Vietnam promotes prosperous growth, sustainable environment
Minister of Planning and Investment Nguyen Chi Dung suggested completing mechanisms to facilitate smooth operation of the market economy, creating equal business environment and pushing the restructuring process in state owned enterprises as solutions to achieve prosperous growth and sustainable environment in Vietnam.
He was speaking at the Vietnam Sustainability Forum 2018 which was held in Hanoi on January 18.
Vietnam should prioritise renovation, develop key economic zones to improve regional economic efficiency while ensuring equality and social integration and taking measures to respond to climate change, he stated.
The Doi Moi (Reform) in the past three decades has created a facelift for the Vietnamese economy, Dung said, given that local livelihoods have been improved and Vietnam has become a middle-income nation.
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Despite regional and global economic challenges, Vietnam enjoyed an impressive economic growth of 6.81% in 2017, higher than the National Assembly’s set target and the highest level ever recorded in ten years.
Thanks to the country’s efforts to shake up the economy, renew growth model and improve the business climate, Vietnam attracted US$35.88 billion in foreign direct investment and its total import-export turnover reached US$425 billion, Dung stressed. He underlined that the nation moved up 14 places to rank 68th among 190 countries in the 15th edition of the World Bank’s Doing Business 2018 Report themed “Reforming to Create Jobs”.
However, economic experts said that daunting challenges for Vietnamese economy include low GDP per capita, total-factor productivity (TFP) falling short of expectations, high risks of middle income trap, and impacts of climate change, the 4th industrial revolution and global economic integration.
Andress Schfeicher, Director for the Directorate of Education and Skills, said that education and skills are important for Vietnam’s sustainable development in the context of strong industrial revolution.
Meanwhile, Caitlin Wiesen, UNDP Country Director for Vietnam suggested that Vietnam draw up solutions to support vulnerable people to ensure that no one is left behind.
