PM requests striving for highest possible socio-economic targets in 2020

During the monthly Government meeting in Hanoi on June 2, the PM said thanks to effective epidemic prevention and control as well as economic recovery, Vietnam’s prestige on international arena has increasingly improved.

He noted that the US’s Economics magazine had ranked Vietnam the 12th out of 66 emerging economies in terms of financial health in early May. Recently, the US’s S&P rankings maintained Vietnam’s sovereign credit rating at BB and its outlook at “stable”.

About challenges that must be overcome in the near future, he emphasised the COVID-19 pandemic and the growing trade and technology tension between major economies. At the same time, the country’s economic growth rate was lower than expected and industrial production dropped due to disrupted supply chains. Though the country ran a trade surplus of around US$2 billion, the export of a number of products saw strong reduction due to disruptions in the global supply chain while budget deficit surged, forecast to account for about 5 percent of the gross domestic product.

PM Phuc directed staying vigilant to the epidemic, especially in major cities and populated areas.

He also required ministries, agencies and localities to step up the approval and implementation of monetary, fiscal and social welfare support packages, while carrying out the Government’s Resolution 84 on removing difficulties faced by businesses, especially small and medium-sized enterprises.

Ministries and sectors were told to accelerate public investment disbursement, particularly transportation, airport and seaport projects while stimulating domestic consumption and tourism demand, developing social housing for workers and the poor.

Regarding the issue under the National Assembly’s supreme supervision, the Government leader requested taking stronger actions to prevent child abuse and protect children’s rights.

In order to reduce pork prices, he suggested encouraging large-scale investment in pig breeding, using modern technology and launching a movement on pig breeding on the back of African swine fever combat, as well as increasing pork import.