PM chairs Cabinet meeting to review socio-economic performance

Photo: VGP/Quang Hieu

Three quarters of 2017 has finished, seeing numerous changes made in the Government’s direction and regulation work, generating significant results, with the national economy reporting an impressive growth of 7.46% in the third quarter, mainly buoyed by manufacturing and service sectors, the PM said.

He expressed delights that Viet Nam jumped five places on the World Economic Forum’s annual Global Competitiveness Index and rising to 53.3 points on the Nikkei-announced manufacturing Purchasing Managers’ Index (PMI), the highest within ASEAN.

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Continuous efforts have been made by the entire political system in order to remove obstacles for the people and businesses, the leader said, adding that over 5,000 administrative procedures have already been reduced, with some ministries even cutting down 600-700 procedures.

He also highlighted some positive outcomes in the country’s socio-economic performance in the first three quarters of the year, including the maintenance of macroeconomic stability and major balances of the economy; the inflation and core inflation rates only increasing 1.83% and 1.45%, respectively; budget revenue hiking nearly 14%; credit growing about 12%; the VN-Index on the stock market reaching 800 points, the highest since 2008; the trade deficit reducing by only US$442 million; and nearly 94,000 new businesses established.

Viet Nam attracted US$25.4 billion in foreign direct investment between January and September, up 34.3% year on year, while disbursement volume rose 13.4% to US$12.5 billion, PM Phuc noted. 

Significant outcomes were also recorded across the areas of culture, society, the environment, national defense, security and foreign affairs, he said.

Alongside the positive aspects, the Government leader also pointed out some limitations that needs to be improved, including the slow disbursement of public investment capital as well as the slow progress in equitizing State-owned enterprises (SOEs) and divesting State capital from businesses.

During the meeting, the Government leader asked cabinet members to discuss preparations for the upcoming fourth session of the 14th National Assembly.

                                                                                                                                    By Vien Nhu