Politics

Substantial measures needed to achieve highest possible economic growth: PM

Prime Minister Nguyen Xuan Phuc has urged Government members to find substantial economic stimulus measures to achieve the highest possible economic growth rate this year.
Substantial measures needed to achieve highest possible economic growth: PM ảnh 1Prime Minister Nguyen Xuan Phuc speaks at the regular Government meeting on September 4 (Source: VNA)

Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has urged Governmentmembers to find substantial economic stimulus measures to achieve the highestpossible economic growth rate this year.

Chairing a regular Government meeting onSeptember 4 to assess the socio-economic development situation in August andthe first eight months of 2020, PM Phuc said that last month, a new wave of theCOVID-19 pandemic spread to 15 provinces and cities nationwide.

However, thanks to drastic and synchronousmeasures, the disease has been basically put under control again and thecountry’s development pace has been maintained, he said.

According to him, amid the COVID-19 outbreak,the macro-economy remains stable and the monetary policy has well servedmacro-economic stability. Foreign exchange reserves now reach 92 billion USDand are expected to top 100 billion USD this year. August’s CPI increased by0.07 percent. Agriculture continues to be a pillar assisting the economy and isstriving for a growth rate of 2.6-2.8 percent in 2020. Vietnam also enjoyed atrade surplus of 11.9 billion USD during January-August.

Public investment disbursement has improvedclearly, and many localities are determined to disburse all public investmentsthis year. The total volume of FDI registered in the period reached 19.5billion USD.

The prestige and position of Vietnam wasconsolidated in the international arena in the “new normal” context, Phucstated.

The Government leader asked Governmentmembers and localities to focus on how to address problems in industrialproduction, trade and services, particularly in tourism and consumption.

Production and business activities stillface many difficulties, especially for small- and medium-sized enterprises,Phuc noted, adding that the risk of unemployment in urban areas remainsalarming and natural disasters and climate change continue developingcomplicatedly.

He asked for ideas to perfect policiessupporting production and business for all economic sectors, labourers, andboth domestic and overseas investment activities.

It is necessary to carry out strongeradministrative reform to free up capital resources to motivate development, hestressed.

Emphasising the determination to continueworking on the dual targets of disease prevention and economic development, theGovernment leader highlighted the need for more measures to stimulate economicgrowth in both demand and supply./.
VNA
#Prime Minister Nguyen Xuan Phuc #Government members #substantial economic stimulus measures #highest possible economic growth #COVID-19 #Vietnam #Vietnamplus #Vietnam News Agency
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