PM urges greater efforts to complete yearly targets

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Prime Minister Nguyen Xuan Phuc speaks at the Cabinet meeting.

Speaking at the Government’s regular meeting, PM Phuc informed Cabinet members about the country’s socio-economic achievements in the January-September period, with gross domestic product (GDP) expanding 6.98 percent – the highest level over the past nine years.

Total investment in society increased 1.3 percent, especially in the non-State and private sectors, he said, adding that the amount of disbursed foreign direct investment (FDI) reached a record of some 14.22 billion USD.

According to the leader, state budget collection rose 10.3 percent year-on-year. Meanwhile, the country’s trade surplus was estimated at nearly 6 billion USD, the highest-ever number.

The processing and manufacturing industry continued to drive the national economy with a rise of 11.37 percent, PM Phuc said, noting that despite adverse impacts of the African swine fever and climate change, along with the restructuring process, the agricultural sector still grew 1.2 percent.

It is noteworthy that the number of newly-established enterprises stood at the record high of 102,000, PM Phuc said.

Marked achievements were also recorded in consumer services, tourism, culture, social affairs, national defence and security, and external relations, the leader added.

The country expects to fulfill all 12 major targets for the second consecutive year in 2019, including five goals exceeded, he stressed.

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 in 2019, PM Phuc said.

Such achievements are attributable to joint efforts by the entire political system, administrations at all levels, sectors and the business community, he affirmed.

The PM, however, pointed out limitations such as the slow disbursement of public investment, which has completed only 45.1 percent of the target set by the National Assembly.

Other problems included national disasters, diseases, especially the African swine fever, the increasing number of dissolved enterprises and a reduction in registered FDI.

Given environmental pollution in Ho Chi Minh City and Hanoi, PM Phuc asked ministers, heads of agencies and leaders of the two cities to seek specific solutions to the issue.

At the meeting, the Ministry of Planning and Investment reported that the consumer price index (CPI) in September rose 0.32 percent over the previous month. The figure stood at 2.5 percent in the first nine months of this year.

In the reviewed period, the service sector maintained its growth pace at about 6.85 percent, contributing 42.6 percent to the national growth, with the lion share made by the wholesale and retail sector.

Vietnam also welcomed nearly 13 million foreign tourists, up some 11 percent against the corresponding time last year.

At the meeting, Cabinet members are scheduled to deliberate investment capital allocation under the 2019 plan, the Government’s draft resolution on capital disbursement acceleration, the implementation of the public investment plan in 2019 and public investment plan for 2020 and preparations for the eighth meeting of the 14th National Assembly, among others.