Monday, 23 Sep 2019
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Vietnam's economic growth may hit 7% this year: PM Phuc

Updated at Thursday, 29 Aug 2019, 23:12
The Hanoitimes - Over the past years and as of the beginning of 2019, Vietnamese government has defined its guidelines namely “discipline, integrity, action, innovation, breakthrough, and effectiveness”
Vietnam's economy is expected to expand 6.7-7% in 2019, after growing 7.08% last year, despite global uncertainties and natural disasters, said Prime Minister Nguyen Xuan Phuc on Thursday evening.

That growth rate is higher than the regional and world average and Vietnam will strive to gain faster growth next year, PM Phuc said at a banquet for ambassadors, charge d’affaires and heads of international organizations to mark the 74th anniversary of Vietnam's National Day in Hanoi on August 29. 

 
Vietnamese Prime Minister Nguyen Xuan Phuc gives his remark at the banquet.
Vietnamese Prime Minister Nguyen Xuan Phuc gives his remark at the banquet. Photo by Ha An.
In his remarks, PM Phuc stressed that over the past years and as of the beginning of 2019, Vietnamese government has defined its guidelines namely “discipline, integrity, action, innovation, breakthrough, and effectiveness” focusing on enhancing the competitiveness of the nation as well as enterprises, products, and services, create a favorable environment for investors among others. 

Vietnam’s development shall be based on economic, political, social and environmental sustainability and inclusivity. It is built on knowledge, technology, and innovation, to realize a digital economy and the United Nations’ 2030 Sustainable Development Goals, in which no one is left behind.

By August 2019, foreign direct investment (FDI) has been a spotlight as the accumulated FDI commitments had reached US$355 billion with 29,550 active projects from 133 countries and territories. 

Total export and import turnover in August amounted to US$350 billion, up 8.3% and saw the surplus increasing to US$3.5 billion to US$4 billion. Vietnam also welcomed 9.8 million foreign visitors, an increase of 7.9%.

Additionally, the standard of living of Vietnamese citizens from urban to rural areas, mountainous areas to remote islands has significantly been improved. The great national unity has further been consolidated, and defense and security maintained.

The year of 2020 will be a remarkable year to Vietnam with a series of significant events as the country will take on two important responsibilities in the regional and world organizations namely the ASEAN chairmanship and a non-permanent membership of the United Nations Security Council (UNSC) for the 2020 – 2021 tenure. 

 
Venezuela Ambassador proposes a toast to Vietnamese
Venezuelan Ambassador Jorge Rondón Uzcátegui proposes a toast to Vietnamese heads of ministries, departments and agencies. Photo by Ha An. 
At the event, Venezuelan Ambassador to Vietnam Jorge Rondón Uzcátegui, who is dean of the diplomatic corps, said that 2019 is a memorable year to Vietnam because it marks 50 years of implementing late President Ho Chi Minh’s Testament, which still is the “lodestar” for the country’s development. 

In the international arena, he valued Vietnam’s effort on implementing friendly, cooperative and peaceful diplomatic policies. Securing 192/193 votes at the General Assembly to become a non-permanent member of the United Nations Security Council in the term of 2020-2021 demonstrated Vietnam’s great achievements in the international arena and its coming chairmanship of ASEAN will consolidate the integration process and the central position of the country in Southeast Asia. 
Ha An
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