Scene at the session (Photo: VNA)
Hanoi (VNA) – Prime Minister Nguyen Xuan Phucand his economic advisory team discussed measures to tackle shortcomings andrealise the 7-percent growth target set for 2019 at a session in Hanoi onDecember 22.
According to the team, the potential of the Vietnameseeconomy remains extensive, with new opportunities emerging. With suitablesolutions to optimize the chances and better tap the potential, growth momentumcan be sustained in the next two years.
They presented three growth scenarios, which project averageannual growth rates for 2018 – 2020, at 6.86 percent, 6.91 percent, and 7.06percent, respectively.
The advisors said in 2019, the economy could grow 6.9 – 7percent, with inflation rate kept under 4 percent. Towards those goals, theysaid the processing-manufacturing and services sectors must achieve a highergrowth than in 2018 and must be considered the two main drivers of the economy.More drastic measures are also needed to promote the development of the privatesector.
They calculated that private sector investment must accountfor 15 percent of the GDP in order to achieve the 2019 growth target, addingthat the sector boasts untapped potential and the Government should focus moreon fostering its development.
The team recommended the Government give priority to theimplementation of policies and measures designed to address four mainbottlenecks – which are the implementation of big-scale projects, breakthroughof the private sector, investment into agriculture, and mobilization of socialresources.
Pressure should be put on ministries, sectors, andlocalities in the implementation of the tasks they have been assigned with,they said, adding that a set of standards to assess their performances shouldbe built and regularly monitored by a Government working group.
Looking at significant changes ahead, the experts said it ispossible to achieve both high growth and macroeconomic stability.
Taking into account the recommendations, PM Phuc agreed withtheir proposal on the application of the 5G technology and assigned theMinistry of Information and Communications to work on the task.
He asked the advisory team to work with Singapore inbuilding an innovation centre following the Singaporean model.
The PM directed the Ministry of Planning and Investment toselect suitable recommendations to be included in drafts of the Government’sResolution No 1 on management measures for 2019 and Resolution No 2 on competivenessimprovement.
The Government leader lauded the team’s collaboration withrelevant agencies to research an economic growth model for 2021 – 2030. Heasked the experts to give feedback on the draft strategy on socio-economicdevelopment for 2021 – 2030 and the socio-economic development plan for 2021 –2025.
He requested the advisors to gather more scientists andeconomic experts to make recommendations to the Government and himself duringthe preparation of documents for the Party’s 13th congress.
Underscoring his willingness to listen to advises, the PMsuggested the group continue monitoring the Government’s policies andcollaborating with ministers, sectors and businesses for promptproposals.-VNA
