VietNamNet Bridge – The 13th National Assembly's opening session continued yesterday, discussing possible reforms to the 1992 Constitution and the socio-economic state of the nation.

In the morning, NA deputies discussed this year's State budget and future plans for development.

The deputies agreed that although some progress had been reported in recent months, challenges remain and need to be thoroughly analysed.

Ha Noi Party Committee Secretary Pham Quang Nghi suggested ways to use the consumer price stabilisation fund properly and effectively.

Though the fund did not provide enough financial resources to meet market demand, it was a significant and necessary step for the period of price hikes, he said.

But this kind of economic intervention can only be successful if it is accessible to consumers.

Deputy Nguyen Ngoc Bao proposed lowering interest rates, explaining that the financial difficulties faced by enterprises would lead to unemployment and uncertainty. If production stagnated, it would result in a scarcity of goods and uncontrolled prices due to an imbalance in supply and demand.

As regards to inflation, deputy Bui Thi An said the country was actually controlling re-inflation at the moment, which was due to improper price management policies.

For example, she said, watch officers had only inspected wholesale markets in certain periods, rendering their efforts ineffective.

Instead, she said, market control must be maintained from the point of production all the way through circulation.

Rising food prices could be traced to a lack of support from the source. She advocated for special credit to be given to farmers and animal breeders.

Many other deputies agreed that aid from the source would help reduce costs.

Monetary matters also received a lot of opinions. Deputy Nguyen Thi Nguyet Huong said that, with such current high interest rates, it's hard for enterprises to make the necessary 25 per cent profit in order to pay expenses.

Deputies also consented that tight real estate credit policies must follow a gradual road map to avoid putting pressure on both banks and enterprises.

Deputy Nguyen Dinh Quyen said management of the macro economy should be tightened.

He noted that the legal framework for credit organisations was very strict in the years leading up to 1990, but it had loosened since 2003.

Specifically, there had been a proliferation of licence grants to both domestic and international credit organisations.

He proposed banks with foreign investors should be reviewed in order to maintain the health of domestic banks.

Deputy Dinh La Thang from Thanh Hoa Province said measures put forth by the Government to attain various socio-economic targets in the late months of the year should be executed with the participation of all bodies and people.

Revising constitution

In the afternoon, most deputies agreed on the need to modify and supplement the 1992 Constitution.

They reasoned that the constitution had existed since the beginning of the national renewal process, and the country had undergone many changes that made modifications necessary.

But they also stated that the reforms must take into account the systematisation and consistency of the constitution.

Deputy Nguyen Dinh Quyen from Ha Noi said the current Constitution was revised three times before being adopted during the national renewal period.

The renewal has been recognised mainly for economic mechanisms, culture, and rights and obligations of citizens, while the State apparatus was retained as before.

He suggested the reform should focus on revising regulations of the State apparatus, making it clearer about the role of the Government as the highest executive body.

Quyen asked about the extent of the National Assembly's power as the top supervisory agency.

Sharing Quyen's idea, other deputies said the root of the reform should be the State apparatus.

"Efforts should be concentrated on the revise of State organisation, making the power of State clearer," Deputy Tran Du Lich from HCM City said.

Deputy To Van Tam from Kon Tum Province proposed clarifying the relations between Party and State.

Deputy Ho Trong Ngu from Vinh Long Province said that although the State apparatus was a key issue, it was not the only matter to be revised in the Constitution.

The reforms should cover other aspects of the Constitution, such as land ownership and basic rights of citizens, he said.

Deputy Chairman Luu said that a detailed presentation of the reforms would be made at the closing session this weekend.

The draft of the revised Constitution would be passed in October, 2013.