Finance tops agenda at fourth Assembly session The fourth session of the 13th National Assembly opens yesterday in Ha Noi. — VNA/VNS Photo Nguyen Dan Prospective labourers are looking for employment opportunities at a job fair in the central city of Da Nang. Job creation is among five targets set by the Party and National Assembly that the Government has failed to accomplish. — VNA/VNS Photo Tran Le Lam HA NOI (VNS)— Viet Nam's socio-economic development plan and State budget for 2013 topped the agenda at the fourth session of the 13th National Assembly in Ha Noi yesterday. The meeting is expected to provide solutions to the country's financial obstacles. National Assembly Chairman Nguyen Sinh Hung said the country faces several challenges including low economic growth rate, implicit danger of high inflation and weak market and commodity management seriously impacting on living standards. Hung said drastic and effective measures are required to stabilise the macro economy, ensuring social security, raising living standards, maintaining political stability and creating sustainable development for future years. At the opening session, deputies heard a Government report on the implementation of the 2012 socio-economic development plan and an outline plan for 2013 presented by Prime Minister Nguyen Tan Dung. The Government leader affirmed that his cabinet's management had followed the targets and tasks set by the Party's and NA's resolutions, achieving 10 of the 15 targets. The five unattained targets included economic growth rate, employment generation, poverty reduction and afforestration. Dung said the inflation had been controlled while the macro economy has been experiencing stable change. He estimated the 2012 Consumption Price Index would be steady at 8 per cent, while budget overspending would remain at 4.8 per cent. GDP is expected to increase 5.2 percent and roughly 1.6 millions of jobs will have been created. "The economy is still battling underlying shortcomings and weaknesses. These include the threat of heightened inflation, the slow resolution of banks' bad debt, struggling enterprises, excessive volumes of stock and a stagnant real estate market," Dung said. A number of State groups and corporations have been performing poorly, violating laws and causing large losses of State assets. The restructure of the Viet Nam Shipbuilding Industry Corporation (Vinashin) is also proving problematic. Dung admitted some shortcomings in his Government's management include: poor implementation of administrative rules, a lack of supervision and a weak hierarchy. He added that a number of officials and civil servants degrade morality and shirk responsibility, undermining the people's trust. Being a Politburo member as well as Prime Minister, Dung admitted his mistakes before the NA, the Party and entire people for all weakness and shortcomings in checking and supervising the operation of State-owned groups and corporations. He pointed out the two giant corporations Vinashin and Viet Nam National Shipping Lines for their weak production and faulty trading practices, causing losses and serious damage to the State economy's reputation and role. Dung pledged that he himself and every Government member would be accountable, striving to solve weaknesses and shortcomings for the sake of the country's sustainable development. Stabilising measures The Government leader said next year's target would be to strengthen the stability of the economy through lower inflation and higher growth. "To reach its ambitious targets, the Government will focus on nine measures including monetary policy, problem solving, driving trade and production, ensuring social security, anti-corruption and administrative reform. "The Government is determined to finish restructuring weak financial and credit organisations, hasten solutions for bad debt, reinvigorate the real estate market and establish a debt treatment company," he stressed. Dung said the Government would resolve debts between the State budget and enterprises, while focusing on restructuring Vinashin and Vinalines. "The Government will also continue to develop sciences, education and strengthening land resource management," he added. Dung expressed his determination to eliminate corruption in the fields of land, mineral resource, credit, budget receipts, expenses and use of capital in the State budget. Regarding corruption fighting and prevention in 2012, Government Inspector General Huynh Phong Tranh said the number of corruption prosecutions increased on the 2011 figure. In the first nine months of the year, 44 heads of state organisations and enterprises were fined for corrupt activities. However the inspector admitted that the evils have been more complicated and widespread at lower levels, providing a cause for social concern. Tranh said the Government would continue improving measures in construction, land management, natural resources and banking in an effort to curb corruption. He also highlighted the roles of social organisations, enterprise associations and the media in the fight against corruption. During the month-long session, deputies will comment on draft revisions to the 1992 Constitution before considering public feedback on the issue. They are also scheduled to adopt a resolution on procedures for gathering votes of confidence for positions elected and approved by the National Assembly and local People's Councils. Nine revised laws on lawyers, electricity, tax management, personal income tax, national reserves, cooperatives, publication, the capital city and anti-corruption are expected to be debated and ratified. Six other bills, including the amended laws on land, science and technology, prevention and mitigation of natural disasters, anti-terrorism, security-defence education and grassroots mediation laws will be tabled for initial comments. — VNS