Vietnam has set targets of 6.7% GDP growth, stabilizing the macro-economy, and ensuring social security for 2017. To meet these goals, the Government has initiated a number of action plans.

Vietnam’s most important targets for 2017 include GDP growth of 6.7%, average inflation of 4%, and budget sufficiency.

Government determination

At a teleconference with local leaders last week, Prime Minister Nguyen Xuan Phuc highlighted 30 key tasks for 2017, including improving the business and investment environment, boosting economic productivity, efficiency, and  competitiveness, keeping public debt at a safe level, and encouraging Government agencies to use the state budget efficiently.

The Government will issue a resolution on implementing the socio-economic development plan and state budget estimates for 2017. Deputy Prime Minister Vuong Dinh Hue says the resolution aims to stabilize the macro-economy, promote economic restructuring, and ensure fast but sustainable development.

“In the first quarter the State Bank must finalize its project to prevent the excessive use of USD and gold in transactions, and design a project to mobilize gold and USD from the public for economic development. Economic restructuring will continue, together with changing the growth model. All projects to restructure public investment, state-run enterprises, and credit organizations must be submitted to the Government by March at the latest”, said Deputy Prime Minister Vuong Dinh Hue.  

Consensus from local authorities

The Government’s swift actions have been applauded by localities. Hanoi authorities said that they will firmly adhere to Government instructions by creating the best conditions for businesses and assuring social security. HCM city will strive to create at least 50,000 new businesses in 2017.

“We’re resolved to surpass the set targets for 2017. More social housing projects for workers in industrial parks and factories will be developed”, said Chairman of the Dong Nai provincial People’s Committee Dinh Quoc Thai.

Chairman of the Ha Nam provincial People’s Committee Nguyen Xuan Dong noted measures to be taken in the near future. “We are replanning industrial parks and will offer more incentives to attract investment in these facilities. Credit packages will soon be given to high-tech agricultural development,” Mr Dong emphasized. 

Chairman of the Hai Phong city People’s Committee Nguyen Van Tung pledged to create a breakthrough in 2017. He said “We aim to achieve a growth rate of up to 13% and increase local budget revenue. 

We have proposed building an international port and another terminal at the Cat Bi International Airport”. 

VOV5