The ninth session of the National Assembly (11^th tenure) opened in Hanoi on May 16 under the chairmanship of NA Chairman Nguyen Van An.

After the opening speech by NA Chairman An, Party General Secretary Nong Duc Manh briefed NA deputies of the results of the recent 10^th Party National Congress. Deputy Prime Minister Nguyen Tan Dzung delivered a report on the implementation of the 2005 socio-economic development tasks.

In the afternoon, the NA continued its work with the NA Vice Chairman Truong Quang Duoc in the chair. Nguyen Duc Kien, Chairman of the National Assembly Commission for Economic and Budgetary Affairs delivered a report on the settlement of the 2004 State Budget balance-sheet. Minister of Natural Resources and Environment Mai Ai Truc presented a plan on land use for the 2006-2010 period. Mr Kien also delivered a report on the verification of the plan on land use for the 2006-2010 period. Minister of Planning and Investment Vo Hong Phuc presented a report on allocation and use of major sources of capital, especially official development assistance (ODA) source capital through projects.

Also in the afternoon, the NA heard report on management, allocation and usage of huge capital sources, especially ODA. According the report, in the 2001-2005 period, the total social investment capital accounted for 37.5 percent of GDP, increasing by 30 percent compared to the set plan and doubling the figure of five years ago. Of the figure, the total capital sourced from the State budget made up 24.5 percent; the State’s investment credit capital, 12.6 percent; the State-owned enterprises’ investment, 15 percent; the private sector and individuals, 28.6 percent; and the foreign direct investment, 16.6 percent.

The total investment capital sourced from the State budget in the 2001-2005 period reached VND274,300 billion, including VND41,750 billion from ODA. Investments from the State budget aimed to boost the implementation of the set plan with a focus on developing the socio-economic infrastructure, as well as giving priority to implementing social targets, human resource development, job generation, poverty reduction, education and training, science and technology, healthcare and culture. Investments in social fields are likely to increase gradually. In the 2006 plan, the investments from the State budget have amounted to VND81,580 billion, accounting for 21.7 percent of the total social funding.

Regarding the mobilisation and usage of ODA, the report also noted that ODA commitments kept increasing year after year. In the 1993-2005 period, the total committed ODA value was estimated at US$32.6 billion, while total signed ODA capital reached US$24.9 billion.

However, there still remained certain shortcomings in ODA capital management work, the report said. These shortcomings were partly attributed poor management in some sectors and agencies at all levels.