VietNamNet Bridge – An economic growth of 4.73 percent recorded
in the first nine months of the year, inflation rate under control and more stable
macro economy are positive signs of sustainable development in the coming time,
said Prime Minister Nguyen Tan Dung.
When delivering the Government’s
report on socio-economic development in 2012 and tasks for 2013, on the first
day of the fourth session of the 13th National Assembly on October 22, Dung
added that the country’s economic growth is expected to reach 5.2 percent this
year.
The report stated that in the
past, the Government has been consistent with its goal of curbing inflation,
stabilising the macro economy and implementing tighter fiscal and monetary
policies. Thanks to this, the macro economy has recorded progress in several
important areas.
Inflation is initially under
control, with the consumer price index (CPI) up 5.13 percent in the first nine
months. Many measures will be introduced during the rest of the year to keep
the annual inflation to roughly eight percent.
Lending interest rates have
fallen while loans for agriculture and rural development have increased. The
liquidity of the banking system is also better. The stable foreign exchange
rate has consolidated public confidence in Vietnamese dong, gradually limiting
the use of foreign currency and gold as means of payment in the country.
Vietnam recorded an export
turnover of 83.79 billion USD in the first nine months, an annual increase of
18.9 percent, while import value stood at 83.76 billion USD, up 6.6 percent.
The country expects to see a 16.6 percent rise in exports and a 6.8 percent
increase in imports by the end of this year. Trade deficit is also estimated to
reach one billion USD, or 0.9 percent of export turnover. Foreign currency
reserves rose to the equivalent of 11 weeks of imports, while balance of
payments saw a surplus of more than 8 billion USD.
The State budget collection
achieved 67.3 percent while spending stood at 71.2 percent of estimates. With
these positive signs, in the remaining months the country should fulfil its
yearly target, keeping budget overspending at 4.8 percent of the GDP, in line
with the goal set by the NA.
Total social investment is
estimated to make up 29.5 percent of GDP compared to 34.6 percent in 2011. With
several measures taken to remove problems, production and business operations
have gradually improved.
Industrial production has
increased quarter after quarter with the index for the first nine months up 4.8
percent and expected to reach 5.3 percent for the whole year.
Agriculture, forestry and
fisheries continue to see developments, playing an important role in
stabilising the economy and life in rural areas. The sector’s total production
value rose by 3.7 percent in the first three quarters and is estimated at 3.9
percent for the whole year.
The country’s rice output is
expected to surpass 43 million tonnes in 2012, an increase of one million
tonnes over the previous year, of which, around 7 million tonnes will be for
export.
This year, seafood export will
reach 6.5 billion USD out of the 26.5 billion USD of the sector’s total value.
The service sector has seen a
higher growth rate than the economy’s average as revenues from tourism are
estimated to have increased by over 15 percent with an eight percent rise in
the number of international tourists visiting Vietnam.
The post and telecommunications
sector has also seen strong developments.
Regarding economic restructuring
and revamping the model of growth, the government has instructed the
restructuring of State-owned enterprises, the financial and banking market and
investment activities, considering it a crucial part of the overall
restructuring plan.
To ensure social security and
welfare, the Government has directed the implementation of several social
programmes and policies, focusing on generating jobs, increasing incomes and
reducing poverty.
The poverty rate is expected to
fall by 1.76 percent this year, failing to fulfil the set target of 2 percent,
however, this is still a great effort in the current difficult economic
situation.
In the first nine months, Vietnam
generated 1.13 million new jobs and the yearly figure is expected to reach 1.52
million. The country has also implemented unemployment insurance for more than
280,000 workers.
The Government now provides care
for 8.8 million people who rendered service to the nation, of whom nearly 1.5
million receive regular allowances.
Culture and sports continue to
receive due attention in combination with campaigns to build cultural life at
the grassroots level and the new rural areas building programme. Great
importance was also attached to the preservation and upholding of national
cultural values.
Almost all targets regarding
education and training have been fulfilled or surpassed. The quality of
education has improved while school facilities continued to be strengthened and
fortified.
Scientific research recorded
positive outcomes. Some research projects have scientific and practical values,
contributing to socio-economic development.
Administrative reforms continued
to be implemented in a synchronous manner in terms of institution, personnel
organisation, administrative procedures and public finance.
Regarding external affairs,
national defence - security, and socio-political stability, the Government has
implemented synchronous and appropriate measures, timely dealt with emerging
issues, ensuring socio-political stability and national independence and
sovereignty.
External relations further
developed in both width and depth. The Party’s external relations were closely
combined with the State and people’s diplomacy, creating a favourable
international environment to safeguard national sovereignty and boost
international integration, while mobilising resources for development and raising
the country’s position.
The PM’s reported also clearly
pointed out shortcomings and weaknesses, including the unstable macro-economy,
the recurrence risk of inflation, rising bad debts which are slowly dealt with,
high interest rates as compared to the efficiency of business and production.
Some State-owned groups and corporations suffered from inefficient business and
production, or even violated the law, causing substantial losses of the State
assets. The restructuring of Vinashin corporation still meets with difficulties
and obstacles.
A part of people, especially
those in remote and mountainous regions and ethnic minorities still face many
difficulties in their daily life. Due to limited resources, policies on social
welfares, poverty reduction, new rural areas building, job creation and salary
reforms are yet to meet the demand.
Administrative reforms failed to
meet requirements, with many inappropriate administrative procedures slow to be
changed. Administrative discipline is lax, inspection and supervision work
reveals many shortcomings, which reduces the efficiency and effectiveness of
administration and management. A part of officials and civil servants degraded
and failed to fulfill their responsibilities, causing negative phenomena, affecting
the people’s trust.
Overall speaking, amid
difficulties and challenges, the leadership and management of implementing the
2012 socio-economic development tasks have closely followed the goals and
missions set out in the Party and State’s resolutions, achieving and surpassing
10 out of 15 set targets. Inflation was reined in, macro-economy shifted
towards greater stability and growth saw a quarter-to-quarter increase.
However, five targets have not
been fulfilled, the economy continues to face great difficulties while a lot of
shortcomings and weaknesses remain. Meanwhile, the tasks for the rest of this
year are extremely tough.
In order to achieve a yearly
gross domestic product (GDP) growth of 5.2 percent, the fourth quarter’s growth
must hit 6.5 percent (the third quarter’s rate was a mere 5.35 percent).
Therefore, it requires a great efforts of the whole political system, the State
management agencies and the business community, as well as drastic and
synchronous measures to ease difficulties, support production and trading, spur
growth, stabilise the macro-economy, prevent high inflation, and actively
prepare for higher growth in 2013.
2013 is a key year for the
five-year plan but the outcomes after two years are much lower than the set
targets for the 2011 – 2015 period. Meanwhile, the country must set aside
resources to ensure national defence and security, social welfare and cope with
natural disasters and climate change.
As for key economic goals for
2013, the Government proposed a GDP growth of about 5.5 percent, a 10 percent
rise in export value and import surplus at 8 percent. The State budget
overspending is less than 4.8 percent of the GDP. The consumer price index
(CPI) growth is about 8 percent. The total social investment should be about 30
percent of the GDP.
Regarding major social targets,
the number of poor households will drop by 2 percent and that of poor districts
will fall by 4 percent. Nearly 1.6 million workers will be provided with jobs
and the rate of trained workers will reach 49 percent.
During the next year, 84 percent
of facilities causing severe environmental pollution are expected to be dealt
with while 75 percent of operating industrial and processing areas are equipped
with environmentally-standard wastewater treatment systems. The rate of forest
coverage will reach 40.7 percent.
In order to achieve the set
targets, the report outlined several key tasks and measures, stressing on the
need to work harder to stabilise macro-economy and curb inflation, remove
challenges to stimulate production and trading. The implementation of three
strategic breakthroughs will be stepped up in combination with restructuring
the economy and renewing the model of growth.
It also highlighted the goals of
ensuring social security and welfare, improving the people’s well-being and
healthcare, developing education - training, and science – technology.
Additionally, it is necessary to
enhance the effectiveness and efficiency of State management of land, natural
resources, environmental protection, natural disasters prevention and coping
with climate change.
Administrative reforms will be
further conducted, the people’s right to mastery will be brought into full
play, while measures will be taken to prevent and fight corruption and
wastefulness, ensure social order and safety, and build a rich and cultural
life.
The government’s report also
stressed ways to ensure national defence and security, socio-political
stability, improve the effectiveness of external relations work, increase
information and communication work to create a consensus in society, and
mobilise collective power to successfully implement the 2013 tasks and plans.
]
In the report, PM Dung also
admitted the Government’s weaknesses and shortcomings in leadership and
management, in particular in the inspection and supervision of the State-owned
groups and corporations’ operations.
A number of State-owned groups
and corporations, notably Vinashin and Vinalines, witnessed inefficient
production and trading, committed many wrong-doings, causing serious losses and
consequences in many aspects and greatly affecting the State economic sector’s
prestige and role.
The PM also acknowledged his
responsibilities and apologised the NA for the above-mentioned weaknesses and
shortcomings. At the same time, he pledged to do his utmost to rectify such
problems.
Concluding the speech, Dung said:
“We are striving to achieve the highest outcomes of the year’s target during
the remaining months of 2012. On the threshold of 2013, a key year of the
five-year plan for 2011 – 2015, our country is facing a lot of difficulties and
challenges, and the set tasks are extremely tough. Under the leadership of the
Party Central Committee, the entire Party, armed forces, people and the whole
political system must join efforts with the highest determination to
successfully implement the tasks and goals of 2013, making positive
contributions to carrying out the 2011 – 2015 plan”.
VietNamNet/Vietnam Plus
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