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Gov’t to scrutinize true potential of spearhead economic sectors

VGP – PM Nguyen Xuan Phuc said the Government will scrutinize the realities and true potential of all spearhead economic sectors in order to create fresh impetus for national development.

PM Nguyen Xuan Phuc addresses the high-level policy dialogue - the key event of the two-day Viet Nam Economic Forum 2019. Photo: VGP

>>> Infographics: Figures show how VN has improved

The Government chief stressed the point on Thursday while addressing the high-level policy dialogue – the key event of the two-day Viet Nam Economic Forum 2019.

He affirmed “fast and sustainable development” has been the strategic and consistent choice of the Government since 2016 with three pillars, namely economic growth, social progress and environmental protection, adding that these pillars can be seen in all macro-policies.

Today, long-term economic growth  can not be sustained without taking sustainability into account, particularly in the context of the 4th industrial revolution, Phuc emphasized.

The key task is that Viet Nam needs to show strong determination to thoroughly fix shortcomings of the economy while keeping pace with the rapid movements of the 4th industrial revolution and global trade liberation process in which ASEAN in general and Viet Nam in particular have played an active role.

Vietnamese economy expanded 7.08% in 2018, the highest rate since 2008, making Viet Nam one of the fastest growing economies in the world.

The agriculture sector grew seven-year high of 3.76% last year, significantly contributing to consolidating macro-stability and remaining promising in the years to come.

During the event, the Government chief highlights the country's achievements in 2018 and names top priorities for 2019. Photo: VGP

It has never been seen before that the number of newly established enterprises soared to 130,000 and 34,000 others returned to operations in 2018, according to the PM.

In 2019 and the years beyond, PM Phuc reassured the Government will continue focusing on ensuring socio-political stability and strengthening macro-economic foundations in order to confront external economic fluctuations.

The Government pledged to further accelerate institutional reforms, improve the quality of laws and governance, spur the development of private economy, and foster partnership between foreign invested and domestic sectors.

The Viet Nam Economic Forum, taking place in Ha Noi from January 16-17, drew the participation of around 2,000 delegates, including policy makers, business leaders, economists and representatives from the World Bank, the Asian Development Bank and the International Monetary Fund.

Former US Secretary of State John Kerry was also present at the forum which serves as platform for the participants to discuss on key issues of the Vietnamese economy; define trends, opportunities, and challenges, and set new orientations for the coming time./.

By Quang Minh

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