Size of Vietnam’s economy expands by 1.3 folds in three years: PM
Prime Minister Nguyen Xuan Phuc on October 22 highlighted the improvements in all aspects of Vietnam since 2016 while reporting on the country’s socio-economic situation this year and the development plan for 2019 to the National Assembly (NA) during its ongoing 6th session.
Prime Minister Nguyen Xuan Phuc delivers a report on Vietnam's socio-economic situation this year and the development plan for 2019 at the opening of the parliament's 6th session on October 22 (Photo: VNA)
Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc onOctober 22 highlighted the improvements in all aspects of Vietnam since 2016while reporting on the country’s socio-economic situation this year and thedevelopment plan for 2019 to the National Assembly (NA) during its ongoing 6th session.
Addressing the opening of the session in Hanoi, theGovernment leader said the country’s gross domestic product (GDP) grew by 6.98 percentin the first nine months of 2018, and the whole year’s figure is expected to behigher than the NA’s target of 6.7 percent. The average GDP growth rate between2016 and 2018 is estimated at 6.57 percent, compared to the target of 6.5 – 7percent for 2016 – 2021.
The expansion of consumer price index (CPI) canbe kept below 4 percent, making 2018 the third straight year the CPI is under 4percent.
He expressed his belief that basing on thoseattainments, all the 12 targets set for this year by the parliament will befulfilled, and eight of them will be surpassed.
The Government leader said from 2016 to 2018, clearimprovements have been recorded in economy, culture, society, environment,defence, security and external relations.
During the period, the size of Vietnam’s economyhas increased by 1.3 folds while the per capita GDP has risen by 440 USD, andpeople’s living standards continually improved, he noted.
He stressed the achievements in all fields havereflected the right and drastic leadership and directions of the Party, theState and authorities at all levels. Efforts by the entire Party, people andarmy have greatly helped with enhancing the trust in society.
However, PM Phuc also admitted certainshortcomings, with subjective factors being the main cause.
Emphasising that there is no room forcomplacency in the remaining time of 2018, he affirmed the resolve to push onwith the set tasks and solutions, keep a close watch on the international anddomestic situation to make timely response, and strongly reform administrativeprocedures to further facilitate production and business activities.
The PM also pledged continued efforts to copewith natural disasters as well as climate change, fight corruption andwastefulness, ensure political security and social order and safety, enhancepublic consensus, and successfully realise the development plan for 2018 so asto create better momentum for the next years.-VNA
Decreasees in labour productivity have deterred Vietnam’s economic growth, especially during 2003-2013. Improving labour productivity is now critical to boost the country’s GDP.
The Central Institute for Economic Management (CIEM) has forecast Vietnam’s economy growth for 2018 may be at 6.88 thanks to positive socio-economic results in the first nine months of this year.
The first three quarters of 2018 have ended with numerous reports on Vietnam’s economic growth. Reports by the Asian Development Bank, World Bank and IMF affirmed the economic target of 6.5 to 6.7%
The sixth session of the 14th National Assembly opened at the National Assembly Hall at 9 am on October 22, with the opening sitting broadcast live on national television and radio.
The sixth session of the 14th National Assembly is of great importance as it will review the country’s performance in the first half of the 2016-2020 tenure, said NA Chairwoman Nguyen Thi Kim Ngan at the opening of the session in Hanoi on October 22.
Stronger efforts and determination are required to achieve and surpass the set targets, especially in the eradication of makeshift and dilapidated houses nationwide, the acceleration of public investment disbursement, and the implementation of nationally important transport projects, PM Pham Minh Chinh noted.
The trip will be made at the invitations of Chinese Premier Li Qiang and WEF President and CEO Børge Brende, according to an announcement from the Ministry of Foreign Affairs.
Long spoke highly of the dynamic, positive, and comprehensive development of Vietnam – Russia relations in recent years. He affirmed that the Vietnamese Party and State place great importance on further strengthening the comprehensive strategic partnership with Russia in a substantive and effective manner, in line with the development needs of both nations.
At the conference, participants reported that the Government has so far issued 28 decrees on the delegation of responsibilities and powers between the central Government and two-tier local administrations. Several localities have already piloted the new governance model.
Reality is the ultimate benchmark for success, he said, urging drafting agencies to work out policies that foster development, reduce bureaucratic hurdles, and respect practical conditions.
Under the official dispatch signed on June 20, ministers, heads of ministerial-level agencies, and chairpersons of provincial and municipal People’s Committees are requested to concentrate efforts on implementing core measures to ensure the smooth operations of the new administrative framework.
The Party chief underscored the need for the press to innovate relentlessly, evolve to keep pace with the country's development, transform into a truly professional, humanistic, and modern sector that serves the cause of the Party, the State, and the people on the path to national construction and development.
The UN Secretary-General praised Vietnam’s remarkable achievements in socio-economic development and international integration in recent years, noting that the country has emerged as a model in implementing the Sustainable Development Goals (SDGs), promoting international peace and security, and engaging in key UN processes.
Nghia affirmed that this is a milestone of special significance, affirming and honouring the the Vietnamese revolutionary press’s glorious tradition of 100 years of serving the revolutionary cause of the Party, serving the Fatherland, and serving the people.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
Prime Minister Nguyen Xuan Phuc delivers a report on Vietnam's socio-economic situation this year and the development plan for 2019 at the opening of the parliament's 6th session on October 22 (Photo: VNA) 
