Vietnam sees a positively socio-economic growth in first 6 months of 2018 - Vietnam sees a positively socio-economic growth in first 6 months of 2018 - Website Ho Chi Minh City
July 2, Prime Minister Nguyen Xuan Phuc and Vice Prime Ministers including Truong Hoa Binh, Trinh Dinh Dung, Vu Duc Dam co-chaired a video conference evaluating socio-economic situations in the first 6 months of 2018 and deploying tasks for the rest 6 months.
Attending the conference included Politburo Member, Secretary of Party Central Committee and Head of Central Organization Commission Pham Minh Chinh; Politburo member, Secretary of Party Central Committee, Head of Party Central Committee’s Commission of Economic Affairs Nguyen Van Binh; Secretary of Party Central Committee, President of Vietnam Fatherland Front Central Committee Chan Van Man; Secretary of Party Central Committee, Chief Judge of the Supreme People’s Court Nguyen Hoa Binh; Politburo Member, Vice President Dang Thi Ngoc Thinh and representatives of Central Ministries, Departments; leaders of 64 provinces and cities.
In HCMC, Politburo Member, Deputy Secretary and Chairman of HCMC People’s Committee Nguyen Thanh Phong and Standing Deputy Chairman Le Thanh Liem together with representatives of departments and agencies attended the video conference.
In his opening speech, Prime Minister Nguyen Xuan Phuc said socio-economic growth in the first 6 months of 2018 is very positive in many fields. GDP in the first 6 months of 2018 achieves an estimated increase of 7.08%. The sectors of agriculture, trade-service and industry enjoy steady growth, amongst agriculture reaches the highest increase. Total social investment capital increased by 10.1% compared to the same period, 32.9%. FDI attraction and number of newly established enterprises keep growing, State’s budget revenue rose by 14%, export value rose by 16%, trade surplus of US$ 2.7 billion, over 20 export items reached more than US$ 1 billion, many new products are exported to foreign markets in the first 6 months of 2018.
Vietnam continues to show good results in external economic affairs including the signed FTA in the first 6 months of 2018 such as CPTPP, EU-Vietnam, etc. At the same time, Vietnam has done a good job in ensuring social security with living standards of people much improved, number of poor households reduced by nearly 40%.
According to Mr. Nguyen Xuan Phuc, despite of complex changes of domestic and international situations in the first 6 months of 2018, but, the ceaseless efforts of ministries, departments and agencies have resulted in positive changes, creating exciting business environment, building trust with investors and people. Business and investment environment have been much improved, localities have been very active in making contributions to the common development of the whole country.
Mr. Phuc noted some challenges including natural disasters; order and security; traffic safety, children abuse, school violence, food safety, corruption, etc. He said that the violent protest in Binh Thuan early June is a precious lesson for localities in the process of ensuring security for local citizens.
According to Mr. Nguyen Xuan Phuc, Vietnam economy is put under pressure of inflation in the last 6 months of 2018. Local ministries, departments and agencies need to work out solutions to control inflation and maintain macro-economic stability. The delay in disbursement of investment capital (33% of year plan) needs to be carefully considered to find solutions to speed up the progress of capital disbursement. It is necessary to remove difficulties to promote economic growth in the last 6 months of 2018. Besides, Vietnam needs to improve business and investment environment and ensure traffic safety and control disease.