Vietnam's economy continues to grow steadily

Commenting on the situation in July, the Prime Minister said that there were many major events taking place such as celebrating the 72nd anniversary of War Invalids and Martyrs Day with many meaningful activities across the country; successfully organizing high school graduation exams and university and college admissions, this year is "better, more organized, more quality". Four major banks of Vietnam simultaneously lowered interest rates from the morning of August 1, the Prime Minister said that this will contribute to reducing production costs, creating conditions for business, and helping better growth.

The Prime Minister also said about the information just announced this morning, that is that Vietnam's PMI (purchasing managers) in July increased compared to June (from 52.5 points to 52.6 points). Compared to ASEAN countries, Vietnam continues to rank 2nd after Myanmar (52.9 points), ranking above the Philippines (52.1 points), Thailand (50.3 points). Estimates based on PMIs show that manufacturing output will be able to continue to achieve double-digit year-on-year growth in the third quarter of 2019.

According to the Prime Minister, in the context of many difficulties in the world economy, international organizations still have a positive assessment of Vietnam's economic situation and prospects in 2019 and the coming years. Accordingly, the Asian Development Bank (ADB) assesses that Vietnam's economy will grow by 6.8% in 2019, the International Monetary Fund (IMF) forecasts an increase of 6.5%, the World Bank (WB) forecasts growth of 6.6%, HSBC Bank forecasts growth of 6.7%. Vietnam's Sustainable Development Index 2019 (SDG Index 2019) increased by 3 places, ranking 54 out of 162 countries and territories, ranking 2nd in ASEAN. The Global Innovation Index (GII Index 2019) has just been published by the World Intellectual Property Organization, whereby Vietnam continues to rise 3 places, ranking 42 out of 129 countries and territories, ranking 3rd in ASEAN.

The Prime Minister said that the socio-economic situation in July continued to change positively. The macro picture continues to have a good trend. The consumer price index in July increased by 0.18% compared to the previous month, the average of 7 months in 2019 increased by 2.61% over the same period, this is the lowest average increase in 7 months in the last 3 years. Total State budget revenue increased considerably. Export turnover reached more than 145 billion USD, up 7.5%; the growth rate of export turnover of the domestic sector was 12.2%, higher than the growth rate of the FDI sector of 5.6%. Trade surplus of 1.8 billion USD. Realized FDI reached 10.6 billion USD, up 7.1%. The agricultural sector continues to have good changes in the restructuring of crops and livestock.

International visitors in July increased by nearly 8%. Many domestic tourist destinations have been voted as the top tourist destinations in Asia, the world such as Hanoi is the most attractive culinary destination in the world, Hoi An is the most charming city in the world in 2019... Social security work, employment, poverty reduction, health, and education are focused. People's lives continue to improve. The number of households experiencing grain shortage decreased by nearly 32% over the same period, supporting nearly 3,900 tons of rice hunger.

The Prime Minister acknowledged that the awareness of environmental protection has been enhanced. The mobilization of businesses and people to reduce the use of single-use plastics is achieving positive results.

At the meeting, the Prime Minister said that it is also necessary to focus on discussing shortcomings, limitations and weaknesses to soon overcome and come up with specific measures and countermeasures such as: Agriculture faces many difficulties. Typhoon No. 3 is approaching the shore with stronger intensity. Intense and prolonged heat in the Central and Central Highlands. African swine fever is raging. Prices of some agricultural products decreased...

Saying that many key industrial, energy and transport projects continue to be behind schedule, the Prime Minister emphasized that it is necessary to promote the solution of this problem. Recently, a number of ministers such as the Ministry of Transport have reported to the Government on a number of key projects and the Prime Minister has made a decision to handle a number of works. For example, the Trung Luong - My Thuan expressway, despite many difficulties, the Government is determined to focus on completing this road because "we have promised the people of the Mekong Delta but have not been able to do it for many years" to the end in 2020, it will be basically opened to traffic and inaugurated in 2021. According to the Prime Minister, many energy projects need to continue to be promoted to ensure electricity for daily life and production.

There is also the fact that investment capital from the State budget has not improved much. Production and business continue to face many difficulties, especially small and medium-sized enterprises. The cultural and social fields still have some limitations. The Prime Minister asked Government members to give more comments on the emerging frustrations to be resolved together.

According to the agenda of the meeting, in addition to discussing the socio-economic situation, the Government will consider and give opinions on a number of contents such as: Problems in investment activities of enterprises under the Committee for Management of State Capital in Enterprises; The overall scheme on socio-economic development of ethnic minority and mountainous areas and extremely difficult socio-economic areas in the 2021-2025 period; amending and supplementing Resolution No. 51/NQ-CP on restructuring the State budget and public debt of ministries, agencies and localities; plans for formulation of legal documents; piloting a number of Da Nang development mechanisms and policies to supplement the law-making program in 2019; on the proposal to develop a decree on transforming non-business units into joint stock companies...

QUANG PHUONG/QNDND