Video of Representative Tran Van Lam, from the Bac Ninh National Assembly Delegation, sharing his thoughts:
Representative Tran Van Lam, Bac Ninh National Assembly Delegation:
Growth is needed in both breadth and depth.
The past term is an example of the difficulties and challenges faced by the Vietnamese economy . It was a term in which Vietnam had to confront epidemics, natural disasters, and geopolitical upheavals. But we overcame them spectacularly. This experience will guide Vietnam towards achieving higher growth targets in the coming period.
Currently, the government is doing a very good job of alleviating the current pressure, and these solutions will continue to be effective in the future.
General Secretary To Lam's recent speech was very comprehensive, covering all factors of economic growth. In my opinion, there are two issues that need more attention to achieve optimal growth and development. To do this, growth is needed in both breadth and depth.
In terms of breadth, this refers to investment such as expanding production scale and market factors. However, investment efficiency is the key factor. In reality, we are still experiencing growth in breadth, but investment efficiency remains low, despite being in the infrastructure development phase. Therefore, we need to improve investment efficiency.
Current growth still relies heavily on expansion (extensive growth), while investment efficiency remains low, as evidenced by the still significant ICOR (Incremental Capital-Output Ratio). This requires resources, both public and private, to be allocated to projects capable of delivering tangible and long-term benefits. If a project drags on for 5-10 years without being put into operation, the investment efficiency will be very low, even becoming a burden for the future.
Improving productivity and quality of growth is crucial. Accordingly, science and technology and digital transformation need to be promoted, not only at the policy level but also in the practical implementation by each business and individual, instead of remaining merely at the level of policies and resolutions. We also need to consider the human factor as key, not only in terms of competence but also in terms of responsibility, determination, and work attitude. The healthcare and education sectors need to be prioritized to ensure the quality of human resources, including competence, responsibility, and health. Working with determination and enthusiasm will yield vastly different results compared to a mindset of simply getting the job done.
However, economic growth must be linked to comprehensive development. A seemingly impressive growth figure is meaningless if it is accompanied by environmental pollution or a decline in social welfare. Growth must be a synthesis of economy, culture, society, and national defense and security to ensure sustainability.
Representative Nguyen Thi Suu, Deputy Head of the Standing Delegation of the National Assembly of Hue City:
The review and amendment of the legal system and decrees should be carried out soon.
To achieve double-digit growth, focus should be placed on three key areas of solutions.
Firstly, institutional reform is considered a crucial element. Current institutional frameworks still face many bottlenecks, even becoming obstacles to development. Therefore, reviewing and amending the system of laws and decrees needs to be carried out urgently, ensuring consistency and smooth operation, especially in areas such as land, environment, and construction.
Secondly, it's crucial to enhance enforcement capacity. Even the most perfect legal system will struggle to be effective if the enforcement team is inadequate. Therefore, it's necessary to encourage officials to think outside the box, take initiative, and accept responsibility, while also fostering proactiveness and creativity in performing their duties.
Thirdly, it is crucial to enhance policy response capabilities to global fluctuations. In a rapidly changing world with increasingly profound impacts on highly open economies like Vietnam, flexible and timely governance is key to maintaining stability and creating room for growth.
Representative Tran Anh Tuan, Ho Chi Minh City Delegation to the National Assembly:
Growth targets are achievable.
The Vietnamese economy is being strongly impacted by the global context, particularly the Middle East conflict and the protectionist trends of major economies. These factors have significantly increased input costs for businesses. Rising raw material prices due to the conflict, coupled with exchange rate fluctuations causing the Vietnamese Dong to depreciate, have driven up the cost of importing machinery, equipment, and raw materials for production.
Furthermore, inflation control policies in various countries have prevented interest rates on major currencies from falling, and in some cases, have even led to an upward trend, putting pressure on domestic interest rates. Rising input costs and rising interest rates cause production costs for businesses to increase, directly impacting competitiveness and export activities. Therefore, specific solutions are needed to curb rising input costs, stabilize prices, and thereby create conditions for improving production capacity, boosting exports, and ensuring double-digit growth targets. This is a major goal requiring the efforts of every sector, level, and locality, along with management solutions to maintain economic balance.
At the same time, it is necessary to continue innovating inspection and supervision work by shifting from pre-inspection to post-inspection. This demonstrates the State's trust in businesses and investors. When given the autonomy to act proactively, businesses will enhance their compliance awareness and responsibility in their production and business activities.
I expect that, with the decisive leadership of the Government and the concerted efforts of ministries, sectors, and localities, the growth target can be achieved, especially if adverse external factors such as the conflict are resolved soon.
Source: https://baotintuc.vn/thoi-su/muc-tieu-tang-truong-kinh-te-hai-con-so-la-thach-thuc-lon-20260408135944862.htm
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