to the 1965 Hague Convention on Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters, as well as the National Election Council and National Election Day for National Assembly deputies and People's Council representatives at all levels.

At the 42nd session, the NASC will also provide feedback on a number of bills related to asset auction, signing and accession to international conventions (amended), administrative procedure (amended), and tax and associations.

Promoting production

At the session yesterday, NA Chairman Nguyen Sinh Hung said promoting production at home is crucial to reducing the trade deficit.

He highlighted the importance of maintaining macro-economic stability and increasing Viet Nam's standing in the global market, especially given the conclusion of the Trans-Pacific Partnership (TPP) negotiations.

On the draft Law on Property Auction, lawmakers agreed that there was a need to issue a law to address connivance and create transparency in auctions.

With eight chapters and 77 articles, the law is also expected to improve the legal framework in adjusting property auction activities.

The law is intended to concretise the regulations of the 2013 Constitution on improving the market economy and developing socio-economic affairs.

Today, the NA Standing Committee will give opinions to the draft revised Law on Signing, Joining and Implementing International Treaties and review preparations for the 10th sitting of the 13th National Assembly. — VNS

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