PM lauds 10 remarkable socio-economic achievements

09:03 | 29/12/2016 Events

Prime Minister Nguyen Xuan Phuc highlighted 10 remarkable socio-economic achievements in 2016 and nine outstanding problems while chairing a conference of the government and localities in Hanoi on December 28.

PM Nguyen Xuan Phuc speaking at the conference (Credit: VGP)

Despite numerous challenges during the year, the government has been determined to build transparent, constructive and action-minded administrative systems at all levels and issued a number of resolutions to improve business and investment climate.

Notably, the year 2016 was designed to be a Year of Start-ups.

The country posted a 6.21% GDP growth, higher than the rates recorded by many developing countries in Asia and Southeast Asia. Foreign currency reserves hit a record US$41 billion while revenues to the State budget met target. Export value increased 6.8% and export surplus reached US$2.68 billion despite losses of 1 percent and 0.3% loss of GDP caused by natural disasters and the mass fish deaths in the central region, respectively.

More than 110,000 new firms were established during the year with a total registered capital of VND891 trillion (US$38.7 billion), the highest so far, up 48.1% in capital and 16.2% in the number of businesses.

The disbursement of foreign direct investment hit a record US$15.8 billion. As of December 26, there were 2,556 foreign-invested projects nationwide. The total newly registered and additional capital amounted to US$24.4 billion, up 7.1% annually.

The tourism sector served more than 10 million tourists, also the highest so far.

The country was ranked 89th out of 190 countries and territories in terms of business climate, up 9 places from 2015.

The new rural development campaign brought about positive results, with 30 district-level units and 2,235 communes, or more than 25% of communes nationwide, having met criteria for new-style rural areas.

Regarding social development, the poverty rate based on multi-dimensional criteria fell to nearly 8.5%, with 1.61 million new jobs being created. Health insurance coverage surpassed 81% for the first time. The country won its first Olympic gold medal.

Attention has also been paid to law building, with the issuance of 160 decrees guiding the enforcement of laws.

Under the direction of the PM and government, the entire political system joined in efforts to prevent and mitigate natural disasters, and provide climate change response and environmental protection. The Government has closed natural forests and strictly punished forest destruction activities.

Urgent issues of public concern have been dealt with promptly, including the marine environment incident in the central region, food safety, and the fight against corruption and vested interest as well as wastefulness.

The nine outstanding problems in 2016 included a 64% slump in the resource industry’s production index, with crude oil output and export value tumbling 12% and 36.7%, respectively, due to the strong fall in world oil prices.

Drought, flooding and saline intrusion devastated many regions. The marine environment incident has caused serious consequences, especially in the central region. Projects worth a trillion VND incurred losses while commercial banks faced high risks.

Serious fires, road accidents and crimes happened across the country...

Vietnam fell four places in international rankings in innovation and creativity, placed at 59th out of 128.

Participants gave the nod to the government’s report and expressed determination to perform socio-economic tasks from the beginning of next year. Local officials vowed to continue improving the business climate and facilitating business operations.

On the morning of December 29, the conference was due to discuss socio-economic affairs.