Government report on socio-economic situation

Prime Minister Nguyen Xuan Phuc mentioned some policies that the government had done with past 7 months including policies on improving the business environment, developing the start-up ecosystem, and promoting role of working group led by the prime minister.

The government is currently up to date on issuing legal documents for the first time ever.  The decrease in export revenues, difficulties in collecting state budget and large tax arrears were also included in the prime minister's report. Prime Minister Phuc also spoke frankly about the weaknesses of state-owned enterprises.

"Based on the first 9 months' statistics, and predictions for the last quarter, about 11 out of 13 targets are expected to be completed and exceeded this year, and two targets on GDP growth and export are forecasted to be approximately fulfilled. The result shows great efforts of the government and public. The government and the public also worked to support the central region to stabilise people's lives and production after severe flooding", Prime Minister Nguyen Xuan Phuc said.

In his report, Prime Minister Nguyen Xuan Phuc also stressed that the government would continue its effort to ensure macroeconomic stability, restructure the economy, encourage start-ups, and enhance the economic autonomy.

"The government is working on curbing the state budget deficit. We need to effectively manage national debts. We also have to accelerate equitisation and divestment, and establish specialist agencies to represent state capital in businesses. Improving managing skills and listing on the stock market should receive more focus", the Prime Minister said.

The Prime Minister also confirmed that the government would concentrate on improving business environment, adjusting regulations on credit guarantee with small and medium sized enterprises. He also said the government would implement online visas at the beginning of next year after being approved by the National Assembly. The government will also strive to meet business standards defined by the ASEAN-4 average.