The National Assembly’s Economic Committee held a plenary session in Can Tho City on March 11 to examine the socio-economic report for the upcoming ninth session of the 13th National Assembly.

 The Ministry of Planning and Investment (MPI)’s report has shown that the country achieved the socio-economic development targets set for 2010, especially in terms of economic growth, export turnover and the country’s total investment capital.

 

 The MPI said that the socio-economic situation in 2010 developed well while the national economy recovered rapidly in the context of the complicated over the world economy. The export situation continues to develop and record high growth rate, over four times the set target. In addition, social welfare has been ensured and people’s living standards have been improved.

However, to seize new opportunities, the country also has to face great challenges. At the session, many delegates said that inflation is recurring, which has a direct impact on the national economy. In addition, there is a growing instability with inflation, strong fluctuations of exchange rates, the trade deficit and balance of payment and in the financial and monetary markets.

 Delegates highlighted the government’s resolution No 11 which will have a great impact on curbing inflation, stabilizing the macro-economy, and ensuring social welfare and sustainable development, as well as reducing poverty and maintaining political security and social order.

Delegates proposed that priorities should be given to curbing inflation. In addition, the State should also refine the legal mechanism in line with international norms, ensure the effective implementation of fiscal and monetary policies and sort out shortcomings related to synchronizing and overlapping policies.

(VOV)