(VOVworld) - The global economic downturn and complicated developments have exposed great challenges to Vietnam in making policy and managing its socio-economy. The 4^th session of the 13^th National Assembly has reserved much of its time to discussing measures to boost socio-economic development for the remaining months of this year and next year. The session focuses on solving bad debts, inventory goods, boosting consumption, restructuring state-owned enterprises and banks, and drastically reforming tertiary education.

NA deputies put forward their ideas

Curbing inflation and stabilizing the macro-economy are the Government’s ultimate tasks. The deputies said the Government should harmoniously combine financial and fiscal policies to gradually reduce credit interest rates, clear bad debts, stabilize the exchange rate, and keep public debt at a safe level. They support the Government’s plan to form a National Committee to resolve bad debts. Tran Hoang Ngan, a NA deputy from Ho Chi Minh City said:  "It’s difficult to resolve bad debts. Bad debts appeared in 2008 and 2009 when we boosted demand and a lot of money poured into the market. I hope the Government will focus on resolving bad debts as soon as possible."

Deputies asked the government to give priority to restructuring the economy. Tran Du Lich, a NA deputy from Ho Chi Minh city, said economic restructuring needs a master plan. "I propose the establishment of a National Committee on economic restructuring led by the Prime Minister. The Committee will be in charge of restructuring investment, banks, state-owned enterprises, and bad debts. International experience shows that the commercial banks themselves can’t resolve their bad debts without the government’s intervention," Lich said.

Vu Viet Ngoan, Chairman of the National Financial Supervisory Commission said Vietnam’s economy is facing low supply and demand. The government should issue construction bonds to boost demand and reduce the construction material inventory. "We must accelerate demand in order to clear stockpiles. I suggest the government issues construction bonds for important projects. We can find outlets for construction materials such as steel and cement," Ngoan shares his ideas.

Some deputies looked at the fact that since the beginning of the year, many companies have closed, throwing tens of thousands of people out of work. Nguyen Thi Kim Thuy, a NA deputy from Da Nang city, said it’s necessary to create specific measures to reach the target of generating 1.6 million jobs next year. "The National Assembly set a target of generating1.6 million jobs next year, including 90,000 overseas workers. This year, we expected to generate approximately 1.52 million jobs, but that figure was unrealistic. We need adjustments to hit next year’s target," Thuy said.

The deputies debated tertiary education reform. Ngo Thi Minh, Vice Chairwoman of the NA’s Commission for Culture, Education, and Young People said it’s important to consider the number of universities and colleges in a region. "If we don’t balance social demand and training, the consequences will be great. It’s similar to an enterprise producing goods without caring about market or consumption."

The law-makers said management of the socio-economy has been on the right track this year. The government has achieved notable results in stabilizing the macro economy and social security, doubling the foreign currency reserve, and curbing inflation. In order to achieve next year’s development targets, the deputies asked the government to adopt stronger and more flexible policies and mobilize a joint effort by the Party, the army, and the people.

Ngoc Anh