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2017 – A successful economic year, says Minister of Planning and Investment

VGP – The socio-economic achievements in 2017 generated impetus for the country to enter a new development path in a faster and more effective manner, affirmed Minister of Planning and Investment Nguyen Chi Dung.

January 15, 2018 2:52 PM GMT+7

Minister of Planning and Investment Nguyen Chi Dung

Minister Dung made the point on the threshold of a sectorial conference which took place on January 15 in Ha Noi. 

Minister Dung said that 2017 was one of the most special years as a series of records were set, including 6.81% of GDP growth rate, the highest over the past ten years, over US$ 400 billion of export revenue, nearly US$ 36 billion of FDI, and almost 127,000 newly-founded businesses. 

As a result, 2017 was a successful year of the whole economy. Noticeably, all 13 socio-economic indicators were fulfilled, forging a foundation for Viet Nam to accomplish the preset plan for 2018, the five-year plan for the 2016-2020 period, and the ten-year strategy for the 2011-2020 period. 

In addition, 2017 was the first year for a new development path of Viet Nam in a faster and more effective manner, especially no one was left behind, the Minister stressed. 

The Minister attributed the successful outcomes to the Party leadership. The Party Central Committee timely issued important resolutions on perfection of the socialism-oriented market economy, development of the private economic sector, restructuring, renovation and efficiency of SMEs, and reshuffle of the political apparatus in favor of effective way. 

The Government performed its drastic and effective operation and management , especially the Government leader showed his determination to deal with challenges. 

Minister Dung added that the Ministry of Planning and Investment took the lead in reform; build and supervise three development scenarios; compose Resolution 01 and monthly and quarterly reports, make important contribution to the fulfillment of all socio-economic development norms. 

In 2018, the domestic economy will still  cope with mountains of challenges while the global economy is forecast to continue evolving unexpectedly with the emergence of protectionism. 

In the long term, the Vietnamese economy would face with challenges including being left behind, medium-income traps, and wider development growth with other countries, climate change and environment, international integration, and the fourth industrial revolution. 

According to the Ministry, these challenges are large but also bring about opportunities. 

Mr. Dung highlighted that in 2018, the Government will follow a ten-word motto “Discipline, integrity, action, creativity, and efficiency” to stabilize the macro-economy; build self-reliance economy; and overcome challenges./.

By Kim Anh