Take advantage of every opportunity to create a breakthrough within the economy

All three growth drivers are facing difficulties

In the closing remarks of the Forum, Chairman of the National Assembly Vuong Dinh Hue affirmed that the Forum has attracted great attention from society, people and the business community at home and abroad, as well as news agencies. , central and local press.

At the Forum, there were 7 presentations by speakers at the Plenary Session and 2 Thematic Sessions, and more than 40 articles from organizations, experts, and scientists.

In the thematic and plenary sessions as well as high-level discussions, there were more than 40 opinions from speakers, scientists, businesses and domestic and foreign delegates participating in exchanges and interactive discussions. each other. The spread of the Forum is also very positive.

The Forum spent a lot of time focusing not only on topical, short-term socio-economic issues but also on large, comprehensive issues and new trends shaping the world. , driving forces, new directions for growth and sustainable development of Vietnam.

Summarizing some of the main contents discussed by delegates, Chairman of the National Assembly Vuong Dinh Hue said that with the National Assembly, the Government of Vietnam promulgates and implements drastic policies and solutions. , timely, realistic, even without precedent during the past 2.5 years since the 13th Party Congress, Vietnam still stands firm, basically steadfastly overcoming all difficulties and challenges, achieving Many important and comprehensive results have been recognized internationally and domestically.

The economy still maintains its growth momentum and remains a "bright spot" in the "gray picture" of the global economy.

However, from the fourth quarter of 2022, Vietnam's economic growth will slow down, making it very difficult to reach the 2023 target of about 6.5% according to the Resolution of the National Assembly. In addition to agriculture, which is still the "support pillar", the growth drivers of investment, export, and consumption are all facing difficulties, low growth, and even experiencing "problems" and deceleration.

It is worth noting that all three current growth drivers of the economy are facing structural difficulties, due to the lack of long-term orientation and timely, feasible specific solutions towards green transformation and mitigation. energy intensive, carbon emission and circular economy and always adhere to the goal of sustainable development.

“The forum all agreed and emphasized that it is necessary to “renew” old growth drivers and traditional growth drivers on the basis of promulgating and implementing policy and legal frameworks to encourage changes. Change behavior in both consumption, production and investment," said the Chairman of the National Assembly.

On the contrary, the promulgation and implementation of policies are administrative and business-oriented, passive responses, and lack of long-term orientation in innovating growth models, restructuring the economy, and continuing to improve the environment. business investment market, improving labor productivity, and competitiveness of the economy will continue to reduce the confidence of businesses and investors and will significantly reduce economic growth both in terms of scale and quality.

In addition to consolidating and renewing existing growth drivers, the Forum also emphasized the need to effectively discover and exploit new growth drivers, especially drivers such as digital economic development and increased productivity. Labor productivity and total factor productivity, the development of the private economic sector, perfecting and improving institutional quality, especially for sustainable, safe digital transformation and energy transformation. equitable quality and climate change adaptation.

Strengthen coordination with countries in maintaining existing supply chains, cooperating to develop strategic, breakthrough and pervasive supply chains, enhancing Vietnam's position in supply chains. regional and global supply chains in the context that countries around the world are restructuring their own supply chains and investments in an environment of world economic integration.

It is necessary to synchronize policies and clearly identify priorities

Affirming the achievements of policies to support socio-economic development in the past half term, the Chairman of the National Assembly said that, based on the assessment of the results achieved, the shortcomings, opportunities and challenges half term and in 2023, delegates said that the problem is promoting internal resources, improving the endogenous capacity of businesses and the economy, while effectively applying "external forces" and tectonic factors. New driving forces for growth are the key factors, bringing synergy towards rapid and sustainable economic recovery and development.

Delegates also affirmed that this is an urgent issue but also a long-term journey, requiring synchronization of policies, clear identification of priorities, ensuring focus and emphasis, taking advantage of time, and taking advantage of every opportunity and advantage to create a breakthrough within the economy, improving resilience to shocks and challenges in the new context.

According to the Chairman of the National Assembly, at the Forum, many important, meaningful and practical policy suggestions were given around the Forum's theme, aiming at sustainable growth and development of the economy.

First, regarding the capacity and endogenous dynamics of the economy, delegates said that it is necessary to develop the production sectors of the economy, including agriculture, industry and services; Promote disbursement of public investment capital, stimulate consumer demand, develop the domestic market and improve labor productivity. Implementing these factors synchronously and in resonance will promote the overall endogenous strength of the economy.

Second, in terms of effectively applying and exploiting "external forces", we need to promote the driving forces from effectively attracting foreign investment and promoting exports, towards sustainability.

Third, in terms of creating new growth drivers for the economy, delegates made many policy suggestions, focusing on 5 main drivers: promoting regional connectivity, recovery and growth of economic leaders, development of the private economic sector, domestic enterprises, promoting digital economy, green economy, perfecting and enhancing the quality of economic institutions and enhancing position of Vietnam in the global value chain and enhance the economy's autonomy and self-reliance.

The Chairman of the National Assembly emphasized that delegates believe that reforming and improving the quality of economic institutions is a breakthrough driving force, but it is also difficult to implement and may take the most time because this driving force helps create new mechanisms. , new operating methods, creating an attractive and transparent business and investment environment.

To promote institutional reform, delegates suggested the need to continue to innovate thinking to raise awareness about the role of law making and enforcement.

Delegates said that institutional reform needs to ensure uniformity (between central and localities, domestically and internationally, promulgation and implementation, between sectors and fields...). Accelerate the process of perfecting institutions (especially laws on land, housing, real estate business, credit institutions, bidding, and specific mechanisms for some driving localities (such as Ho Chi Minh City). , Hanoi, Hai Phong...).

Complete the system of institutions, policies, and enforcement laws to connect economic regions, create economic links between localities in the region and between regions...

Ultimately, it enhances Vietnam's position in the global value chain.