A directive needed to improve Vietnam’s performance in 2019: PM

Prime Minister Nguyen Xuan Phuc wants a plan in place to help local businesses drive the country to fulfil economic targets this year. - Photo VNA/VNS Thong Nhat

The PM has asked for the development and issuance of a Directive to resolve problems for local enterprises to facilitate the economy to achieve growth targets set for 2019.

It will involve the Ministry of Planning and Investment, the Government Office and other agencies, PM Phuc said.

This year, the Ministry of Planning and Investment expects Viet Nam’s gross domestic product (GDP) growth to be 6.6-6.8 per cent, which is lower than the 2018 figure of 7.08 per cent.

Accordingly, growth rates projected for Q2, Q3 and Q4 this year are 6.55-6.77 per cent, 6.89-7.13 per cent, and 6.4-6.7 per cent respectively.

Lower growth forecasts are made because Vietnamese economy faces difficulties in both domestic and international markets.

Phuc urged ministries and sectors to stay sharp and perform better, improving the confidence of the people and business community has in the Government.

He said the first task is to reform the economic institute by resolving issues and improving co-operation.

He urged ministries and government agencies to cut irrelevant fees to help local businesses unload burdens that are currently affecting performance. In addition, all ministries must improve the business climate and national competitiveness.

Conferences should be organised in key economic zones to deal with existing challenges and ministers and provincial governments must speed up their efforts to disburse the public investment budget.

“Stagnant procedures and lack of proactivity have had a negative impact on the socio-economic development. Ministers and people’s committee chairmen must fix this, especially in HCM City and key economic zones,” PM said.

He said the business environment must be improved, barriers must be lifted and local authorities should take responsibility.

Credit growth must be assured to help local businesses, while stronger efforts must be made to fight African swine fever and bring the agricultural exports to the minimum US$43 billion eyed by the Government.

The PM urged the Ministry of Transport to deploy large-scale projects and commit specific schedules, including for the Trung Luong-My Thuan Expressway.

In addition, PM Phuc spoke highly of the media and communication as an instrument to raise the Government’s creditability towards the Vietnamese people and prevent them from getting access to fake news that could hold back the development of the nation and business community.