Vietnam targets stronger economic restructuring in 2017 hinh anh 1Prime Minister Nguyen Xuan Phuc (C) at the teleconference (Source:
Hanoi (VNA) - The draft Resolution of the Government on tasks and measures to implement socio-economic development plan in 2017 will focus on stronger economic restructuring and sustainable growth, said Deputy Prime Minister Vuong Dinh Hue.

Addressing a teleconference between the Government and localities in Hanoi on December 28, Deputy PM Hue said it also focuses on rapid and sustainable economic development, administrative reform, the fight against corruption and wastefulness, and the building of a modern administrative system, serving people and enterprises, he stressed. 

The Government set to achieve GDP growth of 6.7 percent, maintain an average inflation rate at 4 percent in 2017, and ensure the State budget balance, he noted. 

To that end, the draft proposed ten measures, asking ministries and sectors to keep close watch on and promptly update information related to key economic partners of Vietnam in order to devise appropriate policies and reaction, the Deputy PM said. 

The Government has planned bond issuance worth 250 trillion VND (11 billion USD), down 30 trillion VND from 2016, Hue said, adding that the Government bond structure records a positive change as capital sources from banks reduced while those in other financial institutions increased. 

He also emphasised saving the State budget spending, while enhancing the budget discipline, and implementing the disbursement of investment capital from the State budget from early 2017.  

Regarding the improvement of business and investment climate, the Government encourages start-ups and improve the competitiveness of the national economy, Hue stated. 

Attention will be paid to supporting micro-small, and small- and medium-sized enterprises and startup businesses in accessing loans, and promoting creativeness and application of advanced technologies to fully tap chances from fourth industrial revolution.

Projects related to restructuring including public investment, State-owned enterprise reform, credit institution restructuring and bad debt settlement will be approved by relevant agencies in the first quarter of 2017, Hue affirmed. 

A number of ministries were requested to take specific measures to attract investment and develop businesses, and pay heed to fostering intensive processing and production, and trade promotion, and expanding export markets. 

Work concerning climate change adaptation, natural disaster prevention, and natural resources and environmental protection will be also intensified, Hue said. 

The draft Resolution asked ministries, sectors and localities to strictly implement and tighten legal regulations, and improve the efficiency of anti-corruption and wastefulness prevention, and focus on settling serious corruption cases, he added. 

The Deputy PM suggested ministries, sectors and localities take specific action plans in January 2017, and regularly examine the implementation of set plans in odder to give appropriated solutions to arising issues during the implementation process.-VNA