Prime Minister Nguyen Xuan Phuc pointed out 10 highlights of this year, two of them being that 2016 was the first year of implementation of the 5-year economic plan and the first year to execute the resolution of the 12th Party Congress. Vietnamese macroeconomy is stable and the GDP is 6.21% higher than other countries in Asia. Natural disasters caused the GDP to drop by 1%, and Formosa Ha Tinh has caused the GDP drop further 0.3%.
“This year, extreme natural and chemical disasters occurred nationwide. Until today, floods and storms still threaten central Vietnam. Particularly, the agriculture and mining sectors faced a lot of difficulties. Agriculture was damaged by natural disasters while crude oil exploration declined by 1 million tonnes compared to last year”, Prime Minister Nguyen Xuan Phuc said.
According to the Ministry of Planning and Investment, if growth in the first 6 months of the agriculture, forestry and fisheries sector does not follow the trend of crude oil and coal price, the GDP can reach more than 6.8%, exceeding the target of 6.7%.
FDI reached 16 billion USD, while the trade turnover with the US reached 176 billion USD, an increase of 8.6%, higher than 8.1% of last year. However, Prime Minister Nguyen Xuan Phuc also pointed out 9 shortcomings of this year, including the ineffective projects that caused losses of billions of USD, banks that were required at 0 VND and the corruption and promotion of unqualified officers.
In 2017, the focus is to promote the spirit of innovation and the role of the government in supporting businesses.
Also this morning's meeting discussed the socio-economic development plan and state budget allocation for 2017.
