Prime Minister Nguyen Xuan Phuc the Cabinet meeting on April 3 (Photo: VNA) Along with a surge in the number of newly-establishedenterprises, as many as 65 percent of businesses enjoyed profit, the highestfigure in five years, and 45 percent of enterprises expanded their business inthe first quarter of this year, he noted at the Cabinet meeting on April 3.
He said that total social investment surgedover the same period last year, with the private sector recording the highestgrowth.
At the same time, the quality of investmentand business activity of the FDI sector increased, while exports were higherthan the same time last year and tourism saw rapid development.
The PM noted that in the first quarter ofthis year, 51 cities and provinces showed strong performance in governance inall fields, especially in improving the quality of services for businesses andpeople as well as investment environment.
Analysing challenges facing the nationaleconomy amidst the complicated situation in the world, especially the trend of tradeprotection, the cabinet leader pointed to two main pressures burdening thecountry: GDP growth and exchange and interest rates.
He said that GDP growth in the firstquarter was low, especially in industry.
He stressed the need to design specific growthscenarios for each sector, especially mining, construction, and mechanicsmanufacturing.Alongside, it is crucial to maintain and promote the growth of agricultureand tourism, he said.
The PM said that solutions to exchange andinterest rates should go with reining in inflation, highlighting thesignificance of appropriate management and balancing measures.
He urged ministries and localities to speedup administrative and institutional reform to better serve businesses andremove economic barriers.
At the meeting, PM Nguyen XuanPhuc alsoannounced the organisation of the second Business Conference to listen to thevoice of business community.
Regarding the equitisation of State-owned enterprises,he asked for faster results with the prevention of loss of State property.
It is necessary to create more favourableconditions for enterprises to access capital, speed up credit reform as well asbad debt settlement, promote credit growth and reduce interest rates to encouragebusiness activity, he stated.
He also asked for more effective managementof the real estate market, the promotion of domestic consumption, and measuresto remove obstacles hindering production.
After hearing a report on the fourthindustry revolution (Industry 4.0), the PM asked ministries, sectors and mediaagencies to strengthen communications to raise public awareness of opportunitiesand challenges generated by the revolution.
He urged research institutes, scientistsand exports as well as businesses and people to join hands in tapping changesof the Industry 4.0 for renovation, thus making breakthrough in socio-economicdevelopment.
He asked the Viettel, FPT groups andleading IT firms of the country to take the lead in taking advantages of therevolution for national development, while directing ministries and sectors to reviewand build their growth strategies with specific activities to graspopportunities of Industry 4.0-VNA
VNA
