Socio-economic performance under NA discussion

Deputies hailed the 2015 socio-economic achievements: controlled inflation, a stabilized macro-economy, and a GDP forecast of 6.5%, the highest rate this year. 2015 saw an improvement in people’s living conditions.

However, deputies acknowledged a sluggish economy, which remains unstable and uncompetitive. Tran Ngoc Vinh- a deputy for Hai Phong said, "I urge the government to further analyze the factors causing Vietnam’s economic instability while improving the capabilities of forecasting and coordinating in managing the macro-economy, in order to set forth solutions for 2016. It’s essential to further empower local governments to boost administrative reforms and prevent corruption and wastefulness."

Deputies agreed on the importance of improving domestic businesses’ competitiveness. Nguyen Ngoc Hoa from Ho Chi Minh City stated, "More solutions are needed to develop Vietnam’s businesses and entrepreneurs as they are key forces for future economic growth. We aim to have 2 million businesses in 5 years from the current 500,000 and develop private businesses into advanced, well-organized businesses in all economic sectors."

They agreed on the importance of creating equal access to human resources across the society and called on the government to pay more attention to institutional reforms to support Vietnam’s international integration and its implementation of international commitments.

Vietnam aims to maintain its economic growth and achieve a GDP growth of 6.7% next year.