The fifth session of the 12^th National Assembly (NA) opened in Hanoi on May 20 with a focus on re-adjusting the economic growth targets and devising effective measures and solutions to ensure an economic growth rate of five percent or more.

In his opening speech, NA Chairman Trong said that the world economy is still in a serious crisis with shrinking trade and investment. Even some major economies have adopted a host of measures to prevent a complete economic meltdown, there are still unforeseeable and unfavorable factors to consider and no signs of quick recovery in the near future.

This session takes place at a time when Vietnam is implementing its plan for socio-economic development in 2009 in the face of the world economic downturn.

In the first quarter of this year, Vietnam’s GDP growth increased by 3.1 percent and the country was one of only 12 other nations that recorded a positive economic growth rate in terms of investment, economic stimulus and social welfare.

Mr Trong pointed out that most of the targets for economic growth in the first quarter of this year were actually lower than those of the same period in previous years. He called on the NA, the Government, businesses and people to join effort in maintaining a reasonable and sustainable economic growth rate and ensuring social and political stability.  

Regarding the law-making process, the legislative body will discuss opinions on six draft laws on the elderly, medical examinations and treatments, telecommunications, radio frequencies and civil defense.

The NA is expected to adopt 12 other draft laws and re-consider the legislative programme for 2010 before approving a resolution on the issue.

At this session, the NA will consider Government reports on the implementation of socio-economic tasks and the State budget for 2008 and during the first months of 2009 as well as the final accounts of the 2007 State budget.

The NA will discuss several Government reports on re-adjusting targets for economic growth for 2009, the State budget’s overspending, the supplementary issuance of Government bonds, tax exemptions, reductions and extensions under the Law on Personal Income Tax. A project to improve financial mechanisms for the education and training sector during the 2008-2012 period, and land border marker planting and delineation between Vietnam and China will also be looked at.

The NA will hear reports on the introduction of legal policies to control the quality, safety and hygiene of food, the resettlement of people moved to build the Son La hydro power electric project and voters’ recommendations and NA deputies’ Q&A sessions.

This session will run for a month and is due to close on June 2009.