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During a monthly Government meeting in Ha Noi, the PM said this year’s gross domestic product may top 6.7 percent and State budget collection will be 3-5 percent higher than the estimate. Public debts are expected to decrease and inflation will be kept below 4 percent.

Prime Minister Nguyen Xuan Phuc at the event.

Addressing the meeting, the leader lauded the achievements of Vietnamese athletes at the ongoing Asian Games 2018 with four golds, many silvers and bronzes. In particular, he stressed that the Olympic football team’s run to the semi-finals was a historic success for Vietnamese sport and football in particular.

He spoke highly of the Vietnam Innovation Network initiated by the Ministry of Planning and Investment, the Ministry of Science and Technology and various localities, saying it reflects the Vietnamese Party and State’s attention to talented overseas Vietnamese who want to contribute to the nation.

The leader asked Cabinet members to give opinions on 10 contents to be submitted to the legislature at a late October session.

Reviewing the economic performance in August, he said the consumer price index moved up by only 0.45 percent from July, and is forecast to be below 4 percent for the year as assigned by the NA.

Also during the month, industry posted a growth of 13.4 percent, retail expanded by roughly 12 percent and imports-exports went up 14.5 percent. There were 25 kinds of goods earning more than 1 billion USD from export, while the trade surplus hit 2.8 billion USD.

Investment using State funds climbed 7 percent, bringing the eighth-month figure to 11.3 percent. Foreign direct investment topped 19 billion USD, 11.5 billion USD of which was disbursed. Foreign investors’ purchases of shares soared 50.9 percent to 5.28 billion USD.

Foreign investors’ confidence in Vietnamese economy remains solid despite complex global developments, he said.

The PM expressed delight that there were more than 67,000 firms established in August, up 2.4 percent in volume and 6.9 percent in registered capital. Notably, some 21,000 enterprises resumed operations.

Over the past eight months, the number of poor households fell by 8.7 percent and the number of poor residents plunged by 40.4 percent. Departments and agencies also joined hands to overcome the aftermath of flooding.

National defence, security and diplomacy have been strengthened, while Vietnam’s prestige in the international arena has improved. International organisations have highly valued the country’s economic growth, he said.

As Vietnam will host the World Economic Forum on ASEAN 2018 in Hanoi in September – the most important external event this year with leaders of major economies taking part, he assigned the Foreign Ministry, departments and agencies to thoroughly prepare for the event.

Ministries and agencies were also asked to deal with several news agencies’ defamatory broadcasts hurting Vietnamese tra fish, a key earner that affects many Vietnamese lives.

Cabinet members were urged to give feedback on the socio-economic development plan for 2019 and orientations to 2019-2021.

Based on the past achievements, he suggested that this year’s growth should be 6.5-6.7 percent.

In the morning session, participants discussed mechanism building and several draft laws and documents.

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