The Vietnamese Government commits to ensuring political security, social safety and order, as well as creating favourable conditions for international organisations and investors, and foreigners to live and do business in the country, confirmed Prime Minister Nguyen Tan Dung.

PM Nguyen Tan Dung addresses the forum.

The PM made the confirmation while attending the 2015 Vietnam Development Partnership Forum (VDPF 2015) in Hanoi on December 5.

Vietnam affirms its consistent foreign policy of peace, friendship, cooperation, equal and mutually-benefited development with all nations, he said, adding that it wishes to be a friend and trusted partner with countries and territories around the world.

He also emphasised the country’s determination to overcome development challenges and its hope to receive continued support from partners and international organisations in the time to come.

The country will continue improving the capacity of state and economic management, perfecting a rule-of-law state and bettering legal institutions. It will strive to ensure people’s basic rights and encouraging their involvement in building development policies while intensifying administrative reform to improve the investment and business environment and increase national competitiveness.

Informing the partners of Vietnam’s measures to implement its 2016-2020 development goals, the Government leader affirmed that Vietnam prioritises implementing solutions to stabilising the macro-economy in line with restructuring public investment, the financial-banking system and the agricultural sector, and reorganising State-owned enterprises.

The Government will also focus on increasing labour productivity, keeping the budget overspending below 4 percent and public debt at a safe level, and using public investment efficiently.

As one of the countries seriously affected by climate change, Vietnam has had strong commitments to the international community to protecting the environment and adapting to this phenomenon, he added.

He affirmed that in the next five years, Vietnam will strive for faster and more sustainable development with a growth rate of 6.5-7 percent.

Taking the floor, World Bank Country Director for Vietnam Victoria Kwakwa hailed Vietnam’s socio-economic development achievements during the 2011-2015 period. The country’s average growth rate reached 6 percent, in comparison with the regional average of 5.6 percent. Its per capita income rose by 4.8 percent at 2,200 USD and poverty rate fell from 20.7 percent in 2010 to 11.3 percent in 2014.

According to her, one of the big challenges facing Vietnam in the next five years is resources for development programmes in the context of narrowed preferential loans.

Regarding this issue, PM Nguyen Tan Dung said that the full and effective implementation of the market economy’s regulations is crucial to mobilise both domestic and foreign resources.

As such, Vietnam will continue perfecting its market economy institution, with the priority given to encouraging private economic development under the form of small- and medium-sized enterprises.

It is the Vietnamese people who decide the success or failure of the country’s economic development, the Government leader affirmed.

At the VDPF 2015, themed “Towards competitive, inclusive and sustainable growth”, representatives from nations and international organisations that are Vietnam’s donors and partners pledged to maintain support for Vietnam to help it effectively realise socio-economic development goals for 2016 and the following years.

They also made several recommendations on restructuring the economy, bettering the public financial and banking system, speeding up institutional reforms, strengthening state management and developing the private sector.

VNA