In the government’s monthly press briefing in Hanoi on August 28, Minister and head of the Government Office Nguyen Van Nen informed the media that the cabinet worked to ease bureaucratic delays, in an effort to create a better business environment for investors.

In August 2014 and eight months this year, the economy is on the road to recovery, with an estimated growth rate of 5.54 percent for the year’s first three quarters.

For the last quarter, Prime Minister Nguyen Tan Dung has demanded maximum efforts to achieve an annual economic growth of 5.8 percent for 2014, Nen said, promising that the economic restructuring will be more drastic, with focus on restructuring public investment, state-owned enterprises, commercial banks and agriculture.

Progress has already been made towards restructuring public investment, but efforts need to continue if inefficiency is to be avoided. Nen said the leader also pushed for a radical and strict approach to reshuffling ineffective SOEs and banks.

Looking to socio-economic performance in 2015, the PM set a target of 6.2 percent economic growth, and around 5 percent for inflation and the budget deficit.

In order to realise these objectives, cabinet members proposed developing the processing, support and mechanical industries further and boosting high tech farming, as well as attracting more investments.-VNA