Vietnam to take bold measures to realise 2018 economic goals

Tuesday, 2018-01-09 17:32:20
 Font Size:     |        Print

Illustrative image.
 Font Size:     |  

NDO – The Government issued Resolution 01/NQ-CP, dated January 1, 2018, on the major tasks and solutions guiding the implementation of the socio-economic development plan and State budget estimates for 2018.

Accordingly, the Government has set nine groups of tasks and solutions, including 242 specific tasks assigned to the ministries, departments and agencies at central and local levels, with the motto of “Discipline, Integrity, Action, Creativity, Effectiveness” with a focus on ensuring macroeconomic stability, creating a visible change in implementing three strategic breakthroughs, economic restructuring tied to economic growth model innovation, improving productivity, quality, efficiency and competitiveness; encourage start-ups and develop businesses and promote economic growth.

The focus will also be on accelerating administrative reforms, strengthening administrative and social disciplines; improving the effectiveness and efficiency of State management; creating visible changes in anti-corruption, thrift practice and wastefulness combat; cultural development and the realisation of social innovation and justice, assurance of social security, the improvement of social welfare and people's lives; protecting the environment, responding to natural disasters and climate change; ensuring national defense and security; and promoting external affairs and international integration.

Economic growth targets are always an important part of the annual development plan. Accordingly, the major targets set out in 2018 include: a gross domestic products (GDP) growth rate of 6.7%, a consumer price index (CPI) increase below 4%, State budget overspending of 3.7% of the GDP, an export turnover increase of 8% - 10%, a trade deficit accounting for less than 3% of exports, the total retail sales of consumer goods and services rising by 10%, total investments for social development accounting for 33-34% of the GDP, 135,000 newly established enterprises, an increase in productivity of over 6%, the contribution of total factor productivity (TFP) to the 2018 GDP at around 46%, 52 districts and 37% of wards to reach new standards of rural development, and welcoming 15 million international visitors. The Government has set a target of reducing the national poverty rate 1 to 1.5% each year based on multi-dimensional poverty criteria and the rate of poor households in poor districts by 4%; and the urban unemployment rate at less than 4%. Vietnam also aims to reach the level of ASEAN 4 countries in terms of business climate and competitiveness.

The targets reflect the appropriate objectives, solutions and tasks set by the National Assembly and the Government for 2018, the important transitional year of the five-year plan 2016-2020. The long-term vision and feasible and synchronous solutions reflect the spirit of the Government of integrity and action, and at the same time have created pressure and require great efforts from all state management agencies at all levels and sectors, as well as the business community and all social strata.

Resolution 01/NQ-CP of 2018 was issued on the first day of the New Year and showcases a clear awareness to seriously prepare and immediately start working on the first day of the New Year. It also expresses the spirit of consistency in the direction and administration of a government created over time.

In recent years, the success of socio-economic development plans of a country or locality has not been easy to obtain and requires a lot of effort from the country itself. It is cannot be sustainable if the tasks and solutions disregard the economic rules. The efficiency and effectiveness of the Government's management are high when there is a good awareness and consensus, a harmonious coordination among all levels, branches and localities and the common efforts of the business community, the people, and the political system.