Hanoi (VNA) – The NationalAssembly Standing Committee opened its 28th session on October 15,with a focus on preparations for the upcoming sixth session of the NationalAssembly.

Opening the session, NAChairwoman Nguyen Thi Kim Ngan said high on the working agenda are reports tobe submitted to the NA, which assess the socio-economic and budget performancein 2018, socio-economic development plans and State budget estimates for 2019,the mid-term outcomes of five-year plans on socio-economic development,economic restructuring, national target programmes, mid-term public investmentplans and the national financial programme.

The committee will also reviewthree years of implementing support policies for socio-economic development inmountainous and ethnic minority areas, and look into the remaining of the 2017State budget and adjustment of the investment plan using Government bonds for2018.

Among documents to be tabled fordiscussion, there are also reports summing up voters’ feedback and petitionssent to the NA’s 6th session, and the supervision of the settlement ofvoters’ petitions sent to the NA during 2018.

The committee is scheduled toconsider the approval of the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) and related documents; and examine the implementationof the NA’s resolution on piloting electronic visas for foreigners.

Personnel matters are anotherimportant task for the NA Standing Committee at this session.

Following the opening ceremony,the committee listened to mid-term reports on the implementation of the2016-2020 socio-economic development plan, the NA’s Resolution 24/2016/QH14 onrestructuring the economy in 2016-2020 period, and the NA’s Resolution 100/2015/QH13on investment in national target programme during 2016-2020, along with reportson socio-economic performance in 2018, plans for 2019 and the outcomes of threeyears implementing the support policies for socio-economic development inmountainous and ethnic minority areas.

The Government’s report,presented by Minister of Planning and Investment Nguyen Chi Dung, said totalsocial investment in 2018 reached 1,890 trillion VND (around 81 billion USD),equivalent to 34 percent of the country’s GDP. The report noted the increasing trendin investment by the private sector, which accounted for 42.4 percent of totalinvestment in 2018, compared to 40.6 percent in 2017 and 30.8 percent in 2016. Therate has surpassed the 2018 target set by the National Assembly at 34 percent.  

Explaining the rise, the reportsaid effective measures taken by the Government and the Prime Minister inpromoting administrative reform and improving business and investmentenvironment have boosted the establishment of new enterprises and thedevelopment of cooperatives.

Specifically, the first ninemonths of this year saw the formation of 96,621 new enterprises with totalregistered capital of 963.4 trillion VND, up 2.8 percent in number and 6.7percent in capital compared to the same period in 2017. In additioin, 22,987enterprises resumed operation. Taking into account additional capital ofexisting enterprises, a total of 2,840 trillion VND was pumped into the economyin the period.

Speaking on behalf of the NA’sCommittee on Economic Affairs, Chairman Vu Hong Thanh agreed that institutionsfor the private sector have gradually been completed with the promulgation ofmany legal documents and policies. However, he noted that there remain severalbottlenecks in the implementation of support policies targeting the privatesector, especially resources shortage and barriers in the form of procedures.

According to Thanh, it isdifficult to reach the goal of having 1 million enterprises by 2020, givenexisting hindrances and the high number of business dissolution and bankruptcyin the first nine months of this year.

The 28th session ofthe NA Standing Committee will last until October 17.-VNA