In his opening speech, Mr Trong said that the seventh session is taking place just as   regional and global economies are rebounding from the global economic downturn.

Despite many difficulties and challenges, Vietnam’s economy has seen positive changes in the past few months, with an economic growth rate of 5.83 percent, nearly double the rate recorded in the first quarter of last year.

Total capital for social investment and industrial production value in the past four months rose sharply. By mid-April, total State revenues had reached 29.2 percent of the annual forecast, higher than the previous years’ figures.

Social welfare, socio-political stability, national security and defence have been   maintained, people’s living conditions have been improved and Vietnam’s status in the international arena has been raised.

Mr Trong said the achieved results will serve as a good foundation for all sectors to fulfill their five- year targets for socio-economic development set in the resolution adopted at the 10^th National Party Congress.

The NA leader, however, pointed out that difficulties and challenges still lie ahead such as unsustainable economic growth, a rising consumer price index, a high trade deficit, a reduction in foreign investment capital which has affected the balance of payments and foreign currency reserves, low efficiency of business production, natural disasters, and epidemics.

Mr Trong called on NA deputies and NA agencies to heighten their sense of responsibility and brining into full play their wit and wisdom to make this NA session a great success.

 Stabilising macroeconomy, curbing inflation

Following Mr Trong’s speech, Deputy Prime Minister Nguyen Sinh Hung presented a supplementary report on the implementation of tasks for 2009 and major solutions to stabilise the macroeconomy, control inflation, and maintain economic growth.

Regarding the 2009 State budget and plan for socio-economic development, Mr Hung said that 2009 was the most difficult year of the past decade but thanks to joint efforts by the Party, State and people under NA supervision, Vietnam has overcome challenges to halt the economic slowdown, curb inflation, ensure social welfare, and maintain a relatively high economic growth rate.

Remarkable progress was made in education, healthcare, culture, information, sports, science and technology and environmental protection, Mr Hung said but there remain weaknesses that need to be overcome such as unsustainable economic growth, falling export turnover and falling foreign direct investment (FDI), the threat of high inflation, limited job generation, and poor management of food hygiene and safety and environmental protection.

To fulfill all tasks for 2010 effectively, Mr Hung underlined to stabilise the macro economy, curb inflation, boost business production and investment, and achieve a GDP growth rate of 6.5 percent.

Mr Hung said it is essential to accelerate agriculture and rural development, reduce poverty, ensure national security and defence, complete administrative reform, raise management effectiveness and achieve unanimity on implementing this year’s tasks.

More than 1,100 voter opinions sent to the NA

NA deputies heard President of the Vietnam Fatherland Front (VFF)’s Central Committee Huynh Dam present a report on 1,157 opinions collected from voters throughout the country. The opinions focused on six topics: The NA’s legislative and supervisory activities; results of stabilising prices and controlling inflation; labour and job creation issues; education, training and health care; land management, natural resources, and the environment; anti-corruption, thrift practice and waste prevention.

The NA session which is expected to last until June 19, will consider and vote on 10 draft laws and give opinions on six other laws concerning property, the State Bank of Vietnam, criminal prosecution, inspections and consumer protection.

NA deputies will also discuss a US$55 billion project to build a Hanoi-HCM City express railway and a master plan for Hanoi’s development through 2020 with a vision for 2050.