Delegate Dang Xuan Phong agrees with the policy of building high-speed railway.

On the morning of November 13, at the group discussion session, delegate Dang Xuan Phong, member of the Party Central Committee, Secretary of the Provincial Party Committee, Head of the National Assembly Delegation of Lao Cai province expressed his high agreement with the policy of building a high-speed railway line.

Delegate Dang Xuan Phong spoke at the discussion on the morning of November 13.

According to the delegate, our railway system is very slow. “In the context of the current general trend in the world and the region, we strongly agree and highly agree with the policy of building a high-speed railway line” - delegate Dang Xuan Phong said.

The delegate expressed: "Some comrades expressed concerns about the high-speed railway. We share them, but we think that although we are concerned, we should not worry. Because we believe that we will be able to do it and ensure the requirements of technology, capital, and progress."

Delegation of Lao Cai province's National Assembly at the group discussion session on the morning of November 13.

Regarding capital, delegate Dang Xuan Phong stated: This is the initial step, the pre-feasibility step. Some comrades expressed concerns about two indicators, one is public debt, the other is budget deficit.

As for public debt, according to the Government and the National Assembly's reports, we are currently at 37% of GDP, while the National Assembly allows 60%. This issue is often assessed as very good, because it is lower than the threshold allowed by the National Assembly, very safe. From a certain perspective, it is good, but from another perspective, I think it is not good, it should be close to 60% to be good, because only with investment can there be growth, without investment there will be no growth, no development.

Many countries have very high public debt, even more than 100% of GDP, the most important thing is to calculate public debt against other indicators. I understand that public debt and budget deficit will be related to major balances, such as inflation. But if our public debt increases and GDP increases by 2%, while inflation increases by only 1%, we are completely proactive in this issue.

Scene of the group discussion session on the morning of November 13.

Another issue that Delegate Dang Xuan Phong is concerned about is special policies. From the reality that some projects have been behind schedule, causing a lot of capital increase. Therefore, the delegate suggested that in the future, there will be special policies to encourage the acceleration of the completion of projects.

Another specific policy is the leader. If the head of the Party, State or Government is the head of the steering committee, delegates believe that the projects will be implemented very quickly, ensuring technical and aesthetic requirements...

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