Hanoi (VNA) – The year 2020 can be said to be the most successfulyear of Vietnam during 2016-2020, as the country is among the few in the world postinga positive growth rate amidst the COVID-19 pandemic, Prime Minister Nguyen XuanPhuc has affirmed.

Addressing an online conference between the Government andlocalities on December 28, Phuc said that Vietnam has to date fulfilled thetwin targets of preventing and controlling the pandemic and maintainingeconomic growth.

“Looking back on the past five years, our country is betterthan ever with high growth, everyone is benefited from developmentachievements, and the trust is consolidated. We have also assumed manyimportant roles in the international and regional arenas and successfullyorganised numerous important international events,” stressed Phuc.

He went on to say that the Party and State have pushedforward Party building and corruption prevention work, so that people’s confidencein the Party and the nation’s future has continued to be consolidated.

Thanks to the determination of the entire political systemas well as the consensus of people and businesses, the country has created morethan 1.2 trillion USD of GDP in the past nearly five years, based on a stablemacro-economic foundation.

The Government leader quoted statistics of the World Bank assaying that with an average annual economic growth of 6.8 percent during2016-2019, Vietnam made its name in the top 10 countries with the highestgrowth.

He also noted that development has become more inclusive,with the impressive performance of many localities contributing greatly to thenational growth. The national economic growth now does not depend on any singleeconomic sector, while the private sector has gradually affirmed its positionas an important driver of the country.

The State budget collection posts an impressive result,while spending is tighter and more effective, he said.


Along with economic growth, the country also recorded rapidsocial progress, with more than 8 million jobs created and people’s income andliving conditions improved.

Regarding 2021 targets, including a GDP growth rate ofaround 6 percent, the Government leader said that the targets are calculatedbased on many factors.

However, the Government leader pointed to severalshortcomings and difficulties. Economic growth fails to meet potential, while employmentof a part of population, particularly in rural areas, has not been ensured. Theaverage income level is low and instable under the impact of COVID-19.

PM Phuc noted that not all localities can find the appropriatedrivers for their growth, particularly those in mountainous and remote areas.The business sector, particularly private enterprises and small-andmedium-sized enterprises, still face many difficulties and have low competitivecapacity. Many bottlenecks remain in the national economy such asinfrastructure, human resource quality, legal and institutional reform andbusiness environment.

At the same time, the quality of education, health andsocial policies remains lower than expectations, and environmental pollutionand negative impacts of climate change are becoming clearer.

He stressed that Vietnam cannot be in the world’s leadingcountries in terms of income, but it can be the leader in several fields.

“We can do better,” he said, expressing his belief that withthe fine quality of the nation, Vietnam will advance forward more quickly./.