On the sidelines of the discussion session at the Group on the morning of May 23, a reporter from the Industry and Trade Newspaper had an interview with delegate Nguyen Thi Yen, Head of the National Assembly Delegation of Ba Ria - Vung Tau province, about the additional assessment of the results of the implementation of the socio -economic development plan in 2024 and the implementation of the socio-economic development plan in the first months of 2025.
Solid recovery in quality
- What do the growth results in 2024 and the first 5 months of 2025 reflect about the internal strength of the economy, madam?
Delegate Nguyen Thi Yen: I think that the socio-economic results in 2024 and the first quarter of 2025 are outstanding bright spots, especially in the context of a world still full of fluctuations, geopolitical instability, supply chain crisis, global inflation and financial risks.
 |
| Ms. Nguyen Thi Yen - Head of the National Assembly Delegation of Ba Ria - Vung Tau province |
In 2024, GDP growth reached 7.09%, exceeding both the target and forecast, an impressive figure in the region. But more importantly, this is not just a quantitative recovery, but reflects a fundamental qualitative shift in the economy.
The first quarter of 2025 continued to record many positive signals: GDP increased by 6.93%; FDI capital reached nearly 11 billion USD, the highest in the past 5 years; international tourism increased by nearly 30%; e-commerce increased by more than 42%. Inflation continued to be controlled at 3.22%. This proves that the economic management capacity has been significantly improved, creating an important foundation for acceleration in the following quarters.
In particular, social security policies have been implemented well. Evidence is that the movement to eliminate temporary and dilapidated houses has been strongly and resolutely implemented; the unemployment rate is 2.2%, reducing employment by 1.72 times, narrowing compared to the same period last year.
However, it is impossible not to mention the achievements in digital transformation and innovation. Vietnam rose 2 places in the global innovation index, ranking 44/133. The national brand value reached 507 billion USD, ranking 32nd in the world. This is evidence that Vietnam is gradually escaping the "average level" in the global value chain.
Disbursement of public investment: No shortage of capital, lack of mechanism to resolve
- In your opinion, what bottlenecks are hindering growth rate and investment efficiency today?
Delegate Nguyen Thi Yen: The growth results are very encouraging, but to maintain and improve the quality of growth, we must look directly at the bottlenecks that have existed for many years. One of the biggest bottlenecks is the slow progress of public investment disbursement.
 |
| Slow disbursement of public investment is believed to be due to legal conflicts. Illustrative photo |
The reason is not financial capacity but mainly due to legal conflicts, cumbersome procedures and fear of responsibility.
In my opinion, the Government should consider applying a competitive mechanism, sanctions associated with rewards to create competitive motivation and handle bottlenecks of slow disbursement.
Regarding backlogged investment projects, more than 2,200 backlogged projects worth VND5.9 trillion are shortcomings in the investment cycle that last for a long time in the investment process, legal procedures and implementation coordination.
It is not a lack of capital, but a lack of a synchronous and clear mechanism for resolving the problem. Therefore, I propose that the Government continue to promote the role of the existing inter-sectoral working group, improve the effectiveness of coordination between planning, land, investment, and law. At the same time, consider delegating controlled authority to localities to handle some problems within their authority.
On that basis, it is proposed that the National Assembly consider issuing a Resolution on specialized supervision, clearly defining the deadline, output and responsibility of each level, in order to monitor the handling of backlogs more effectively and substantially.
To accelerate, we must increase the resilience of the economy.
- What proposals do delegates have to increase resilience and reduce dependence of the economy in the coming period?
Delegate Nguyen Thi Yen: One of the major challenges today is that the Vietnamese economy still depends heavily on FDI and external markets. Its ability to withstand global shocks is not really strong.
 |
| According to delegates, Vietnam's economy still depends heavily on FDI and external markets. Illustrative photo |
In 2024, more than 22,000 businesses withdrew, an increase of nearly 20% compared to the previous year. In the first quarter of 2025, nearly 78,800 more businesses withdrew from the market, meaning an average of more than 26,000 businesses closed each month. This shows that although the business environment has improved, it is not stable enough, especially for small and medium enterprises, which are the "backbone" of the economy.
In my opinion, the Government needs to shift its focus from “attracting new businesses” to “retaining and reviving” existing businesses. In the immediate future, it is necessary to expand preferential credit packages and flexibly extend/postpone tax and social insurance obligations. At the same time, it is necessary to develop a set of early warning indicators for business withdrawal risks from tax, social insurance, and labor data for timely intervention.
In addition, the gap between digital transformation goals and local practices remains large. Project 06 is not implemented synchronously, data sharing is fragmented, and there is no independent evaluation mechanism. In my opinion, the Government needs to conduct a comprehensive review of the quality of public data, assign the Ministry of Science and Technology to coordinate with the State Audit to periodically evaluate the effectiveness of data integration, and develop a decree on the data market. At that time, data will be identified, priced, and exploited as national assets.
Finally, I think it is necessary to immediately build a National Strategy on macro resilience, linked to supply chain diversification, localizing key industries such as semiconductors, AI, and renewable energy.
At the same time, it is proposed that the Government publish an “Economic Resilience Index” as a mandatory criterion in assessing provincial development strategies. If this can be done, we will have a more proactive, self-reliant and resilient economy in the face of global fluctuations.
- Thank you very much, delegates!
Source: https://congthuong.vn/dai-bieu-nguyen-thi-yen-dau-tu-cong-khong-thieu-von-nhung-thieu-co-che-ro-trach-nhiem-388968.html
![[Photo] Top players gather at the 2025 Nhan Dan Newspaper National Table Tennis Championship](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/5/23/9ad5f6f4faf146b08335e5c446edb107)
Comment (0)