The National Assembly of Vietnam has taken decisive steps to bolster economic growth and infrastructure development as it passed key resolutions during its ninth extraordinary session on February 19, 2023. With overwhelming support from its members, the assembly focused on significant initiatives aimed at developing urban rail systems and facilitating the construction of nuclear power projects, particularly the ambitious Ninh Thuận facility.
According to reports, 459 out of 460 assembly members supported the resolution concerning special mechanisms and policies for the Ninh Thuận nuclear power project. The approved resolutions aim to create favorable conditions for rapid implementation and investment, projecting significant economic benefits for the region.
One of the notable achievements of this session was the unanimous endorsement of measures to develop urban rail systems in both Hà Nội and Thành phố Hồ Chí Minh. This entails the introduction of eleven distinct provisions aimed at expediting the project's initiation. Among these are financial strategies allowing the local government to secure up to 120% of its budget revenues through various permissible methods, including issuing municipal bonds. This innovative strategy is intended to support the city’s funding requirements without burdening taxpayers excessively.
The National Assembly acknowledged the pressing need for efficient urban transportation solutions to accommodate the rapidly growing populations of these cities. During the session, various assembly members called for careful consideration of environmental conservation alongside infrastructural enhancements.
Commenting on the economic objectives, the assembly passed another resolution focused on Vietnam's socio-economic development plan for 2025, outlining targets for sustained growth. The resolution specifies goals to achieve at least 8% economic growth, which is viewed as foundational for transitioning to more formidable double-digit growth by 2030.
The measures taken during this legislative session signify Vietnam's ambitious strategy to revitalize its economy and improve the quality of life for its citizens. The resolutions will not only streamline project approvals but also integrate technological and financial innovations to tackle urbanization challenges head-on.
From the assembly’s perspective, the new policies concerning the nuclear power initiative outline streamlined processes for negotiating international collaborations, thereby encouraging foreign investment. This includes provisions allowing for specialized procurement methods, particularly for complex projects requiring advanced technology, which will help expedite project timelines.
Through these resolutions, the National Assembly has set the stage for significant infrastructural advancements. The ambitious Lào Cai - Hà Nội - Hải Phòng railway project, with over 203 trillion VND allocated, has been earmarked to facilitate not just local transport but also international freight connections. This supports Vietnam's aspirations to position itself more prominently on the global logistics map.
"Quốc hội kêu gọi đồng bào, chiến sỹ cả nước và đồng bào ta ở nước ngoài nêu cao tinh thần thi đua yêu nước," reflects the assembly's intention to unify efforts across the nation to realize the ambitious growth targets articulated.
These sweeping reforms and resolutions by the National Assembly capture Vietnam's proactive approach to stimulate economic recovery and address infrastructure imperatives. By prioritizing these areas, the government is demonstrating its commitment not only to immediate growth but also to sustainable development and long-term viability of its urban frameworks.
The resolutions are poised to make meaningful impacts on urban connectivity and energy sustainability, which is indispensable for Vietnam’s economic roadmap. With collective enthusiasm and support, the assembly seeks to lead the nation toward achieving its ambitious development goals through these newly minted policies.