Hanoi (VNA) – At the third session of the 14th NationalAssembly on May 22, the legislature heard the Government’s report on the implementation ofsocio-economic development and State budget tasks in 2016 and in the firstmonths of 2017.

According to the report, presented by Deputy Prime Minister Truong Hoa Binh, theConsumer Price Index (CPI) in April increased by 0.9 percent compared to Decemberlast year.

Meanwhile, the interest rate was stable and is likely to fall down. Credit growthclimbed by 5.75 percent – the highest year-on-year level in six years.

The country’s export turnover surged 16.8 percent, mainly in processing andmanufacturing industries, and agricultural products, the report said.  

State budget collection fulfilled 32.7 percent of the set plan for the wholeyear, up 17.8 percent. Newly-registered and added foreign direct investment hit10.6 billion USD, up 40.5 percent.

Nearly 40,000 new enterprises registered to be established over the first fourmonths of this year, with a total additional capital of 825 trillion VND (over36,300 million USD).

However, GDP growth in the first quarter of this year reached only 5.1 percent,lower than that recorded in the same period last year (5.48 percent).

Deputy PM Binh said ministries, sectors and localities needto take specific measures to achieve greater growth in the remaining quarters,towards realising the GDP growth target of 6.7 percent set for the year.

According to the Deputy PM, the Government and PM had directed ministries,sectors and localities to focus on accelerating equitisation, divestment and businessimprovement of State-owned enterprises (SOEs), however the process remainedslow.

A steering committee was established to examine and set forthprinciples and solutions to each major loss-making project in recent time, he said.

In the coming time, attention will be paid to restructuring, improving performanceand quickening equitisation of SOEs, especially ineffective firms and those sufferinglosses.

For major loss-making projects, the Government has askedrelevant ministries, sectors and localities, groups and corporations to rollout appropriate financial handling measures in line with market rules and risksharing, without using support from the State budget.

Measures have been outlined to promote culture development, social equality andadvancement, poverty reduction, job generation, education, and health care.

The Government has also instructed relevant agencies to enhance environmentalmanagement and take numerous ways to protect the environment such as closingnatural forests, reviewing hydropower projects and not licensing projects withhigh risk of causing environmental pollution and imposing strict punishments onviolators. 

Binh said theGovernment has called for both immediate and long-term measures to deal withclimate change, prevent natural disasters including floods, storms, droughts,saline intrusion and landslides, especially in Central, Central Highlands andMekong Delta regions.

It has effectively implemented the Resolutions of the Party and NA on national defence,security and foreign relations, significantly contributing to maintaining peaceand stability, and raising the position of the nation.

Also in the morning session, Vu Hong Thanh, head of the NA Commission forEconomic Affairs presented a report reviewing and assessing the implementationof the NA’s Resolution on socio-economic development in 2016 and the first monthsof 2017, which said that the country's macro economy was stabilised, majorbalances were ensured and inflation rate was curbed at a safe limit.

The commission suggested that the Government’s report need to give moredetailed assessment and analysis on some issues, especially those relating to economicgrowth and export turnover.

It agreed on measuresmentioned in the Government’s report, together with those set in the Resolutionof the NA on socio-economic development plan for 2017, he added-VNA