Size of Vietnam’s economy expands by 1.3 folds in three years: PM

Prime Minister Nguyen Xuan Phuc on October 22 highlighted the improvements in all aspects of Vietnam since 2016 while reporting on the country’s socio-economic situation this year and the development plan for 2019 to the National Assembly (NA) during its ongoing 6th session.
Size of Vietnam’s economy expands by 1.3 folds in three years: PM ảnh 1Prime Minister Nguyen Xuan Phuc delivers a report on Vietnam's socio-economic situation this year and the development plan for 2019 at the opening of the parliament's 6th session on October 22 (Photo: VNA)

Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc onOctober 22 highlighted the improvements in all aspects of Vietnam since 2016while reporting on the country’s socio-economic situation this year and thedevelopment plan for 2019 to the National Assembly (NA) during its ongoing 6th session.

Addressing the opening of the session in Hanoi, theGovernment leader said the country’s gross domestic product (GDP) grew by 6.98 percentin the first nine months of 2018, and the whole year’s figure is expected to behigher than the NA’s target of 6.7 percent. The average GDP growth rate between2016 and 2018 is estimated at 6.57 percent, compared to the target of 6.5 – 7percent for 2016 – 2021.

The expansion of consumer price index (CPI) canbe kept below 4 percent, making 2018 the third straight year the CPI is under 4percent.

He expressed his belief that basing on thoseattainments, all the 12 targets set for this year by the parliament will befulfilled, and eight of them will be surpassed.

The Government leader said from 2016 to 2018, clearimprovements have been recorded in economy, culture, society, environment,defence, security and external relations.

During the period, the size of Vietnam’s economyhas increased by 1.3 folds while the per capita GDP has risen by 440 USD, andpeople’s living standards continually improved, he noted.

He stressed the achievements in all fields havereflected the right and drastic leadership and directions of the Party, theState and authorities at all levels. Efforts by the entire Party, people andarmy have greatly helped with enhancing the trust in society.

However, PM Phuc also admitted certainshortcomings, with subjective factors being the main cause.

Emphasising that there is no room forcomplacency in the remaining time of 2018, he affirmed the resolve to push onwith the set tasks and solutions, keep a close watch on the international anddomestic situation to make timely response, and strongly reform administrativeprocedures to further facilitate production and business activities.

The PM also pledged continued efforts to copewith natural disasters as well as climate change, fight corruption andwastefulness, ensure political security and social order and safety, enhancepublic consensus, and successfully realise the development plan for 2018 so asto create better momentum for the next years.-VNA
VNA

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