In his opening speech, National Assembly chairman Nguyen Sinh Hung said Vietnam’s macro-economic situation remained unstable, with many sectors facing eye-watering difficulties.

“The restructuring of the banking system and the settlement of bad debts are slow, while inventory levels remain big. The number of enterprises with stopped operations, dissolution and bankruptcy continue to increase, and employment, incomes and the lives of labourers face big difficulties,” Hung said.

“Such a situation means we have to stay united by issuing study and synchronous solutions to overcome difficulties and challenges to successfully implement 2013’s socio-economic development plan, laying firm groundwork for sustainable development in the coming years,” he said.

In his report on Vietnam’s socio-economic development for 2012 and 2013’s beginning months, Deputy Prime Minister Nguyen Xuan Phuc underscored the urgent need to revitalise local production.

“Removal of production difficulties and increase of purchasing power must be focused [on],” Phuc said.

He said all cumbersome administrative procedures must be simplified and all state officers vexing enterprises must be punished strictly. The government would also find ways to increase credit to a rate of 12 per cent in 2013.

Notably, the government would also be more active in solving bad debts and establishing Vietnam Asset Management Company soon, Phuc said.

“The economy’s purchasing power will be unable to rebound due to slashes in labourers’ incomes and enterprises’ production […] The number of enterprises with ceased production or bankruptcy in this year’s first four months continued to remarkably increased on-year,” Phuc said.

Specifically, some 19,600 enterprises stopped production or bankruptcy during this year’s first four months, up 16.9 per cent on-year.

In this year’s first quarter, the economy grew 4.89 per cent on-year. But the rate was made possible thanks to on-year high growth of the service sector’s 5.65 per cent which holds 2.6 per cent out of this 4.89 per cent. The on-year growth rates of the agro-forestry-fishery, and industrial and construction sectors were 2.4 and 4.93 per cent, respectively, both far lower than that in the same periods of the previous four years.

This fifth session will also see many important issues and laws discussed and adopted.

Specifically, the top law-making body will consider and adopt 10 bills and one resolution, give opinions on the draft amendment of the Constitution 1992 and seven other bills.

The laws to be reviewed and adopted include Grassroots Mediation, Land (amended), Prevention and Mitigation of Natural Disasters, Prevention and Combat Terrorism, Science and Technology (amended), Defense and Security Education, amendment and supplement of some articles of the Law on Residence, amendment and supplement of some articles of the Law on Corporate Income Tax, amendment and supplement of some articles of the Law on Value-added Tax, and amendment and supplement of Article 170 of the Law on Enterprises.

The Resolution on the Legislative Development Agenda for the year 2014, and the revision of the Legislative Development Agenda for the 13th Legislature and the year 2013 will also be reviewed and adopted at this session.

Meanwhile, the laws to be given opinions include Draft Amendment of Constitution 1992, Petition Processing, Plants Protection and Quarantine, amendment and supplement of some articles of the Law on Emulation and Award, Bidding (amended), amendment and supplement of some articles of the Law on Fire Prevention and Fire Fighting, Thrift Practice and Waste Combat (amended), and Employment.

Additionally, the session will also see big discussions of the country’s socio-economic development issues, related to the implementation of the socio-economic development plan and state budget for the first four months of this year, and state budget balance for 2011.

Especially, the session will conduct for the first time the poll and vote of confidence on personnel holding positions that have been elected or approved by the National Assembly or the people’s councils, on the basis of Resolution 35/2012/QH13.

Hung will report to the National Assembly on some issues in implementing the resolution. The National Assembly will conduct the debates at provincial parliamentary delegations on the poll of confidence on personnel holding positions that have been elected or approved by the National Assembly.

As scheduled, on the morning of June 11, some 49 officials will be subjected to the vote of confidence.

On the afternoon of the same day, the vote-checking committee will announce the results of vote checking.

Voting for confidence would be held in secret ballots annually, as from the second year of officials’ terms of office.

Source: VIR.