Hanoi (VNA) – Prime Minister NguyenXuan Phuc requested all sectors, localities and enterprises to work together tomake stronger changes in the competitiveness of the economy while concluding anonline conference between the Government and localities in Hanoi on December29.

He suggested promoting individualresponsibilities, especially among heads of departments, building measurablesocio-economic indicators for 2018, and reforming the political system fromcentral, local to grassroots levels.

The PM highlighted the crucial role of economicgroups and companies in boosting the country’s gross domestic product (GDP)growth and responding to the fourth industrial revolution.

He appreciated views raised at the event andasked ministries and localities to acquire the directions of General Secretaryof the Communist Party of Vietnam (CPV) Nguyen Phu Trong made at the conferenceon December 28.

PM Phuc entrusted ministries and relevantdepartments to finalise Resolution 1 on collecting constructive opinions oflocalities for implementing assigned tasks right in early 2018 to avoid workoverload at the year’s end.

He emphasised on refining policy mechanisms,reducing production costs and removing bottlenecks for businesses. 

He called on local authorities and businessassociations to strengthen connectivity to address institutional shortcomings.

The PM demanded comprehensive development fromeconomics to culture and society, not only foreign direct investment (FDI)firms but also domestic ones.

He ordered double efforts to strike the goal of6.5-6.7 percent in economic growth set by the National Assembly.

It is necessary to increase the quality ofgrowth with higher labour productivity and improved environmental indexes, anddevelop an autonomous economy.

Localities and ministries need to adopteffective tools to promote sustainable economy, including ensuring macroeconomic stability, and push ahead with economic restructuring in an effectivemanner in line with building an incorruptible apparatus.

He reminded localities to continue payingattention to addressing natural disaster consequences, reducing poverty, and practicingthrift practices.

Maximal efforts are needed to mobilise socialinvestment to make up 34 percent of the GDP in 2018. At the same time is thoroughly selecting FDI projects, resolutely rejectingones that pose high risks of environmental pollution, he stressed.

To increase the country’s export turnover by 10percent and develop the national brands, the PM requested to expand new marketsand tighten imports and apply commercial protection measures, especiallyregarding cross-border trade.

Pinning a lot of hope in agriculture, the PMasked the sector to double efforts to gross 40 billion USD in export turnover.

Coastal provinces in the central and southernregions must strictly handle fishermen committing illegal fishing, he demanded.

Tourism and services are other fields that thePM believed to develop stronger in 2018. Vietnam strives to welcome 15-17million international tourists in 2018 and 20 million overseas holidaymakers by2020.

To realise the goal, the tourism sector shoulddevelop infrastructure, ensure safety and security for visitors, he suggested.

He tasked economic groups and State-runcompanies to accelerate reshuffle and equitisation, citing the successfuldivestment at the Vietnam Dairy Products Joint Stock Company and the SaigonBeer, Alcohol and Beverage Corporation (Sabeco).

The PM also directed to ensure the supply ofessential goods for people during Tet (Lunar New Year), especially in floodprone areas.

At the conference, the PM underlined thecountry’s remarkable accomplishments in various fields such as external affairs,agriculture, import-export, services, foreign investment, tourism, and publicdebt restructuring. 

Governor of the State Bank of Vietnam Le MinhHung said based on the directions and orientations of the Government, the bankadopted synchronous and flexible monetary management tools to stabilise themarket and curb inflation at a low level. 

The bank has reduced the interest rates by 0.25percent per annum. On that basis, credit institutions reduced their short-termlending rates by 0.5 percent per annum for priority sectors.

One of the prominent achievements of the SBV in2017 was it has bought a large amount of foreign currency, raising the State'sforeign exchange reserves to nearly 52 billion USD, the highest ever,contributing to strengthening confidence of investors and businesses, andincreasing prestige and national potential.-VNA