MPI hailed as chief architect of growth

The prime minister highlighted the MPI’s role in steering the country to success

Since the health crisis broke out at the beginning of the year, the Ministry of Planning and Investment (MPI) quickly took hold of the situation to be able to render timely assessments and forecasts about its implications. From there, it advised the government and the prime minister to give out rational orientations, measures, and policies to cope with the pandemic with the top objectives of minimising its impacts on the economy and ensuring social wellbeing.

The MPI also took the initiative on studying and reporting to the prime minister and the Party Secretariat for submission to the Politburo the plan on tackling COVID-19 implications to reboot and develop the local economy.

From there, the Politburo enacted Conclusion No.77-KL/TW in June on tackling harsh impacts of COVID-19 for economic rebound and development.

Leveraging these efforts, despite the pandemic’s critical impacts, Vietnam has continued to champion positive growth with stable development, laying the groundwork for an economic rebound and breakthrough development in the subsequent period.

Early last year, the MPI became the first government agency that Prime Minister Nguyen Xuan Phuc shared his mindset with in terms of building the country’s development vision towards 2045, and in particular over the next decade.

And in 2020, the country’s top leader once again highlighted his aspirations for building a powerful and thriving Vietnam by 2045 and asserted it as a “realistic practicality”.

“The MPI needs to directly engage in providing consultancy and crafting strategy, striving to turn this aspiration into reality,” the PM stressed.

“With 2020 being of great significance as it marks 75 years since its foundation, the MPI must always take the lead in steering the economy through turbulent times to reach full swing in growth despite challenging times,” PM Phuc said.

In the past 75 years, the great role of the planning and investment sector has not only been recognised during war time, attested through its fight against hunger, illiteracy, and foreign invaders, but also vividly reflected in the economic reconstruction of the country post-war, particularly during economic renovation and the country’s increasingly deepened economic integration in later periods.

Undergoing 35 years of reform, Vietnam has escaped from poverty and caved its name among low-end, middle-income nations – and the planning and investment sector is deemed as playing a significant role for Vietnam reaching today’s status.

“On this journey for the planning and investment sector, national construction and development have not only been underlined in the sector’s whole development, but its role is even more imperative today in the path ahead for the MPI, and the country as a whole,” said MPI Minister Nguyen Chi Dung.