VietNamNet Bridge - GDP is usually considered an important factor that shows the health of the economy in Vietnam. GDP is usually considered an important factor that shows the health of the economy in Vietnam. Tuan said the high contribution of investments in infrastructure to the GDP at 5.7 percent is normal as Vietnam is a developing country. RELATED NEWS Vietnam’s GDP still relies on price of oil Logistics expected to make up 8-10 percent of Vietnam’s GDP by 2025 Kim Chi … [Read more...] about Is GDP an important index to measure economic development?
Measuring economic development
(VOVworld) - The global economic downturn and complicated developments have exposed great challenges to Vietnam in making policy and managing its socio-economy. The 4th session of the 13th National Assembly has reserved much of its time to discussing measures to boost socio-economic development for the remaining months of this year and next year. The session focuses on solving bad debts, inventory goods, boosting consumption, restructuring state-owned enterprises and banks, and drastically reforming tertiary education. Curbing inflation and stabilizing the macro-economy are the Government’s ultimate tasks. The deputies said the Government should harmoniously combine financial and fiscal policies to gradually reduce credit interest rates, clear bad debts, stabilize the exchange rate, and keep public debt at a safe level. They support the Government’s plan to form a National Committee to resolve bad debts. Tran Hoang Ngan, a NA deputy from Ho Chi Minh City said: "It’s … [Read more...] about Stronger policies needed for socio-economic development
Building confidence is key to solving economic development issues, said former governor of the State Bank of Viet Nam Cao Sy Kiem in an interview with Tien Phong (Vanguard) newspaper. What measures, already in place, should be continued to manage next year's socio-economic development? Our first priority should be to continue tightening fiscal and monetary policy, improving the efficiency of the national economy and strengthening management and supervision to minimise risk and losses. The Government should invest in underprivileged provinces to ensure social stability. It is important that the State instill confidence in people. The next step is to prepare solutions to more long-term problems and enact them in a sustainable way. I think reducing inflation, stabilising the macro economy and maintaining a reasonable growth rate should remain our primary tasks for next year. After that, restructuring the economy and changing the growth model are long-term missions. The market and … [Read more...] about Economic development requires improved supervision, policies
Deputy Prime Minister Truong Hoa Binh speaks at the working session (Source: VNA) Thai Binh (VNA) – Deputy Prime Minister Truong Hoa Binh has asked leaders ofthe Red River Delta province of Thai Binh to take measures to effectivelyimplement its socio-economic development plan in 2018. In a workingsession with local officials as part of his visit to Thai Binh on December 21, Binhcalled for more efforts to restructure agricultural production along with steppingup the application of scientific advances and bio-technologies, and ensuring cleanproduction and sustainable development. Attention shouldalso be paid to expanding the new-style rural area building programme andencouraging enterprises to invest in the field, he stressed. The Deputy PM urged local authorities to focus on fine-tuning the businessenvironment, improving competitiveness and simplifying administrativeprocedures to attract more enterprises to the province. It is necessaryto support the development of private … [Read more...] about Thai Binh urged to focus on socio-economic development
NDO – The Government will try to address inadequacies in its operation while continuing its focus on both economic development and ensuring social security, Prime Minister Nguyen Xuan Phuc has affirmed.The government leader was speaking during a meeting with local voters in Kien An district, the northern port city of Hai Phong, to inform the voters about the results of the recent-closed 14th National Assembly (NA)’s fourth meeting.He highly praised the socio-economic achievements of Hai Phong in 2017 by highlighting its leading in attracting investment and strongly upgrading infrastructure. PM Phuc also informed voters of the country's overall results since the beginning of the year.The PM stressed that for the first time in many years, the country has completely fulfilled all 13 socio-economic targets set by the Central Party Committee and the NA, as the size of the economy has reached an equivalent of over VND5.7 quadrillion (US$250.8 billion) with a stable macroeconomy, … [Read more...] about Government focuses on both economic development and social security: PM Phuc