Vietnam’s economy – a bright spot in volatile world: gov't meeting

Hanoi (VNA) – Removing bottlenecks for local production and business activities must receive top priority so as to promote the economic development, Prime Minister Nguyen Xuan Phuc said at the monthly government meeting on December 2.

Reports from relevant ministries and sectors showed that the Vietnamese economy could expand 2.5-3 percent in 2020, while many international organisations forecast it could grow 2.5-2.8 percent in the year, the PM added.

Amidst complicated developments of the COVID-19 pandemic, Vietnam remains a bright spot in the global economy thanks to its positive economic signs during January-November, including stable macro economy and low inflation rate.

In the 11-month period, trade surplus swelled to a record of 20.1 billion USD, he said, adding 31 groups of commodities joined the over-one-billion-USD club, accounting for 92 percent of the total export revenue.

Disbursement of public capital was pushed ahead, reaching 79.3 percent of the yearly plan and up 34 percent as compared to the same time last year, he said.

PM Phuc laid stress on robust industrial production, which grew 9.2 percent year-on-year, and the upwards trend of trade and service activities in November, with total retail sales of goods and services in the month rising by 8.5 percent.

At the meeting, PM Phuc also recalled the success of the 37th ASEAN Summit and related meetings, including the adoption of record 84 documents and signing of the Regional Comprehensive Economic Partnership (RCEP) that creates a market covering nearly half of the world’s population, or about 2.2 billion people.

Regarding the settlement of consequences of natural disasters and floods, the Government took timely response to emergency cases, and granted nearly 16,000 tonnes of rice and some 1.3 trillion VND to support flood-hit region.

Regarding the recent COVID-19 community infection case, he underlined the need to quarantine, and emphasising the definition of the cause, and strict punishment for violations of COVID-19 prevention rules committed by individuals. He also asked localities nationwide to stay vigilant to prevent the pandemic.

In addition, he asked relevant authorities to ensure safety and success for the upcoming important events in December, such as the second National Congress of Vietnamese Ethnic Minorities, and the 10th National Patriotic Emulation Congress./.