Legislators will debate reports submitted by the Government, the Chief Judge of the Supreme People’s Court and the director of the Supreme People’s Procuracy on how they are progressing with their responsibilities. They will also spend time questioning Cabinet members on issues of voter concern.

They will also discuss the Government’s plan to adjust Hanoi’s administrative boundaries and several other neighbouring provinces, and a pilot scheme to allow foreigners to buy houses in Vietnam.

In his opening speech, NA Chairman Nguyen Phu Trong stressed that the session is taking place at a crucial time when the Government, ministries, localities and businesses are working hard to minimise the adverse impacts of the global economic slowdown on the national economy. Domestically, the prolonged cold spell and various epidemics have driven the consumer price index up, affecting the country’s growth targets as well as business production and people’ daily lives.

He asked legislators to thoroughly analyse the situation and discuss possible solutions with the Government to overcome the immediate difficulties and fulfil the set socio-economic development tasks for 2008.

On behalf of the Government, Prime Minister Nguyen Tan Dung delivered a report, putting forward major solutions for controlling inflation, stabilising the macro economy, ensuring social welfare and maintaining economic growth.

Reviewing the major targets for the past four months of this year, he said that Vietnam has achieved a GDP growth rate of 7.4 percent, or 0.4 percent less than the figure a year ago and far beyond the 8.5-9 percent target set for the whole year. Despite a high export growth of 27.6 percent, the trade deficit also hit a record high of 71 percent, making up 60.8 percent of total export value. The consumer price index for April rose by 11.6 percent compared to last December.

The PM looked at the causes behind the situation and pointed out some of the Government’s weaknesses. He said that the Government has adopted many measures to curb inflation, iron out problems for businesses, boost exports, reduce imports and ensure the supply and demand of essential commodities. It is hoped that these moves will stabilise market prices and support the people, particularly farmers, fishermen, the poor and those living in natural disaster-hit areas.