Gov’t set to achieve all major targets for this year
Gov’t set to achieve all major targets for this year
Vietnam expects to fulfill all 12 major socioeconomic targets for the second consecutive year and even surpass five of these goals, Prime Minister Nguyen Xuan Phuc told a regular Cabinet meeting today, October 2.
PM Phuc informed Cabinet members of the country’s socioeconomic performance between January and September this year, with gross domestic product expanding by 6.98%, the highest level in nine years.
Development investment inched up 1.3%, especially in the private sector, he remarked, adding that the amount of disbursed foreign direct investment had reached a record of some US$14.22 billion.
According to the leader, State budget revenue rose 10.3% while the country’s trade surplus was estimated at a staggering US$6 billion.
The processing and manufacturing sector remained the driving force of economic growth as it expanded by some 11.3%, he noted.
Despite the adverse impact of African swine fever and climate change, along with the restructuring process, the agricultural sector still grew by 1.2%.
The number of new enterprises stood at a record high of 102,000, and the trend is expected to become more sustainable, he said.
Other significant achievements were also recorded in consumer services, tourism, culture, social affairs, national defense and security and external relations, the leader added.
“People’s lives all over the country have seen further marked improvements from urban to rural and remote areas…,” he stressed.
These results are aligned with the Government’s assessment that all 12 major socioeconomic targets will be reached for the second straight year, including five goals whose results are expected to exceed expectations, according to the Cabinet leader.
He noted that the fulfillment of these goals will still ensure the quality of economic growth accompanied by broad macroeconomic stability and social security.
In spite of various difficulties and challenges, plus regional and global uncertainties, Vietnam still climbed 15 places to rank eighth among the world’s best economies for investment this year, he stated, citing the U.S. News & World Report.
He also pointed out limitations, such as the slow disbursement of public investment, of which only 45.1% of the target set by the legislative National Assembly has been disbursed.
To speed up the disbursement process, the Government has already created specific measures. The leader asked the Ministry of Planning and Investment to finetune a draft decree in this regard as soon as possible so that he could sign it for immediate issuance.
Other problems included national disasters and diseases, especially African swine fever, which resulted in a 20% drop in the number of pigs nationwide; the increasing number of dissolved companies, mainly those in the trading and service sectors; and the reduction in registered foreign direct investment.
Given the environmental pollution in the country’s largest cities, HCMC and Hanoi, the PM asked the concerned ministers, heads of agencies and city leaders to seek feasible solutions to resolve the issue.
He called for greater efforts in the remaining months to complete the yearly targets, thereby creating a catalyst for 2020 when Party congresses at all levels will be held for the 13th National Party Congress.
