Producing earphone components at JEP Company in Kim Dong Industrial Park, Hung Yen province (Photo: VNA) Resolution No 01/NQ-CP on key measures to carry out the 2021 socio-economic developmentplan and State budget estimates outlines growth scenarios for each quarterand for each sector throughout the year.
The Government set a goal of posting growth of6.5 percent and increasing workplace productivity by nearly 4.8 percent and healthinsurance participation to around 91 percent. The rate of multi-dimensionally poorhouseholds is expected to fall by 1-1.5 percent.
With the results in the first quarter, if the growth targets in the Resolution forsubsequent quarters are reached, 2021’s GDP growth is estimated to come in at 6.37percent; exceeding the 6 percent target set by the National Assembly but still lower than the target set in the Resolution.
Minister of Planning and Investment Nguyen Chi Dung said it is necessary to urgentlyimplement the Resolution to achieve objectives in the socio-economic developmentplan in the 2021-2030 and 2021-2025 periods.
In a report submitted to the Government in January, the Ministry of Planning andInvestment (MPI) proposed that priority be given to disease prevention and controlin order to ensure the health of the citizenry and minimise the impact of the pandemicon the national economy.
It also proposed measures to promote economic growththrough the “three-horse carriage” of investment, exports, and consumption.
The banking and finance sector continues to implementsensible fiscal and monetary policies to ensure macro-economic stability and stimulateeconomic growth, cut unnecessary expenses, especially regular spending, maintaina reasonable interest rate level and improve credit quality for priority areas,and strictly control credit in areas of potential risk.
Monetaryand fiscal policies need to be assessed carefully towards developing support policies for those affected by COVID-19,especially services, tourism, and transport.
The Ministry of Industry and Trade (MoIT) is responsiblefor urgently building and implementing policies to stimulate domestic consumption,improve links between production and consumption in the supply chain, and promotethe development of distribution networks associated with the “Vietnamesegive priority to Vietnamese goods” campaign,to boost sustainable consumption demand.
It is also working to improve institutions and createfavourable conditions for the development of e-commerce and e-payments as well assupporting export enterprises to expand markets through cross-border e-commerce.
Meanwhile, the MPI also proposed continued improvementsto the quality of institutions, thus creating an open and favourable business andinvestment environment for enterprises.
Regarding the management, disbursement, and use of overseas developmentassistance (ODA), ministries, sectors, and localities must determine project prioritiesin association with ensuring reciprocal capital, and promote investment projectsin the form of public-private partnerships, to attract investment capital from theprivate sector, especially for transport infrastructure projects.
Localities have been urged to focus on promoting international cooperation, diversifyingimport and export markets, taking full advantage of free trade agreements (FTA)Vietnam has signed, strengthening defence measures, and building early warning systemsto protect domestic production and support businesses responding to trade defencelawsuits./.
VNA
