Top legislator stresses importance of macro-economic stability at socio-economic forum | Policy

Preview Socio-Economic Forum 2022 (Photo: VNA)

Hanoi (VNA) – Speaker of the National Assembly (NA), Vuong Dinh Hue, stressed the importance of maintaining macroeconomic stability strengthening the resilience of the economy while delivering a closing speech at the 2022 Socio-Economic Forum in Hanoi on September 18.

This is also the message that the first socio-economic forum wants to convey, he said.

Particular attention should be paid to the structure and quality of credit, Hue noted, adding that it is necessary to continue to deal with bad debts, restructure the banking system, manage poorly performing banks and seek measures to increase the capital of commercial banks, in particular public banks. and those with state capital.

Markets such as the stock, financial, currency, real estate, goods and services markets are the “blood vessels” of the economy. It is therefore essential to take measures to ensure that they circulate and develop in a healthy and sustainable way, he stressed.

Senior lawmaker stresses importance of macro-economic stability at hinh anh 2 socio-economic forumSpeaker of the National Assembly Vuong Dinh Hue (seventh from left) poses for a photo with other forum delegates (Photo: VNA)

With regard to long-term objectives, the highest legislator stressed the need to maintain economic restructuring, by modifying, supplementing and perfecting institutions, in particular the land law; and make efforts to make Vietnam a developing country with modern industry and upper middle income by 2030, and a developed and high-income country by 2045, as stated in the resolution of the 13th National Party Congress .

At the forum, participants agreed that the world’s rapid digital transformation and green energy transition have created many opportunities, but also posed many challenges and difficulties for Vietnam. However, in the context of many countries facing high inflation and low growth, Vietnam has managed to maintain low inflation and achieve high growth.

According to a conservative estimate by the Ministry of Planning and Investment, Vietnamcan achieve a growth rate of over 7% and keep inflation below 4% this year. The country can also reach 750 billion USD in import-export turnover, doubling the scale of GDP.

They also expressed concern about the negative impacts of climate change and extreme weather events. In Vietnam, in just eight months of 2022, climate change and extreme weather caused losses of 6 trillion VND (253.3 million USD), 6.7 times higher than in the same period the last year./.

Melvin B. Baillie