Prime Minister Nguyen Xuan Phuc speaks at the forum (Photo: VNA) Hanoi (VNA) – Prime MinisterNguyen Xuan Phuc emphasised Vietnam’s aspiration to develop a strong economy inhis speech at a plenary session of the Vietnam Reform and Development Forum(VRDF) 2019 in Hanoi on September 19.
Speaking to policy makers, development partnersand domestic and foreign experts at the forum, the PM underlined that over thepast 30 years of reform, Vietnam’s economy has achieved high growth, which isthe foundation for the country to bring the poverty rate from a high level ofover 53 percent in 1992 down to a mere 5.23 percent in 2018.
The middle class has expanded, accounting formore than 15 percent of the population, and is still growing rapidly.
At the same time, the PM agreed withinternational experts’ assessment about limitations, shortcomings and hiddenrisks of the Vietnamese economy. Vietnam's resilience and adaptation to externalimpacts remain weak and its capacity to access the digital economy is stilllimited.
Recently, the gross domestic product (GDP)growth has been sluggish while the risk of falling into the middle income trapand falling behind remains high, he said.
In 2018, Vietnam ranked third in the Associationof Southeast Asian Nations (ASEAN) in terms of population but only sixth ineconomic size. The country’s participation in the global value chains remainslimited, the PM added.
Vietnam hopes for active support from theinternational community to address the aforesaid restrictions, he said.
He went on to say that Vietnam is working on adevelopment strategy for 2021-2030 amid unpredictable global developments,especially trade war, protectionism, and climate change.
In such context, Vietnam needs to maintain apeaceful environment along with political and social stability for rapid andsustainable development, he said.
Prime Minister Nguyen Xuan Phuc in a group photo with participants at the forum (Photo: VNA) According to the government leader, the country has been implementing threestrategic breakthroughs which are improving the institutional system,developing the infrastructure network, and promoting human resources.
He stressed that Vietnam aims to develop adynamic and creative private sector, and making businesses the centre and themomentum of development.
He affirmed that Vietnam will continuously makestronger investment in education as well as build an independent, self-reliantand highly adaptable economy, and implement sustainable development goals 2030to bring prosperity for people with no one left behind.
At the same time, Vietnam will focus on expanding external relations andinternational integration while implementing effectively the signed free tradeagreements and joining global value chains, he said.
He highly appreciated experts’ constructiveopinions and policy ideas to improve the institutional system in Vietnam,saying these recommendations will help the country better its policy making.
The VRDF this year was organised earlier thanthe previous year’s event with the aim of collecting opinions from domestic andinternational experts for the building of a socio-economic development strategyin 2021-2030, as well as orientations and tasks for the five-year socio-economicdevelopment plan in 2021-2025, which will be submitted to the 11th meeting ofthe 12th Party Central Committee in October this year.
The topics for discussion at the VRDF 2019 willbe more inclusive, covering the reform of the market economy institution, innovationto overcome the middle income trap in the era of Industry 4.0, and prioritiesand actions to build a prosperous Vietnam./.
He stressed that Vietnam aims to develop adynamic and creative private sector, and making businesses the centre and themomentum of development.
He affirmed that Vietnam will continuously makestronger investment in education as well as build an independent, self-reliantand highly adaptable economy, and implement sustainable development goals 2030to bring prosperity for people with no one left behind.
At the same time, Vietnam will focus on expanding external relations andinternational integration while implementing effectively the signed free tradeagreements and joining global value chains, he said.
He highly appreciated experts’ constructiveopinions and policy ideas to improve the institutional system in Vietnam,saying these recommendations will help the country better its policy making.
The VRDF this year was organised earlier thanthe previous year’s event with the aim of collecting opinions from domestic andinternational experts for the building of a socio-economic development strategyin 2021-2030, as well as orientations and tasks for the five-year socio-economicdevelopment plan in 2021-2025, which will be submitted to the 11th meeting ofthe 12th Party Central Committee in October this year.
The topics for discussion at the VRDF 2019 willbe more inclusive, covering the reform of the market economy institution, innovationto overcome the middle income trap in the era of Industry 4.0, and prioritiesand actions to build a prosperous Vietnam./.
VNA
