Vietnam has achieved all its economic targets for 2017, but that does not mean it is time for the country to cease its striving for better growth in 2018, Prime Minister Nguyen Xuan Phuc said Thursday.
Based on the achievements of 2017, Vietnam should continue exerting effort to resolve prolonged problems in its reforming and restructuring initiatives, the premier said at an annual meeting in Hanoi.
The two-day teleconference was dedicated to discussing measures to implement the Party and lawmaking National Assembly’s socio-economic resolutions and state budget estimates for next year.
General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong, State President Tran Dai Quang and National Assembly Chairwoman Nguyen Thi Kim Ngan joined PM Phuc in the event, marking the first time all four of the country’s top leaders have attended a government meeting.
PM Phuc underlined that all targets set by the legislature were achieved in 2017, most remarkably beating the 6.7 percent GDP growth target by .11 to reach 6.81 percent, the highest growth rate in a decade.
Other significant achievements include a record high US$51.5 billion in foreign reserves and a $2.7 billion trade surplus.
|Vietnam's Prime Minister Nguyen Xuan Phuc speaks at a teleconference in Hanoi on December 28, 2017. Photo: Vietnam News Agency|
The prime minister reiterated that in 2018 the government should work to reach new targets focused on five principles – discipline, integrity, action, creativity and efficiency.
“In 2018, the government should optimize the growth momentum of 2017 to promote a comprehensive socio-economic development program and boost economic reforms,” the premier said.
Vietnam set targets of 6.7 percent GDP growth and an eight to ten percent increase in export revenue for 2018.
The Southeast Asian country has removed more than 5,000 administrative protocols in 2017 and aims to continue reducing paperwork by 50 percent in 2018.
The government also hopes to support the creation of 135,000 new businesses and cut the number of government positions by 2.5 percent next year.