Cabinet convenes November meeting
09:01 | 01/12/2017

VGP – The Government convened its November regular meeting on December 1 under the chair of PM Nguyen Xuan Phuc, during which the Cabinet will discuss the socio-economic situation in November and in the first 11 months of the year.

Photo: VGP/ Quang Hieu

The members will also debate on an action plan to implement the resolutions adopted at the sixth plenum of the 12th Party Central Committee, alongside the amendments and supplements to the laws related to land, construction, housing, environment, specialized inspection and planning.

Furthermore, the Government will look into reports proposing the building of laws and ordinances, review the five-year implementation of the human resource development strategy and plan during 2011-2020, and discuss the public investment restructuring project. 

The meeting took place when 2017, a year full of difficulties and challenges, has one month left. In November alone, Viet Nam was struck by two strong storms, Damrey and Kirogi. However, the socio-economic situation has still registered multiple positive results so far this year, with all the 13 criteria set by the National Assembly having been reached and surpassed.

Among the country’s notable external events in the past month was the thorough preparation and successful organization of the APEC Year 2017, especially the APEC Economic Leaders’ Week that took place in Da Nang from November 5 to 11.

Some of major indicators in the first 11 months of 2017. Source: The Ministry of Planning and Investment.

As reported by the Ministry of Planning and Investment, Viet Nam’s macro-economy has remained stable, with inflation kept under control. The consumer price index (CPI) in November was slightly up 0.13% over the previous month, leading the average 11-month CPI to rise 3.61% year on year. The Jan-Nov core inflation grew 1.42% compared to the same period last year.

Industrial production continued to make breakthrough, with the 11-month Industrial Production Index growing 9.3% year on year, much higher than the 7.4% growth level of the same period last year. The service sector recovered strongly, with the total commodity retail and consumer service revenues during the period increasing by 10.7% from a year earlier. International arrivals to Viet Nam in the first 11 months of 2017 reached 11.65 million, representing a year-on-year rise of 27.8%.

Between January and November, foreign direct investment (FDI) in Viet Nam reached US$33.09 billion, up 53.4% annually. The country’s export turnover hit over US$193 billion, resulting in a trade surplus of US$2.8 billion.

After 11 months, 116,000 new businesses were established with the total registered capital growing 41.9% compared to the same period of 2016, while more than 24,000 companies resumed their operations.

Positive changes were also seen in the fields of culture, society, environment, national defence, security and foreign affairs.

In addition to the positive results, there remained certain shortcomings and difficulties. In November, storms and heavy rains caused huge losses  of life and property, especially in the Central and Central Highlands provinces. Business production activities were still faced by difficulties, along with a number of pressing social issues, such as child violence, environmental pollution and traffic accidents.

By Vien Nhu

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