PM highlights importance of continuing business environment improvement

PM Nguyen Xuan Phuc chairs the regular monthly meeting, Ha Noi, April 2, 2019 - Photo: VGP/Quang Hieu

Regarding the socio-economic development in the first quarter of 2019, the PM highlighted the positive achievements such as the GDP growth of 6.79%, total retail sales and service revenue up 12% and the Foreign Direct Investment (FDI) flows setting a new record with share purchase and contributions of foreign investors reaching nearly US$6 billion, three times higher than the same period in 2018. 

The Government leader figured out risks and challenges in the second quarter of the year, including the global economic slowdown, unclear prospects in the US-China trade negotiations and complex and uncertain Brexit process, asking to maintain the inflation rate not exceeding 4% as committed at the National Assembly. 

The PM required speeding up disbursement of public investment capital, requesting ministers to highlight their responsibilities in disbursing public investment capital. 

He asked the Ministry of Education and Training to enhance State management and soon end school violence and other violations.  

Mr. Phuc proposed strictly implementing Directive No.09 on measures focusing on tackling obstacles for production, ensuring the economic growth for the second half of the year and the whole year. 

The Ministry of Industry and Trade continues following, updating and assessing impacts of the international issues, particularly trade tensions as well as launching measures to take advantages of free trade agreements. 

Removing difficulties and promoting production and exports of agricultural-forestry-aquaculture products was one of six measures suggested by the PM to boost economic growth in this year. 

He requested taking opportunities brought by the Comprehensive and Progressive Trans-Pacific Partnership, diversifying market, accelerating exports and reducing trade deficit.  

He stressed the necessity to enhance the development of the processing and manufacturing industry and promote service sector, especially retail sales, logistics, tourism, information technology, finance and banking. 

Accelerating the disbursement of public investment and monitoring monetary and credit policies flexibly were also among top priorities set for the year.  

Ministries, agencies and localities must speed up the progress of e-government building, establish a legal framework orienting to support businesses in applying achievements of the Industry 4.0, particularly ones related to virtual assets and money. 

By Thuy Dung