National Assembly member: exports have increased strongly but depend on FDI

	NA Standing Committee urges faster implementation of support package for recovery
	Budget deficit of more than VND216 trillion submitted to the National Assembly for consideration and approval
	National Assembly’s third session opens

Delegate Huynh Thanh Phuong (Tay Ninh delegation) spoke at the discussion session. Photo: quochoi.vn

Continuing the work program at the 3rd session of the 15th National Assembly, on the morning of June 1, the National Assembly discussed the results of the implementation of the socio-economic development plan and the state budget. year 2021 and summarize the implementation of Resolution No. 42/2017/QH14 on piloting bad debt settlement of credit institutions.

Appreciating the results of the implementation of the socio-economic development plan and the state budget in the first months of 2022, delegate Huynh Thanh Phuong (Tay Ninh) emphasized the recovery guidelines, policies and solutions, socio-economic development has been promulgated by the Party, State, National Assembly and Government in a timely and strong manner in the right direction and effectively in practice.

However, there are still some limitations and weaknesses, such as: delays in the construction and approval of the plannings; disbursement of public investment capital is still slower than required; fiscal and monetary policies aimed at socio-economic recovery and development put into practice production and life still revealed defects; the timeliness and synchronization among all levels and branches in problem solving and implementation of procedures are still inadequate.

Delegate Huynh Thanh Phuong proposed to step up institutional improvement, improve the responsibility and capacity of the management apparatus in a substantive way, especially the head, adjust and supplement reasonable policies, encourage technical and technological innovation, develop enterprises and economic bases based on new achievements of the industrial revolution 4.0.

In addition, there are appropriate solutions to expand and diversify the import and export markets of goods, international and domestic capital markets; continue to take strong enough legal, organizational, administrative and economic measures to effectively prevent and fight corruption and negativity, and make the state management apparatus healthy.

In the context that Vietnam is facing many difficulties and challenges, which are difficult to predict as it is today, delegate Nguyen Duy Minh (from Da Nang) suggested that the Government pay more attention to the issue of strong export growth. The contribution of the FDI sector is still the largest in Vietnam's trade structure.

This enterprise cited, in 2021, the FDI sector contributed to 74% of total export turnover. This reflects that exports are heavily dependent on the foreign-invested economic sector, but it is also creating many potential uncertainties for the economy.

“The export market shares the proportion of most key products are carried out by FDI enterprises. This reflects the limited competitiveness of domestic enterprises and the lack of linkage between domestic enterprises and FDI enterprises," said delegate Nguyen Duy Minh.

The Da Nang delegation suggested that the Government should encourage domestic enterprises to expand their business, especially in the manufacturing and high-tech fields to strengthen the domestic industrial base and improve the quality of human resources. At the same time, it is important to encourage FDI enterprises to use high-quality Vietnamese labor.

Overview of the negotiation session at the National Assembly hall on the morning of June 1. Photo: quochoi.vn

Addressing the discussion, delegate Ta Thi Yen (Dien Bien) proposed to clarify a number of issues, contributing to further removing difficulties for the economy to develop more sustainably and the people's quality of life to be improved.

Specifically, about the slow and unsatisfactory disbursement of public investment capital, the inspection report of the Economic Committee of the National Assembly clearly stated that the amount of undisbursed capital construction investment of the Central Government is 71.6 billion VND, of which 16 billion VND of national target programs have not been allocated or disbursed in 2021.

The disbursement of ODA loans only reached 32.85% of the plan and many ministries and branches reached less than 20%. This situation has lasted for many years, it has been slow to be overcome and the slow disbursement of foreign capital still incurs management fees.

“This gives rise to unnecessary, wasteful and inefficient state budget expenditures. In addition, the money invested is mainly borrowed money and is subject to interest and management fees, therefore, slow disbursement will lead to an increase in total investment, a decrease in investment efficiency, and a decrease in investment efficiency and capital use," said delegate Ta Thi Yen.

Strengthening controls to point out which organizations and individuals are responsible for this delayed implementation is necessary for the State's decisions to be seriously, effectively and effectively implemented, meeting the requirements of the Government to meet the expectations of the people.