Vietnam targets ASEAN-4 ranking in business environment

Conference between the Government and localities, December 28, 2018 (Photo: VNA)

Hanoi (VNA) - In 2018, Vietnsm continued to achieve many positive and overall results in socio-economic development with 12 targets completed, of which four targets exceeded the National Assembly’s set targets.

Notably, for the first time in ten years, the economy surpassed the growth rate of 0.38 percentage points, from 6.7% to 7.08% in 2018.

The information was given by the Government leaders at the online government conference with localities on December 28.

Strategy on industrial revolution 4.0 to be issued

According to Deputy Prime Minister Pham Binh Minh, on January 1, 2018, the Government issued Resolution No. 01/NQ-CP on key tasks and solutions to implement the Socio-Economic Development and State budget plan for 2018 with nine key solutions, 59 solutions and 242 specific tasks.

Besides, the Government has proactively built scenarios, indicators and growth solutions for industries and areas; regularly monitored, evaluated and identified opportunities and challenges to have appropriate and timely policies and solutions.

Deputy Prime Minister Pham Binh Minh said: “Synchronous operation of macro policies together with prudent and flexible fiscal policies have contributed to strengthening macroeconomics and controlling inflation according to the target."

"We achieved fruitful results when GDP in 2018 reached 7.08%. It was the second year in a row that we surpassed and met all 12 targets set by the National Assembly.”

From the 2018 results, Deputy Prime Minister Vuong Dinh Hue said, base on 12 goals which the National Assembly assigned to the Government in 2019, Resolution 01 is expected to accomplish all the goals with a “nearly high” level.

Specifically, GDP growth reaches about 6.8 percent, CPI growth is below four percent and total social development investment capital compared to GDP is 34 percent. Besides, the growth rate of export turnover hits from eight to 10 percent, the trade deficit rate is lower than two percent.

In order to achieve the overall goal, Deputy Prime Minister Vuong Dinh Hue said, key tasks and socio-economic goals set by the National Assembly, the draft Resolution set out eight groups of tasks and focused solutions with 45 tasks, solutions and 188 specific tasks.

In which there are noticeable solutions such as credit growth coupled with restructuring and improving credit quality, focusing credit for manufacturing sectors, especially priority areas.

Deputy Prime Minister Vuong Dinh Hue also emphasized the use of capital which is outside the investment budget for synchronous development of infrastructure system while accelerating the implementation of national important infrastructure projects in the field of transport, electricity and energy.

"The Government will issue a National Strategy on the 4th industrial revolution in order to encourage technology transfer, develop new technologies and build a national innovation center to support research and development, " Deputy Prime Minister Vuong Dinh Hue added.

Overcoming non-synchronisation

Citing data of the Vietnam Chamber of Commerce and Industry on 11 key indicators of 10,000 enterprises,  Deputy Prime Minister Vu Duc Dam said “ there are six out of 11 targets,  or 50 percent, were rated good and very good by businesses.”

However, there are still five out of 11 targets that are poor and need to be improved, such as corporate bankruptcy, investor protection, import and export procedures.

“Many independent experts have highly evaluated our general policy but the implementation at lower levels has not been well implemented”, the Deputy Prime Minister said.

With the spirit of making breakthrough in 2019, and stepping into the 4.0 industrial revolution and ready for future production, Deputy Prime Minister Vu Duc Dam said, the draft Resolution 02 persists in the goal of reaching top 4 in ASEAN to reduce costs for enterprises and people.

“A new point in the draft Resolution 02 is to promote innovation with a focus on enterprises, encourage research institutes, universities, especially being initiative  in mastering imported technology while participating in the development of technology,” Deputy Prime Minister Vu Duc Dam stressed./.