(VOVWORLD) -National Assembly deputies on Friday discussed measures to attain this year’s GDP growth target of 6.7%, attract social investment, improve the investment environment, develop the retail market, and promote agriculture.
The deputies adopted a government report that Vietnam’s economy has overcome a difficult period and is recovering. They asked the government to elaborate on its macro-economic management of development investment, the domestic economy, regional cooperation, agricultural restructuring, and the price of farm products.
Determined to attain GDP growth of 6.7%
Le Cong Dinh, a deputy for Long An province, said in order to attain this year’s GDP growth target of 6.7%, it’s necessary to accelerate the disbursement of capital from the state budget. He talked about non-state-budget resources: “It’s important to systematically mobilize resources for production including overseas remittances. The macro-economy should be kept stable, particularly by controlling inflation, while the investment environment should be further reformed to support start-ups. Incentives are needed to attract overseas remittances and we must protect the interests of the remittance senders and receivers.”
The deputies proposed that government working teams be set up to help businesses resolve policy obstacles. Pham Trong Nhan, a deputy for Binh Duong province, said: “The government needs a specific plan to increase inspection of policy enforcement relating to the retail market and competition. The Law to Support SMEs should be implemented to help businesses compete with foreign retailers. Vietnamese retailers have to improve themselves and cooperate with each other to gain more market share.”
The deputies said the development Vietnam’s manufacturing and support industries will contribute to economic growth. The government should adopt policies to boost support industries, encourage FDI enterprises to invest in and transfer technology to Vietnamese partners, and develop science and technology centers.
Designate agriculture as a spearhead sector
The State has spent 5.6% of its budget on agricultural development while the agricultural sector makes up 18% of the economy. The deputies proposed that the government designate agriculture as a spearhead sector and investment more in it. Ma Thi Thuy, a deputy for Tuyen Quang province, said: “We need to fine tune policies on land, technology transfer and application in production, and agricultural management. Only science and technology will help generate qualified products to compete in global markets. Resources should be focused on developing our agricultural infrastructure. We need policies to enhance connectivity between farmers and businesses from production and processing to distribution. The market should be more open to allow domestic and imported products to compete fairly and circulate freely. Trade promotion and regional connectivity are important processes.”
Tran Thi Hoa Ry, a deputy of Bac Lieu, province, said: “Rural and agricultural investment should be increased and allocated appropriately. Farmers should be supported in applying advanced technology to production. Laboratories and research centers should be upgraded to find better animal and plant varieties. We need to establish trademarks for our agricultural products.”
New measures are needed to attract investment, develop markets, and promote spearhead economic sectors to attain the economic growth rate of 6.7% set by the National Assembly for this year.