Party General Secretary and President Nguyen Phu Trong (fourth from right), Chairwoman of the National Assembly Nguyen Thi Kim Ngan (third from right), and Prime Minister Nguyen Xuan Phuc (fourth from left) at the conference (Photo: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc chairs a two-day government-to-localityteleconference, which opened in Hanoi on December 30, to review Vietnam’s socio-economic development in 2019and map out plans for 2020.
The event alsosaw the presence of Party GeneralSecretary and President Nguyen Phu Trong and Chairwoman of the NationalAssembly Nguyen Thi Kim Ngan.
In his openingremarks, PM Phuc said this year is the second year in a row that Vietnam has accomplished all 12 majorgoals for socio-economic development and even surpassed five of the goals.
He askedministries and localities to discuss action plans for 2020 which should focuson how to achiever higher targets next year, further removebarriers to improve business climate, identify new growth engine for 2020 andthe following years and what needs to be done to effectively foster decentralizationand local self-governance.
Delegates are scheduled to discuss 2019 socio-economic growth report, theimplementation of the Government’s Resolutions No.1/NQ-CP and No.2/NQ-CP, areview report on the government’s leadership and management, and draftresolutions on major tasks and solutions for socio-economic development and State budgetestimate for 2020 and on improving business environment and nationalcompetitiveness next year.
Deputy PMTruong Hoa Binh said this year’s GDP growth was at 7.02 percent, among thefastest in the region and the world and exceeding the target of 6.6 – 6.8 percent set by the NA.
Inflation was wellcontained – at 2.79 percent – a three-year low. Foreign reserve hit about 79billion USD and the total State budget collection exceeded 1,400 trillion VND (60.7 billion USD) with overspending estimated at about 3.44 percent of the GDP.Public debt declined to 56.1 percent of GDP.
The country’stotal social development investment made up 33.9 percent of the GDP with the non-State sector’s investment expanding to 46 percent.
Despite theglobal economic downturn, the country enjoyed a record high of 517 billion USDin foreign trade, with exports growing by 8.1 percent, and gained a tradesurplus of over 9.9 billion USD for the fourth year in a row./.
VNA
