Lower growth reflects actual circumstances

Minister of Planning and Investment Nguyen Chi Dung responded to the concerns of National Assembly (NA) deputies during the legislature’s plenary meeting on November 9, the second working day of the second phase of the 15th NA’s second session.

The socio-economic situation in 2021 faced many difficulties and challenges, Minister Dung said in agreeing with the general consensus of deputies.

The Covid-19 outbreak in many localities resulted in a stagnation of economic growth and also affected people’s daily lives, especially those on low incomes.

The Ministry of Planning and Investment was unable to carry out four of the 12 tasks assigned it by the NA, including ensuring GDP growth. While growth was lower than expected, it corresponds to the actual socio-economic situation being hit hard by Covid-19.

The newly-issued Resolution No. 128 on safely and flexibly adapting to and effectively controlling Covid-19 will help change the situation and regain the trust of the people, businesses, and investors about the economy’s resilience.

Minister Dung also touched on the disbursement of public investment.

Slow disbursement was seen mostly in three national target programs and the specific disbursement plans of ministries, agencies, and localities. Incomplete legal procedures also caused a lag in disbursement. The government has directed that over the last two months of 2021, these procedures are to be completed so that capital can be implemented in December or in 2022.

Regarding site clearance, the Minister said the government will submit to the NA a scheme that separates site clearance and resettlement into separate projects implemented in advance, thus saving time.

Regarding amendments to the Law on Public Investment, he said they have been basically completed.