The 10th session of the 14th National Assembly

2020 is a difficult year as Vietnam has suffered from the COVID-19 and severe natural disasters. But the National Assembly and the Government have guided Vietnam’s economy to overcome the challenges to gain positive results.

Bright spots

Vietnam is poised to achieve or surpass 8 of 12 socio-economic development goals for this year. The first 9 months of 2020 saw a trade surplus of nearly 17 billion USD and a foreign currency reserve of 100 billion USD.  

Vietnam’s agriculture-forestry-fishery sector has continued to be a pillar of the economy, with an estimated export value of 41 billion USD. Everything bodes well for Vietnam’s economic recovery and development during the next 5-year development plan.

Vu Tien Loc, a National Assembly deputy for Thai Binh province (Photo: baochinhphu.vn)

Vu Tien Loc, a National Assembly deputy for Thai Binh province, emphasized the government’s improvement of the business environment. He said, "The government has successfully carried out 3 phases of administrative reform, removed thousands of sub-licenses, and simplified 60% of business requirements and procedures. About 20% of business-related administrative regulations will be removed. Building an e-government is moving forward. Vietnam is determined to become recognized as a safe destination for international businesses and a safe and responsible place in the global supply chain.”

The National Assembly has discussed a number of social security issues, including employment, education, and income. Vo Dinh Tin, a deputy for Dak Nong province, said: “Rural economic structure has visibly improved. Rural workers now have stable jobs and income which has contributed to sustainable socio-economic development. The rate of household poverty has fallen from 9.88% in 2015 to 3.75% in 2019. The progress reflects great Party and State effort and the effectiveness of national target programs.”

Pursuing a dual goal

Socio-economic development results in 2020 have proved the effectiveness of the government’s strategy to fight the COVID-19 pandemic while simultaneously developing the economy. National Assembly deputies strongly support the continuation of the current government policy.

Truong Trong Nghia, a deputy for Ho Chi Minh City (Photo: baochinhphu.vn)

Truong Trong Nghia, a deputy for Ho Chi Minh City, said: “The pandemic is causing bankruptcies in developed countries, but it can help a developing country grow if the country has an appropriate action plan. We have introduced feasible solutions and action plans to deal with the pandemic, climate change, and non-traditional security threats in this “new normal” period. This will require making changes to goals, mechanisms, and solutions. Vietnam’s major export markets -- the US, the EU, Japan, and South Korea -- have changed their consumer habits and Vietnam will have to adapt.” 

The deputies have supported stricter government measures in COVID-19 prevention, post-pandemic development plans, and preparations for a possible resurgence of the pandemic.