(VOVworld)- Despite the slow recovery of the world economy in 2013 Vietnam made important achievements in socio-economic development contributing to the fulfillment of the 5-year plan till 2015. The government promptly controlled inflation, stabilized the macro economy and ensured social security.

Vietnamese Prime Minister Nguyen Tan Dung and Deputy Prime Ministers

Vietnam witnessed positive socio-economic achievements in 2013. Many important targets including inflation control and growth stimulation were fulfilled. Social security and social welfare were ensured.

Flexible and dynamic macro-economic management

Highlights of Vietnam’s achievements in 2013 were its success in stabilizing the macro-economy, inflation and the monetary market, thanks to government policies, which were highly praised. In 2013, risks faced by credit organizations diminished, liquidity and the credit structure improved, with VND credit increasing and foreign currency credit dropping. The forex market was stable. Despite the global economic crisis, Vietnam attracted more than 20 billion USD of FDI in 2013, 65% more than last year. Huynh Nghia is a National Assembly deputy from Da Nang:“The policies, which have been implemented since the beginning of year, show that the government has been dynamic and creative in pursuing its macro-economic targets. The government has put in place several measures to stimulate demand and restore economic growth and has methodically restructured the economy and the growth model. The government has made an effort to deal with credit bottlenecks and increase purchasing power. Special measures were used to increase prioritized credit lending, and reduce deposit interest rates and lending interest rates to deal with bad debts.  Generally, efforts to stabilize the macro-economy were successful.”

Economist Pham Huy Hung says: “We have gained positive results in balancing supply and demand to ensure food security, increase food exports, improve trade balance and boost exports. The financial market was improved, the economy was restored and the domestic market was strengthened while difficulties in production and business were tackled, inventories were reduced sharply, the quality of growth was improved and exchange rates were kept stable. These are the initial results of the economic restructuring process”.

Social security ensured

In 2013, social security policies for social beneficiaries, social insurance, and unemployment insurance were strengthened. Vietnam created more than 1 million jobs and sent more than 70,000 workers abroad, 7.7% more than last year. The government managed to forecast and quickly mobilized necessary resources to minimize disaster losses, support disaster victims with food and accommodations, restore production and stabilize people’s lives. Le Van Tan is a National Assembly deputy from Ha Nam province: “Despite economic difficulties, the State gave priority to ensuring social security. The social insurance system has been strengthened with the expansion of beneficiaries and priority being given to social beneficiaries, poor and disadvantaged people. The new rural development program has been enthusiastically embraced and many localities have seen improvements in rural people’s lives.

External relations activities strengthened

In 2013, external relations were remarkable. Le Van Tan is a deputy from Ha Nam province: “External relations were strengthened and national defense maintained. The State enhanced international cooperation, boosted strategic dialogues with many partners and deepened partnerships with traditional and major partners. This created favorable conditions for national construction and defense”.

Though Vietnam still faces many challenges including a risk of higher inflation, high rate of bad debts, a slow growth of credit surplus, and difficulties in production, 2013’s achievements serve as an important prerequisite for Vietnam to successfully implement its five-year plan until 2015.