Ministries urged to take action to ensure Vietnam’s economic growth

Friday, 2018-03-30 16:07:31
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The conference on promoting production and economic growth
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NDO - Deputy Prime Minister Trinh Dinh Dung assigned specific tasks for the ministries and agencies in order to realise Vietnam’s economic growth targets for 2018, at a meeting on March 30.

He said that the economic performance in the first quarter of the year was outstanding, with gross domestic product expanding by 7.38%, primarily driven by strong manufacturing activity and exports.

But he warned that there are still a number of drawbacks that need to be dealt with effectively.

The Deputy PM elaborated that the business climate has improved but has yet to meet the expectations of enterprises, while infrastructure remains underdeveloped, productivity is low and competitiveness is weak.

Furthermore, market risks, input costs and trade barriers are growing and the impact of natural disasters and climate change is becoming more severe.

Therefore, Deputy PM Dung asked the ministries, agencies and local authorities to continue to effectively restructure the tasks to promote production and economic growth.

He said that the restructuring process must be market-based, aligned with climate change mitigation efforts and suited with the conditions of each enterprise and locality.

In addition, the ministries, agencies and local authorities need to review their development plans, determine the priorities and develop measures to deal with difficulties and boost growth.