Prime Minister Nguyen Xuan Phuc has called for strong political will and feasible measures to achieve growth targets set for each sector this year.

Addressing the monthly cabinet meeting in Ha Noi on Saturday, he emphasized the concerted effort needed to achieve the targeted 6.7 per cent growth set for this year.

He mentioned targets for key sectors including agriculture, 3.05 per cent , with farm produce exports of US$33 billion), industry, 7.91 per cent, mining, manufacturing and engineering, electricity and construction, up 10.5 per cent; services, 7.19 per cent, with tourism revenues up more than 30 per cent, welcoming over 13 million foreigners.

The PM also called for capital disbursement and equitisation of State-owned firms to be speeded up.

He asked cabinet members to propose ways to remove business obstacles and oversee how State groups and corporations were complying with policies and directives issued by the Party Central Committee, National Assembly and Government.

The Ministry of Planning and Investment (MPI) reported at the meeting that a record 50,500 new firms were established in the first five months of this year. During this period, inflation was brought under control, and growth was seen in FDI inflow and tourism revenues.

From May 12, the Finance Ministry began offering VAT refunds online, marking a big step forward in administrative reform.

For the first time, the government did not delay the submission of its reports to the National Assembly (NA), and submitted 13 bills to the 14th NA’s third session for consideration.

The PM also briefed the cabinet on the outcomes of his freshly-ended US visit, saying Viet Nam was one of the 16 countries running a trade surplus with the US. He said both sides discussed a range of issues, from trade to national defence-security, including the East Sea issue.

The visit also marked a significant milestone in investment promotion, with the signing of deals worth around $12 billion, he said.

He added that intellectuals, overseas Vietnamese and US Congressmen had expressed their support for Viet Nam’s multilateral policy, particularly its current drive for deeper global integration.

Phuc called for strict handling of land erosion in the southwest, the medical incident in Hoa Binh provincial general hospital and pavement encroachment in several localities.

May was good

The Prime Minister also hailed the socio-economic performance in May as the best since early this year.

He asked a government working group to oversee the implementation of Directive 24 on measures to achieve the 6.7 per cent growth target for the year, with ministries and relevant agencies working hard to clear business obstacles.

The State Bank of Viet Nam was told to achieve credit growth of more than 18 per cent this year by offering suitable packages for housing and consumption sectors.

He urged ministries and agencies to give feedback on the resolution on disbursement for basic construction projects so that it could be adopted soon.

Phuc agreed with the MPI’s proposal to establish a group to inspect private and foreign-invested projects in different localities.

He said another Directive will be issued soon for removing obstacles faced by businesses.

In compliance with the Resolution adopted by the 12th Party Central Committee’s fifth plenum, the PM requested the MPI to prepare an action plan to fine-tune socialist-oriented market economy mechanisms and another Resolution on developing the private economy.

Phuc asked the Finance Ministry to prepare an action plan to implement the Resolution on restructuring, renovating and improving the efficiency of State-owned enterprises.

The ministries of Public Health, Home Affairs and Planning and Investment were asked to pay attention to the progress in preparing reports for submission to the Party Central Committee’s sixth plenum.

Press conference

Also on Saturday, Head of the Government Office and Government Spokesman Mai Tien Dung chaired a Government press conference informing reporters of socio-economic development issues in May as well as in the first five months of the year.

“As for the socio-economic situation, we have reached almost half of our 2017 path. As you know, the recent rises in GDP growth in the first

quarter were lower than the same period last year. Thus, the Government and the Prime Minister has tried, drastically directed and managed with determination to reach the 6.7 per cent target set for the whole year,” said Dung.

The Government official particularly highlighted an increase in the number of newly established enterprises, which continued to set a record

with more than 50,000 newly registered enterprises.

Total new and additional registered capital reached nearly VND1.2 trillion, showing an improved business environment, according to Dung.

Administrative reform and institution completion grossed fruitful achievements, Dung said.

The spokesman cited some examples for such success, including the latest reform in the Ministry of Finance and the General Department of Taxation in launching electronic refund system nationwide.

He said this was a big step in building e-government.

Dung and representatives from many ministries, such as the ministries of Information and Communications, Finance, Industry and Commerce,

Planning and Investment, Transportation, Agriculture and Rural Development, Education and Training, Culture, Sports and Tourism, Health, Natural Resources and Environment, and the State Bank of Viet Nam spent time answering reporters’ questions about different issues, including potential of business and economic co-operation between Viet Nam and the US after PM Phuc’s recent visit to the US, electricity price increase, tax on environmental protection, the operation of Uber and Grab taxies and illegal drug production in the country. — VNS