PM hails socio-economic performances over two years

PM Nguyen Xuan Phuc  discusses socio-economic development issues in 2017 and tasks set for 2018 at a discussion within the framework of the 14th National Assembly's 5th working session, Ha Noi, May 22, 2018 - Photo: VGP/Nhat Bac

The PM highlighted the nation’s achievements in socio-economic performances, diplomacy, national defense and security and anti-corruption which have improved the nation’s status in the world and raised people’s belief. 

During the 13rd National Assembly (2011-2016), Viet Nam’s public debt accounted for 64.8-65% of GDP while the public debt at present only makes up 61% of GDP. 

The total GDP is expected to exceed VND7,000 trillion with the economic growth of 6.7%. The nation’s economic scale has jumped from 48^th to 40^th in the world. 

Within two and a half years, Viet Nam’s foreign reserves increased from US$28 billion to US$64 billion. 

The PM expressed his delight at the nation’s national competitiveness and business environment rankings. 

He asked agencies to pay more attention to agriculture and rural development as 42% of laborers are living in rural areas while the agriculture and rural values only contribute 18% of GDP. 

The Government chief proposed the National Assembly and the Government take measures to make drastic improvements in serving the people, and launch economic and administrative reforms. 

By Thuy Dung