The two-day forum reviews the results of the 2014 socioeconomic development plan and proposes measures to implement socio-economic plans during 2015 and improve business environment. 

At the opening ceremony, Chairman of the National Assembly’s Economic Commission, Nguyen Van Giau, said the forum chose the theme of investment environment reform (considered a priority for 2015 and 2016) and slogan “Turning Words into Action” as a result of the NA’s consensus and creativeness.

Giau proposed some issues for discussion related to society, culture, education, science, technology, environment protection, improvement of living conditions, acceleration of administration and judicial reform, anti-corruption, thrift practices and loss-prevention, defence and security.

He further asked the forum to evaluate competitiveness through clear indexes, solutions for agricultural restructuring and production connectivity, public debts, ODA garnering, bad debts, import-export, employment, security, support policy for those who made contribution to the national development, insurance, health care and education.

Another important issue slated for debate is international economic integration, including the impact of free-trade agreements and globalisation on Vietnam’s economy.

Growth

Tran Dinh Thien, Director of Vietnam Institute of Economics, highlighted that 2014’s growth occurred as the economy continued to show signs of recovery and the post-quarter’s growth was higher than the pre-quarter. However, the recovery rate was low and the growth did not surpass 6%, much lower than the average growth during the 1990-2010 period.

Tran Dinh Thien, Director of Vietnam Institute of Economics

Vietnam’s export markets were diversified but the import markets were just concentrated. For instance, Vietnam exported products to many countries like the US, the EU, China and Japan but imported up to 29% of total products from China.

High public debts

Vietnam’s public debts were 46.9%, which was on a safe level proposed by the Ministry of Finance. However, public debt management Thien said, adds to the State budget deficit which has occurred and even increased in recent years.