They are also to approve the State budget settlement in 2023 and considered the allocation of foreign non-refundable aid for regular expenditures in 2025.
Legislators are scheduled to discuss the continuation of certain special mechanisms and policies previously approved by the N.A. for specific localities, following the reorganization of the administrative apparatus and the expansion of administrative boundaries in line with the Party and State’ guidelines. Other topics include the implementation of thrift practice and anti-waste measures in 2024, as well as the outcomes of the national gender equality goals for the year.
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N.A. deputies of Hanoi discuss draft laws in a group. |
Regarding the implementation of the socio-economic development plan in the early months of 2025, the Government’s report highlighted that GDP growth in the first quarter expanded by 6.93% — the highest rate for the same period during 2020-2025. Several localities recorded double-digit growth. In the first four months, macroeconomic stability was maintained, inflation was well controlled, and major economic balances were ensured. State budget revenue reached over 944 trillion VND (36.34 billion USD), accounting for 48% of the annual estimate and up 26.3% year-on-year. Total import-export turnover was estimated at over 275 billion USD, up 15%.
To achieve a GDP growth target of at least 8%, expand the economic size to over 500 billion USD (projected to rank 30th globally, up two places), and raise per capita GDP to over 5,000 USD in 2025, the Government has called on all sectors and localities to continue implementing the set tasks and solutions in a resolute, synchronous and effective manner across all areas.
The Government urged keeping close watch on domestic and international developments, proactive forecasting, and having timely, flexible, and effective policy responses, particularly in reaction to new tariff policies of the U.S.; giving priority to promoting growth in tandem with maintaining macroeconomic stability, controlling inflation, and ensuring key economic balances.
The Government requested accelerating the disbursement and efficient use of public investment capital, with a focus on key and prioritized projects, avoiding fragmentation; effectively and resolutely implementing the Politburo’s resolutions on breakthroughs in science and technology development, innovation, and national digital transformation; international integration; reforming lawmaking and law enforcement; and developing the private economic sector.
During their sitting at the hall on the same day afternoon, legislators will discuss the draft law amending and supplementing some articles of the Law on Bidding; the Law on Public-Private Partnership; the Law on Customs; the Law on Export-Import Tariffs; the Law on Investment; the Law on Public Investment; and the Law on Management and Use of Public Assets.
Source: VNA