Gov’t issues Resolution 01 on key socio-economic development plan

The Resolution targets to stabilize the macro-economy; control inflation; control inflation; raise productivity, quality, efficiency and self-reliance and competitive of the economy; improve the investment and business environment; promote economic growth; make more practical  changes in strategic breakthroughs; restructure the economy in combination with growth modal transformation; promote innovation, scientific and technological application; make full use of the fourth Industrial Revolution. The Resolution also aims to develop healthcare, education, training, culture, society; ensure social security; improve material and spiritual lives for people; tighten management of natural resources; prevent natural disasters; respond to climate change; boost administrative reforms; streamline the number of public servants; prevent corruption and wastefulness; enhance law enforcement; consolidate national defense; raise diplomatic work and international integration. 

Four key directions

The Government defines that 2019 is the year of discipline, integrity, action, creation, making breakthroughs, and effectiveness with the four following directions.

Firstly, the Resolution targets to raise integral capacity and self-reliance of the economy; consolidate the macro-economy;

Secondly, the Resolution aims to build an apparatus of discipline, action, contribution; perfect institution; raise the quality of law building; tighten disciplines, administrative disciplines; focus on administrative reform; build the e-Government and apparatus organization;

Thirdly, the Resolution centers to develop and harmonize culture, society, and build Vietnamese people in favor of national sustainable development;

Thirdly, the Resolution targets to prepare for Party Congresses at all levels towards the 13th Party Congress; build the 10 year socio-economic development strategy in the 2021-2030 period; the five-year socio-development plan in the 2021-2025 period. 

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Consolidating macro-economic foundation; curbing inflation

The Resolution sets to consolidate macro-economic development; control inflation; and ensure big balances for the economy. 

The Government looks to strive for 6.8% GDP growth rate and keep inflation rate under 4%. 

It targets to restructure State budget; keep a close watch on foreign loans; keep public debt balance at about 61.3% of GDP, Government debt at around 52.2% of GDP, foreign debt of the country under 49% of GDP. State budget overspending would be maintained less than 3.6% of GDP. The Resolution set to boost export turnover by 8-10%; control trade deficit under 2%; raise total retail sale of goods and services by 12%./.

By Kim Anh