Deputy PM: public investment, national infrastructure key for 2019 economy

Deputy Prime Minister Vuong Dinh Hue has said that clearing barriers to national infrastructure work and placing a focus on public investment allocation are important tasks for the Vietnamese economy in 2019. 

Speaking at a teleconference held in Hanoi on January 16 to review the Ministry of Planning and Investment (MPI)’s 2018 activities and launch its 2019 tasks, the Deputy PM said the year ahead is especially important to realising the 2016-2020 socio-economic development plan, requiring the economy to make more powerful acceleration as it prepares to enter the new decade. 

He assigned the MPI to devise the 2020-2025 mid-term public investment policy to submit to the National Assembly for consideration during this tenure. 

The official reminded the General Statistics Office to publish a white paper on the Vietnamese business situation in the first quarter of the year, in order to improve the quality of institutional reform and fully tap opportunities arising from the Fourth Industrial Revolution. 

2018 was the first year that all the targets assigned by the NA were met and surpassed, along with a gross domestic product (GDP) growth of 7.08 percent – an 11-year record and higher than forecasts by domestic and foreign organisations. The consumer price index was also curbed at 3.54 percent, while growth quality improved. 

The Government recently issued Resolution No.01/NQ-CP on measures to carry out the socio-economic development plan and State budget projection for 2019, reflecting the determination to continue the course of reform and high consensus in the Cabinet. 

Minister of Planning and Investment Nguyen Chi Dung vowed to closely follow the Government’s motto of discipline, integrity, action, creativity, acceleration, and effectiveness, adding that focus will be placed on synchronously taking measures set in resolutions by the Party Central Committee, the NA, and Government, particularly Resolution No.01/NQ-CP dated January 1, 2019. 

Accordingly, the MPI will closely monitor the macroeconomic situation and developments in sectors under its management towards achieving a GDP growth of nearly 6.8 percent and curbing the CPI below 4 percent. 

It will also take stern action on public investment allocation, effectively use public assets, and closely monitor public investment disbursement in ministries, agencies, and localities, thus enabling it to offer timely suggestions to the Government and the Prime Minister. 

In order to fulfill the 2019 socio-economic targets, representatives of localities suggested that the MPI continue refining socio-economic development schemes and building decrees that guide law enforcement. 

Several opinions proposed that provincial People’s Committees should be empowered to decide on investment in industrial zones which are being planned, as approved by the PM.

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