The National Assembly Standing Committee spent the whole day discussing reports evaluating the implementation of the socio-economic development plan and State budget in 2019 during the ongoing 38th session in Hanoi on October 15.

Minister of Planning and Investment Nguyen Chi Dung (Photo: VNA) 

They also talked about the socio-economic development plan, State budget estimate and allocation in 2020.

Minister of Planning and Investment Nguyen Chi Dung reported that despite facing an array of difficulties, the country has reaped positive socio-economic outcomes in many aspects in 2019 with macroeconomic stability and gross domestic product (GDP) growth of 6.8 percent.

Relating to public concern about the slow disbursement of public investment capital, Chairwoman of the NA Committee for Justice Le Thi Nga suggested revising laws on land, investment, planning, construction and housing to find out the reason behind this matter.

NA Vice Chairman Do Ba Ty said the positive performance in realising socio-economic development goals in 2019 has brought Vietnam into the group of countries posting high growth in the region and the world. 

He said it is necessary to clarify the causes of outstanding problems and assess the impacts of the regional and global situation on Vietnam’s socio-economic development in order to do better in the following years.

Ty particularly mentioned the effects caused by the US-China trade tensions and the situation in the East Sea.

More attention should be paid to climate change adaptation and environmental pollution reduction as well as public debt and overspending, he said.

Chairman of the NA Committee for Culture, Education, Youth, Adolescents and Children Phan Thanh Binh said the competition among power economies and the situation in the Association of Southeast Asian Nations (ASEAN), including the East Sea issues, will exert significant impacts on Vietnam.

Furthermore, the Fourth Industrial Revolution will influence all social areas, including information explosion, he added.