The Speech of Mr. Cao Si Kiem, the deputy of the 13th National Assembly cum President of VINASME in 7th session.

(VINASME) - On June 2^nd , 2014, in 7^th session of the 13^th National Assembly, Mr. Cao Si Kiem released the speech titled Discussion on evaluating and completing the result of socio- economic development and state budget in 2013; local and central budget balanced amendment in 2013; implementing the plan of socio- economic development and state budget at the beginning  months of 2014.


VINASME are pleased to send to you the full text of this speech.

Dear National Assembly deputies

I would like to discuss two new points in 2014 Plan. Through complementary report 2013 and first four months of action in 2014, there are two out standing subjects:

Firstly, the sign of economic recovery is increasingly clear. Macroeconomic stability was stronger than the expectation of 2013 and has better balance between economic and social sector, especially in agriculture, forestry and aquatic.

Problem solving for companies is increasingly effective. Controlling inflation has make good condition for lower interest, lower costs, extending export, extending  foreign reserves, stable exchange rate, lower ICO.  Innovation in arrangement of banks and companies and in institutions achieved some significant resualts at the beginning steps. These are the factors proving that we are making  progress in recovery and stability, make good basis and motivation for the implementation of many plans in 2014 and 2015.  Though, there are many new challenges in last six months of 2014.

Firstly, escalating violation of China in East Sea would cause multi-aspect impact on socio-economic condition in next time.
Secondly, our economy is growing but not steady, aggregate demand is not rising while the rate of inventory, bad debit and bankruptcy is still in high level. Credit capital for production and business is limitative and focus on government bonds.  The circulation of capital inflows is weak and does not greatly influence  the economic growth.

Thirdly, for state budget balance, government spending tends to increase while revenue collection is going to decline. This fact can leads to inequality in state budget and greatly affect to the performance of this year plan, especially growth and inflation targets.

For resolution for last seven months, I appreciate the resolution of 8th Central Conference on economy and government’s resolution on May, 2014. In carrying out these resolutions, we need to concentrate to two main points:

Firstly, we need to quickly and effectively overcome the disadvantages mentioned in the report
Secondly, we need to draw up an active but not inciting plan for dealing with escalating violation of China in East Sea for short and long term situations, build an independent economy, diversify the propaganda mechanisms of the market economy works.

For recent policies, I suggest that we should rapidly concrete on mechanism, conditions and practical address, for instance, the credit package with low- interest and priority subjects, including fisheries, agriculture, small and medium enterprises to make these solutions come into effect in practice.

The measures proposed by Government and the Ministers aims to  improve the efficiency of processing and consuming agricultural products and focus on rural and small and private businesses area. These are two subjects which still have many difficulties in development and great potential in revenue enhancement, contribute to economic growth, increasing employment and stabilizing people’ lives.

Fourthly, in operating activities, not only the transparency but also fast and accurate prediction is extremely essential.  We also need to monitor and handle seriously distortion, agitation and vandalism behavior in proactive way, strengthen local and foreign investor’s confidence.

Thanks you for your attention.