PM Nguyen Xuan Phuc speaks at the monthly Cabinet meeting. (Photo: VNA) Hanoi (VNA) – Vietnam gainedpositive economic achievements in the first quarter of this year despite arange of difficulties both in and outside the country, Prime Minister NguyenXuan Phuc has said.
Chairing a monthly Cabinet meeting inHanoi on April 2, PM Phuc said the GDP growth was estimated at 6.79 percent,while the macro economy was stablised and the foreign currency reserve has beenon the rise.
The inflow of foreign investmentincreased by nearly 31 percent, with 4.12 billion USD disbursed, and totalrevenue from retail sales and services rose 12 percent, he added.
During the reviewed period, Vietnam’s exportscontinued to expand amidst the global economic slowdown, helping the country toenjoy a trade plus of 536 million USD in the first three months of 2019, PMPhuc said.
The government leader highlighted thepromising outcomes in budget collection, reaching almost 27 percent of theestimates, and establishment of new businesses, with more than 28,400enterprises set up, along with low unemployment rate.
Although the global economy is predictedto slow down this year, international organisations still have a positiveoutlook on Vietnam, he said, citing the growth forecast by the AsianDevelopment Bank (ADB) and the World Bank (WB) at 6.8 percent and 6.6 percent, respectively,higher than the predicted average growth of 6 percent in Asia-Pacific.
Apart from challenges caused by theglobal economic slowdown, Vietnam will have to suffer from pressure in foreigndirect investment (FDI) attraction as China’s Foreign Investment Law is set tohelp raise the country’s competitiveness in this field, he warned.
Given this, the PM asked ministries andlocalities to take measures in order to step up foreign investment attraction,thus creating resources for national economic development.
At the meeting, PM Phuc also mentioned Africanswine fever which has been reported in 23 cities and provinces nationwide,along with climate change and drought in the Central Highlands and theSouthwestern regions, affecting domestic production.
He urged ministries, agencies andsectors to uphold their responsibility and overcome these challenges to fulfillthe yearly targets, saying the greatest efforts should be made to ensure theeconomic growth target and comprehensively address social issues, especially inculture and education.
The government leader underlined theneed to handle bottlenecks hindering the country’s economic growth, especially thelow disbursement of public investment.
Given the disbursement of capitalsourced from the state budget dropping 30 percent year-on-year, PM Phuc askedthe Minister of Planning and Investment and other relevant ministries andagencies to clarify the problem and take strong solutions to accelerate thedisbursement in April.
Mentioning the credit growth rate ofonly 2.38 percent as compared with the yearly target of about 14 percent, thePM asked the State Bank of Vietnam toemploy measures to support production.
In the sphere of environmentalprotection, he requested the Ministry of Natural Resources and Environment andlocalities to work harder to encourage the public to reduce the use of plasticproducts, helping to handle plastic waste, especially along Vietnamese beaches.
Regarding the recently-announcedprovincial competitiveness index, the PM asked localities to pay more attentionto such issues as transparency, personnel training quality, corporate supportand administrative reforms in land, tax and customs.
PM Phuc also pointed out many socialissues of public concern, which, he said, must be addressed soon andcompletely.
Cabinet members discussed some reports,including those regarding administrative reforms in the first three months of2019, and the Government’s programme on law and ordinance building, amongothers.-VNA
Chairing a monthly Cabinet meeting inHanoi on April 2, PM Phuc said the GDP growth was estimated at 6.79 percent,while the macro economy was stablised and the foreign currency reserve has beenon the rise.
The inflow of foreign investmentincreased by nearly 31 percent, with 4.12 billion USD disbursed, and totalrevenue from retail sales and services rose 12 percent, he added.
During the reviewed period, Vietnam’s exportscontinued to expand amidst the global economic slowdown, helping the country toenjoy a trade plus of 536 million USD in the first three months of 2019, PMPhuc said.
The government leader highlighted thepromising outcomes in budget collection, reaching almost 27 percent of theestimates, and establishment of new businesses, with more than 28,400enterprises set up, along with low unemployment rate.
Although the global economy is predictedto slow down this year, international organisations still have a positiveoutlook on Vietnam, he said, citing the growth forecast by the AsianDevelopment Bank (ADB) and the World Bank (WB) at 6.8 percent and 6.6 percent, respectively,higher than the predicted average growth of 6 percent in Asia-Pacific.
Apart from challenges caused by theglobal economic slowdown, Vietnam will have to suffer from pressure in foreigndirect investment (FDI) attraction as China’s Foreign Investment Law is set tohelp raise the country’s competitiveness in this field, he warned.
Given this, the PM asked ministries andlocalities to take measures in order to step up foreign investment attraction,thus creating resources for national economic development.
At the meeting, PM Phuc also mentioned Africanswine fever which has been reported in 23 cities and provinces nationwide,along with climate change and drought in the Central Highlands and theSouthwestern regions, affecting domestic production.
He urged ministries, agencies andsectors to uphold their responsibility and overcome these challenges to fulfillthe yearly targets, saying the greatest efforts should be made to ensure theeconomic growth target and comprehensively address social issues, especially inculture and education.
The government leader underlined theneed to handle bottlenecks hindering the country’s economic growth, especially thelow disbursement of public investment.
Given the disbursement of capitalsourced from the state budget dropping 30 percent year-on-year, PM Phuc askedthe Minister of Planning and Investment and other relevant ministries andagencies to clarify the problem and take strong solutions to accelerate thedisbursement in April.
Mentioning the credit growth rate ofonly 2.38 percent as compared with the yearly target of about 14 percent, thePM asked the State Bank of Vietnam toemploy measures to support production.
In the sphere of environmentalprotection, he requested the Ministry of Natural Resources and Environment andlocalities to work harder to encourage the public to reduce the use of plasticproducts, helping to handle plastic waste, especially along Vietnamese beaches.
Regarding the recently-announcedprovincial competitiveness index, the PM asked localities to pay more attentionto such issues as transparency, personnel training quality, corporate supportand administrative reforms in land, tax and customs.
PM Phuc also pointed out many socialissues of public concern, which, he said, must be addressed soon andcompletely.
Cabinet members discussed some reports,including those regarding administrative reforms in the first three months of2019, and the Government’s programme on law and ordinance building, amongothers.-VNA
VNA
