The restructuring of the economy will be carried out in three areas, the restructuring of investment, state-owned enterprises and the banking system.
Some deputies said that the country should focus on the restructuring of public investment.
Deputy Tran Du Lich from Ho Chi Minh City said that he cared about the restructuring of investment. He suggested that the restructuring of budget investment should be a tool to make the markets and enterprises more efficient. According to deputy Lich, it was necessary to identify where to invest in order for it to be most efficient and research should be conducted as to whether the investment stimulated the economy.
Stressing the significance of the restructuring of the economy deputy Lich suggested that the NA should issue a resolution so that the Government would have relevant documents and check on the legal system to serve the restructuring.
NA deputies agreed that economic growth must slow down in initial years of the next five-year plan and gradually increase in final years of the period while the inflation must be kept at one-digit level and gradually decrease.
Deputies Huynh Van Tiep from Can Tho City and Hoang Dang Quang from the central province of Quang Binh said that the state investment should be focused on agriculture, farmers and rural areas to ensure food security and make it a firm mainstay as the world economy changes.
Deputy Le Phuoc Thanh from the central province of Quang Nam said that the budget investment should be poured into important infrastructure projects, especially traffic projects, in order to foster socio-economic development such as this.
He added that attention should also be paid to the training of labour and the application of science and technologies by producers to increase the quality and value of products.
Regarding the subject of inflation and the target of a one-digit level for 2012, many deputies agreed with the target, saying that lower economic growth compared to 2011 should be accepted and priority given to stabilizing the macro economy and curbing inflation.
Deputy Nguyen Cao Son from the northern province of Hoa Binh, in 2011, said that although the inflation was reduced, it remained high.
According to deputy Cao, fiscal and monetary policies should be issued simultaneously to curb inflation.
Agreeing with the overall target for 2012 of curbing inflation, stabilizing the macro economy, maintaining growth at a reasonable rate, deputy Le Phuoc Thanh from the central province of Quang Nam said that curbing inflation meant tightening the financial system.
He suggested reducing spending on consumption, prioritizing investment for production, and arranging public investment.
Deputy Ha Ngoc Chien from the northern province of Cao Bang said the policy to curb inflation needed to be well planned considering adjustments to the exchange rate and the price of input materials; this would hopefully avoid a market shock.
During the discussion, deputy Tran Du Lich said that he agreed with the Government that curbing inflation should be the number one target in 2012.
According to deputy Lich, the Government’s resolution 11 with six groups of solutions brought remarkably positive results which were shown to decrease the consumer price index.
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