On the afternoon of March 4, the National Assembly’s supervisory delegation, led by Vice Chairman of the National Assembly, Mr. Nguyen Duc Hai, worked with the Ho Chi Minh City People’s Committee (UBND) on the implementation of Resolution 43 of the National Assembly on fiscal and monetary policies to support the Economic Recovery and Development Program and Resolution 57 on the investment plan for the construction of the Ho Chi Minh City Belt Road 3 project until the end of 2023.
During the supervision session, Mr. Le Quang Manh, Chairman of the National Assembly’s Finance and Budget Committee, stated that the goal of Resolution 43 is to accept a one to 1.2% increase in the budget deficit in order to promote a quick recovery and development of production and business activities to stimulate growth.
“It is necessary to determine how much progress has been made towards the goals set by this resolution and to clearly identify which specific policy groups have contributed the most and the least to the recovery and development,” Mr. Manh commented.
Mr. Le Quang Manh, Chairman of the National Assembly’s Finance and Budget Committee, exchanges views during the supervision session. Photo by Ngo Tung
Exploit positive results from Belt Road 3 for other projects
Expressing his opinion on the Belt Road 3 project, Mr. Nguyen Van Danh, Vice Chairman of the Binh Duong Provincial People’s Committee, stated that completing the Tan Van intersection is extremely difficult, and the more time goes by, the more obstacles arise. He proposed implementing a capital adjustment mechanism to increase efficiency and ensure synchronization.
“If the budget is not sufficient, we can implement the PPP mechanism to overcome the bottlenecks,” Mr. Danh suggested.
Meanwhile, Mr. Phan Van Mai, Chairman of the Ho Chi Minh City People’s Committee, acknowledges that the two resolutions have had many positive impacts but have not been able to solve all problems. According to him, policymakers need to pay attention to the impact of the global economic downturn on Vietnam’s economy in general and the Key Economic Zone in the South in particular…
Chairman of the Ho Chi Minh City People’s Committee, Mr. Phan Van Mai, expresses his opinion.
“At a time when the global economy is showing signs of recovery, it is necessary to enhance the presence of Vietnamese businesses and the Vietnamese economy in global production and supply chains,” the Chairman of the People’s Committee proposed, stating that this requires a national policy to promote it.
The head of the Ho Chi Minh City administration believes that the mechanisms of Resolution 57 for the Belt Road 3 project are very good and should be utilized to study and apply the positive results to other projects.
Connected to the specific mechanism
In concluding the working session, Vice Chairman of the National Assembly, Mr. Nguyen Duc Hai, suggested that Ho Chi Minh City adhere to the viewpoints and closely follow the resolutions during the implementation process.
According to Mr. Hai, through the supervision session, the supervisory delegation will propose solutions for the future, but it should not be expected that all policies will continue to be extended. On the other hand, it is also time to prepare other resolutions and policies that are more appropriate.
“In particular, Resolution 57 for the Belt Road 3 project must continue to be implemented in connection with the resolution on the specific mechanism for Ho Chi Minh City,” emphasized Mr. Hai.
Vice Chairman of the National Assembly, Mr. Nguyen Duc Hai, concludes the supervision session. Photo by Ngo Tung
Based on the supervision session, Mr. Hai suggested that Ho Chi Minh City take into account the opinions of the supervisory delegation and submit additional reports before March 15.
In particular, regarding Resolution 57 for the Belt Road 3 project, Ho Chi Minh City needs to continue to supplement the evaluation of effectiveness in coordination between localities; determine compensation, support and specific responsibilities of relevant agencies, organizations, and individuals; propose specific recommendations and solutions to complete the land recovery, resettlement support, etc.
