Key balances maintained for industrial production

Tran Thi Hong Thanh, National Assembly deputy Ninh Binh province

I propose that the government focus on directing the implementation of several tasks and solutions.

Firstly, it is necessary to promote institutional improvement, create a favourable environment for promoting economic growth, and focus on resolutely promulgating and implementing more effectively policies and solutions to remove obstructions, especially legal issues on land valuation and access to capital.

The government will also need to soon issue a legal framework to facilitate the development of the digital economy, green economy, circular economy, and energy transition.

Secondly, although the corporate bond market is recovering quite positively, the recovery is not yet synchronous. Private issuance is still the main part, and the biggest risk is that the number of corporate bonds maturing in 2024 is massive, worth about VND380 trillion ($15.83 billion).

Therefore, it is recommended that the government focus on directing the development of a safe, professional, and sustainable corporate bond market with the following key solutions. Specifically, it is necessary to quickly reform procedures, shorten the issuance and licensing time, supplement policies to encourage credit rating, and publicise credit rating information for businesses.

At the same time, it is also needed to promptly consider and license a few more credit rating companies with sufficient capacity, and diversify products in the corporate bond market. Currently, there is basically only one type of corporate bond, while green bonds, construction bonds, sustainable bonds, and social bonds are mostly not mentioned.

It is necessary to improve the infrastructure of the corporate bond market as a secondary market, and focus on strengthening the database of bonds and collaterals. Besides that, it is needed to better the quality of individual investors in the market by enhancing financial education for them, and at the same time, introducing policies to encourage institutional investors.

Pham Hung Thang, National Assembly deputy Ha Nam province

In 2024, the country has faced many unfavourable factors from both outside and internal economic shortcomings, while being severely affected by natural disasters. However, with the high determination of the entire political system, the economy has overcome these, achieving many important and comprehensive results since the beginning of the term. But there are still many limitations that need addressing, such as credit growth, interest rate support, and loan interest rate reduction failing to meet the set targets. Production and business activities of enterprises still face many difficulties, with the number of enterprises leaving the market remaining large. Although the growth rate and labour productivity have reached and exceeded the set plan after three years, they are still low.

Moreover, the disbursement rate of public investment capital is still slow. In health and education, there are still many issues that constituents and people have been concerned over but have not been resolved.

It is recommended that the government continue to review, amend, and supplement policies to remove problems for businesses, especially administrative procedures and loan interest rates, creating new advantages for businesses to recover and develop.

It is also necessary to further strengthen management, focus on implementing solutions to remove obstacles, accelerate disbursement of public investment capital, prioritise resource allocation for infrastructure investment connecting national target programmes, and study mechanisms to allow localities to transfer capital from ineffective projects to other key projects to promote investment resources.

Trinh Lam Sinh, National Assembly deputy An Giang province

With GDP growth in the first nine months of the year reaching 6.82 per cent and determination to strive for a growth rate exceeding 7 per cent for the whole year, I highly appreciate the government’s proactive and drastic management. This is an enormous effort in the remaining months of the year.

To achieve this goal, I propose that the government continue to implement scenarios to promptly respond to economic growth levels, effectively implement solutions, focus on traditional growth drivers, especially exports, and at the same time promote the implementation of new growth drivers.

According to the government’s report, in the first 10 months of this year, the total import-export goods turnover of our country was estimated at $647.87 billion – up 15.8 per cent. At the same time, the total import-export turnover in 2024 is forecast to reach a record level of over $800 billion.

This shows the recovery of domestic production and consumer demand, in which foreign-invested enterprises’ exports have a high proportion.

However, we are concerned that the number of Vietnamese enterprises withdrawing from the market is increasing, meaning that many enterprises are still facing many difficulties.

It is recommended that the government continue to provide policy support to help domestic businesses out of difficulties, and at the same time issue more drastic support policies to protect and stimulate domestic consumption of goods in the face of the increasingly fierce penetration of goods, especially cheap goods, from abroad through e-commerce transactions and social networks.