Ensuring foundations of growth in the year ahead

MPI held a conference to evaluate its 2017 performance and set new tasks for 2018

The ministry's contributions have been confirmed and lauded at the conference reviewing the operations in 2017 and defining tasks for 2018 held on January 15, 2018. Prime Minister Nguyen Xuan Phuc attended the conference.

Remarkable achievements in 2017

In 2017, MPI institutionalised the strategies and policies of the Party and the government in three fields: reforming the growth model, restructuring the economy (Resolution No.27/NQ-CP), improving the business climate, promoting innovation and creation, and raising national competitiveness (Resolution No.19, 35, 98, 99/NQ-CP), and sustainable development (2030 Agenda for Sustainable Development).

MPI has done its utmost to ensure the availability of resources for economic growth, build up an economic growth plan, forecast trends, develop Resolution No.01/NQ-CP, and publishing monthly socioeconomic reports, as well as carry out the Vietnam 2035 Report.

The ministry has reformed its management and operations along the lines of introducing modern public investment management principles, injecting transparency into online bidding, and professionalising statistics and business registration. Additionally, the ministry also reformed the methods of formulating socioeconomic development and public investment plans and modified the ministerial organisation structure.

MPI has formulated major laws such as the Law on Planning, Law on Supporting Small- and Medium-Sized Enterprises, Law on Special Economic Zones, and amended the Law on Public Investment.

Regarding administrative reforms, MPI proposed removing unnecessary business conditions, simplifying administrative procedures, and reducing costs for firms. They all contributed to the record number of newly established business during the year. MPI led the project to formulate and establish a legal framework for the Committee on Management of State-Owned Capital.

MPI has also strengthened international economic relations, attracted FDI and ODA capital, and chaired major events for the country, such as the APEC Small- and Medium-Sized Enterprises Working Group Meeting, the 22^nd GMS Ministerial Conference, Vietnam Business Forum, and Vietnam Development Forum.

Consensus and solidarity to accomplish 2018 tasks

The government has issued Resolution No.01/NQ-CP on major tasks and solutions guiding the implementation of the 2018 socioeconomic development plan and the state budget estimate.

It was formulated carefully, demonstrating the government’s determination for reform, consensus, and unification, as well as the spirit to take drastic action from the first days of the year. The resolution targets nine major areas, providing 59 specific solutions and 242 detailed tasks for all ministries, branches, and localities.

These are all expected to create breakthroughs in 2018 by stabilising and restructuring the economy and implementing three strategic breakthroughs in order to accomplish the country’s societal, environmental, administrative reform, and anti-corruption goals.

The government’s 2018 slogan is “Discipline-Integrity-Action-Creativity-Effectiveness.”

However, MPI identified that there will be many difficulties and challenges in the year ahead. It is necessary to overcome shortcomings of domestic economy, as well as the difficulties in production and business, and low productivity. Risks of slowing down, the middle-income trap, challenges in international integration, and Industry 4.0 will all be needed to overcome.

MPI’s report emphasised acknowledging the lessons learnt in order to accomplish the tasks in the coming time. It is essential for the whole political system and the society to work in consensus and solidarity to make the best of the times ahead.

Three strategic breakthroughs for socioeconomic development in 2018 The government has just proposed major measures to facilitate socioeconomic development in 2018, including the implementation of three strategic breakthroughs and facilitating the country’s progress in Industry 4.0.

Government’s first resolution of the year sets remarkable targets On the first day of 2018, the government issued Resolution No.01/NQ-CP on major tasks and solutions guiding the implementation of the 2018 socioeconomic development plan and the state budget estimate.