Tran Dai Quang State President

Yet we are also faced with many challenges and difficulties: a developing yet unstable economy, mounting public debt, and gradually diminishing bad debts that still remain at a high level. We must also make adjustments to our unbalanced human resource structure, low workforce quality, and unstandardised infrastructure – all of these continue to stand in the way of development.

In this situation, we have continued to uphold the spirit of patriotism and make use of all resources and the creativity of the people, while strengthening comprehensive reform so as to speed up national development in a sustainable way.

(Excerpt from the speech titled “Solidarity, joining efforts for actions and conducting sustainable development together” by State President Tran Dai Quang at the 38th Singapore Lecture, on August 30, 2016)

Vietnam needs to develop at a higher level, and move up to a higher level in the global value chain. - Nguyen Xuan Phuc Prime Minister

The government is drastically restructuring the economy and renewing the growth model. It cannot continue its old way of thinking and acting any longer. The country cannot develop based on the exploitation of natural resources and cheap labour.

Prime Minister Nguyen Xuan Phuc

Vietnam needs to develop at a higher level, and move up to a higher level in the global value chain. Such development will be largely based on innovation and renovation, and on advanced technology and highly skilled labour. To this end, Vietnamese enterprises have to play a pivotal role, and take advantage of opportunities resulting from international integration, globalisation, and the fourth industrial revolution.

Today, any nation that has many enterprises joining the global value chain will ready itself for global economic integration.

In order to participate in the global value chain, it is necessary for enterprises to legally and professionally conduct production and business. They also need to catch up with regional and international standards. This will require entrepreneurs to be active, innovative, knowledgeable, and have a good political stance.

(Excerpt from the speech by Prime Minister Nguyen Xuan Phuc at the launching ceremony of the emulation movement “Vietnamese enterprises towards integration and development”, on October 11, 2016, marking Vietnamese Entrepreneur Day – October 13)

Such a difficult situation requires us to have strong determination, with drastic solutions.

- Nguyen Thi Kim Ngan Chairwoman of the National Assembly

Our country is facing many difficulties and challenges. Domestically, prolonged drought in the south-central and Central Highlands provinces, drought and salinity intrusion in the Mekong Delta, and the environmental incident and flooding in some central provinces have all heavily affected agricultural production and people’s lives.

Chairwoman of the National Assembly Nguyen Thi Kim Ngan

The world’s economic recovery remains slow, and contains unpredictable risks. The price of crude oil has reduced to a level far lower than the government’s expectation, affecting the state budget revenue and macro balances. Such a difficult situation requires us to have strong determination, with drastic solutions for economic restructuring, renewal of the growth model, control of public debts, and measures for dealing with bad debts. The resolutions are also aimed at improving the investment and business climate.

All this is aimed at stabilising the macro-economy, maintaining proper growth, ensuring social security and order, improving people’s lives, holding onto political stability, and strengthening national defence and security, with a view towards laying the groundwork for upcoming years.

(Excerpt from the opening speech by National Assembly Chairwoman Nguyen Thi Kim Ngan at the opening ceremony of the 14th National Assembly, on October 19, 2016)

The success of the congress has created new momentum... for national renovation, construction, and protection. - Nguyen Phu Trong Party General Secretary

2016 was the first year of implementation of the Resolution of the 12th National Party Congress. Besides the opportunities and advantages this has given us, there were also many difficulties and challenges. The success of the congress has created new momentum and impetus for national renovation, construction, and protection.

Nguyen Phu Trong Party General Secretary

After the congress, the Central Party Committee conducted a successful election of the 14th National Assembly and people’s councils at all levels for the 2016-2021 period, solidified the leading bodies of the Party and the state, and developed and actively implemented the Socio-Economic Development Plan for 2016 and that for the 2016-2020 period.

Special importance must be given to controlling public debt, tackling bad debts, and restructuring the state budget. We must also boost the restructuring of public investment, state-owned enterprises, state-funded units, and the commercial banking system. In addition to these foundational measures, we must also improve the country’s investment and business environment in order to mobilise and use resources more effectively, and ensure the major balances of the economy.

(Excerpt from the opening speech by Party General Secretary Nguyen Phu Trong at the 4th Conference of the 12th Party Central Committee, on October 9, 2016).

VIR