Prime Minister Nguyen Xuan Phuc (Photo: VNA)

Prime Minister Phuc said the government’s motto of “Discipline, Integrity, Action, Creativity, and Effectiveness” has motivated consensus and a strong response from the whole political system, the business community, and people nationwide to attain major achievements in 2018.

Economic records set in 2018

Vietnam’s GDP growth rate in 2018 reached 7.08% for the first time since 2008, placing Vietnam among the countries with the highest growth rates. GDP per capita rose to 2,587 USD. The consumer price index rose 3.54%, and other indexes were stable, ensuring macro-economic stability. Total export revenue was 245 billion USD, and the foreign currency reserve was more than 60 billion USD. Vietnam welcomed 15.5 million foreign tourists, an increase of 20%.

The government’s startup and business development programs gained results, with 130,000 new businesses established and 34,000 businesses resuming operations. Other sectors – culture, society, environment, and climate change response – have seen remarkable progress. Policies for national contributors were in place. Poverty reduction targets were reached. More than 1.65 million jobs were generated, reducing the urban unemployment rate to 3.1%. Healthcare services were improved and 86% of the population now has medical insurance. Prime Minister Nguyen Xuan Phuc said Vietnam has made great strides to overcome problems and elevate its global ranking.

Key tasks for 2019

Prime Minister Phuc said Vietnam sees 2019 as a year for breakthroughs in all sectors. The government has issued resolutions on major tasks and solutions to implement socio-economic plans and state budget estimates for 2019. There must be an emphasis on consolidating the macroeconomy and improving national competitiveness.

2019 will be a year with a stronger commitment to restructuring public investment, state-owned enterprises, and credit institutions to make the most of signed Free Trade Agreements. Science and technology must be made a driving force for socio-economic development.

Vietnam will continue to make big changes in investment restructuring, focusing on investment in the private sector, greater connectivity between foreign investors and domestic businesses, more high-tech application, and participation in global production and value chains.  

Cultural and social development must proceed in tandem with economic development. Resources and the environment must be conserved, and measures taken to cope with climate change and natural disasters. The Government needs to step up efforts toward e-Government building and administrative reform. Vietnam should step up diplomatic activities and participate actively and responsibly in multilateral forums and organizations. Finally, national solidarity must be consolidated to create social consensus and inspire national pride and an ambition to sustainably develop the nation.