National Assembly to Drive Institutional Reforms for Economic Growth

Strategic Insights -

As the National Assembly (NA) Chairperson, TraoSSn Thanh Mao, emphasizes the need for strong institutional and legal reforms to propel the economy forward, the legislative body is poised to push through critical changes to remove obstacles hindering growth. The NA will focus on restructuring the Party Central Committee, National Assembly, and Government apparatus, as well as reorganizing local administration structures. These reforms aim to create a conducive environment for achieving a growth rate of at least 8 per cent in 2025 and laying the groundwork for double-digit expansion during the 2026-2030 period.

Key Takeaways:

  • The National Assembly will continue to support the Government in driving institutional and legal reforms to boost economic growth, with a focus on removing obstacles and creating a favorable environment for development.
  • The NA will push through the restructuring of the Party Central Committee, National Assembly, and Government apparatus, as well as reorganizing local administration structures, to improve governance and leadership.
  • By July 1, 2024, a Resolution amending and supplementing certain articles of the 2013 Constitution and a Resolution on the mergence of provincial-level administrative units will come into effect, with localities expected to complete the reorganization of their administrative apparatus by August 15.
  • The NA Chairman, TraoSSn Thanh Mao, has emphasized the need for a growth rate of at least 8 per cent in 2025 and double-digit expansion during the 2026-2030 period to drive economic growth.
  • Key areas for improvement include enhancing public investment disbursement, promoting science and technology, innovation, and digital transformation, as well as boosting exports and expanding markets.
  • The NA Chairman has also stressed the importance of addressing critical issues such as weak domestic consumer demand, slow public investment disbursement, and inadequate purchasing power in some sectors.

Statistics:

  • Growth Rate: A minimum growth rate of 8 per cent is expected in 2025, with the goal of achieving double-digit expansion during the 2026-2030 period.
  • Public Investment Disbursement: Slow progress has been made in disbursements, with progress remaining sluggish.
  • Purchasing Power: Purchasing power in some sectors has been recovering slowly, reflecting weak domestic consumer demand.
  • Climate Change, Storms, and Floods: The NA Chairman has urged proactive responses to these challenges.

Sources:

  • National Assembly (NA) Chairperson, TraoSSn Thanh Mao. Speaking at group discussions related to the socio-economic development plan and state budget in 2024 and in the early months of 2025, as part of the 15th NA's 9th session.
  • "National Assembly to drive institutional reforms for economic growth." [Source not explicitly provided in the original text].