No changes to year's growth goals

Socio-economic goals set at the beginning of the year should not be changed despite several challenges facing the country, participants at a Government meeting said yesterday.

Commenting at the conclusion of the regular half-yearly review meeting, leaders of many localities said that despite several achievements including a GDP growth of 5.18 per cent in the first half of this year, the economy was still in trouble.

They said business and production activities were still hampered, a large number of enterprises were dissolved, credit growth remained low, and disbursement of State budget and capital was slow.


The property of a number of domestic and foreign-invested firms in several localities had been damaged by some unscrupulous elements taking advantage of local workers' protests against China's illegal placement of its oil rig in Vietnamese waters, they noted.

They stressed the need for effective measures to ensure macro-economic stability and control inflation better, adding that socio-economic goals set earlier for 2014 should not be adjusted.

The meeting called for greater focus on easing difficulties for businesses by supporting market expansion, especially for export goods, facilitating capital access for prioritised sectors, and speeding up the process of restructuring State-owned enterprises.

Dang Ngoc Tung, president of the Viet Nam General Confederation of Labour, suggested that the Government pays special attention to the diversification of markets to prevent dependence on any single economy.

Resolute response

They noted that the Government have responded firmly to China's illegal placement of the Haiyang Shoyou-981 oil rig in Viet Nam's exclusive economic zone and continental shelf.

Leasers of some localities proposed that the Government takes steps to tackle unexpected negative developments in economic, trade and investment relations with China, provide special policy support for fishermen and mobilise the international community's support in safeguarding national sovereignty.

The Government needs to provide marine law enforcement agencies with more equipment to enhance their capacity, they said.

Achievements hailed

Prime Minister Nguyen Tan Dung hailed efforts by the Party, army and people in making possible the socio-economic achievements of the first half of this year despite challenges and difficulties, particularly China's illegal placement of an oil rig in Vietnamese waters.

Viet Nam had maintained high economic growth, ensured macro-economic stability, controlled inflation, kept the monetary market and foreign exchange rate stable, and increased foreign currency reserves, he said.

This had helped maintain state budget balance, boost exports and reduce poverty, he added.

Besides, Viet Nam had resolutely safeguarded its sovereignty by peaceful measures in accordance with international law while demanding that China pulls its oil rig out of Viet Nam's continental shelf and exclusive economic zone.

H2 tasks

Dung also spoke about impending tasks for the second half of this year.

He asked ministries and localities to be alert to international economic and political developments and report them to the Government.

"This is important because the economic and political situation in the world remains complicated and the country is struggling against China's actions in the East Sea," he said.

Dung re-emphasised three major goals, particularly safeguarding the nation's sea and island sovereignty and demanding that China immediately withdraws its rig Vietnamese waters.

Ministries and localities must continue to take measures to ensure normal relations, promote trade and investment ties with China for mutual benefit while considering responses to disadvantages arising in specific areas.

He asked ministries and localities to operate an independent, self-reliant and globally integrated economy while expanding markets for import and export activities and fully tapping the potential of trade agreements and international commitments.

Social order

The second goal, Dung said, was to maintain security and political stability as well social order to serve the country's construction and development.

The nation should also avoid turbulence caused by those misusing legitimate protests against sovereignty violations to break the law and damage firms' estates.

Dung said the third goal was to realise the country's GDP growth of 5.8 percent set for this year.

He instructed ministries and localities to improve the investment climate and enhance the effectiveness of State management.

They need to promote international integration and ease difficulties for businesses, while implementing sustainable poverty reduction measures, especially among ethnic minority citizens, he said.

Agricultural restructuring should be expedited and new rural areas built, he added.