The Vietnamese Government is working to build a consistent and effective administrative system that facilitates development and acts for the sake of people and enterprises, considering this the most important task in 2016-2020.
That commitment of the Cabinet was reiterated by Prime Minister Nguyen Xuan Phuc while addressing the 2016 Vietnam Development Forum (VDF 2016), themed “Facilitating and action-oriented government – New driving force for development”, in Hanoi on December 9.
Prime Minister speaks at the 2016 Vietnam Development Forum__Photo: VNA
At this year’s forum, instead of presenting reports and prioritized orientations, Vietnam’s Government agencies sought for development partners’ and experts’ viewpoints and assessments of Vietnam’s economic prospects in 2016-2020, impacts on and challenges to the national economy in the coming years, and multi-dimensional effects of global political and economic situations, and bilateral and multilateral trade agreements on the national economy.
Listening to speeches at the forum, PM Phuc said they are useful for Government agencies to precisely evaluate Vietnam’s situation and development prospects amid complex and unpredictable developments in the world, thereby devising appropriate measures to realize the set objectives and plans.
In 2016, the country’s GDP growth is expected at 6.3 percent while foreign reserves are at a record of some 41 billion USD. Despite a nosedive in global trade, Vietnam still enjoys a rise of around 8 percent in exports and 2-3 billion USD in trade surplus, he told development partners.
Stressing the target of rapid, sustainable and inclusive growth that leaves no one behind, he agreed with the development partners on their opinions about factors that can strongly affect Vietnam’s growth outlook such as fluid oil prices, emergence of trade protectionism, public debt payment, non-performing loans, and climate change.
Vietnam will work harder to revamp business climate, improve competitiveness, and have key business climate criteria comparable to the average of Malaysia, the Philippines, Singapore and Thailand – four other ASEAN countries. It will also encourage innovation, start-up and private businesses, he said.
Another solution is pushing ahead with more substantively economic restructuring, and State-owned enterprises equitization in line with the market mechanism, he said, asking the World Bank (WB), especially its International Finance Group, to help Vietnam deal with non-performing loans which, experts said, will influence macro-economic stability and growth if they are not settled soundly.
He also called for the WB and other development partners’ support to ensure social welfares, protect the environment and respond to climate change.
Co-chairing the VDF, WB Country Director for Vietnam Ousmane Dione congratulated the country on a stable macro-economy for five straight years, deeming this as an important foundation to accelerate growth and development.
He said to achieve the set targets, Vietnam should perfect its market mechanism and market-oriented approach. The socio-economic development plan for 2016-2020 should be aimed to bring about greater benefits for people. ODA capital also needs to be used in a more effective fashion in order to promote the private economic sector.
He expressed his belief that with the Government’s commitments and strong actions, Vietnam will attain ambitious goals, and development partners will assist it with knowledge, experience and best practices.
The VDF 2016 is a new approach to the cooperation relationship between Vietnam and development partners. This approach is derived from the Consultative Group Meeting for Vietnam and the Vietnam Development Partnership Forum.- (VNA)