The Ministry of Planning and Investment must fulfill the economic growth target 2019 to reach 6.8 percent.

Vice Chairman of the provincial People's Committee - Nguyen Van Ut chaired at Long An end-point bridge

Deputy Prime Minister - Vuong Dinh Hue attended and directed the meeting. Vice Chairman of the provincial People's Committee - Nguyen Van Ut chaired at Long An end-point bridge.

Speaking at the conference, Minister of Planning and Investment - Nguyen Chi Dung emphasized that the whole country has carried out the socio-economic development tasks and objectives of 2019 with much effort and overcome many difficulties and challenges to achieve encouraging results in the past 6 months. Economic growth was quite good, GDP growth rate of the first 6 months reached 6.76 percent, macroeconomic was stable, inflation was controlled, many departments and sectors had positive changes, social security was ensure, defense and security were maintained.

In the first 6 months of 2019, MPI promoted the research, advised and proposed to improve institutions and build mechanisms and policies to further enhance the effectiveness and efficiency of state management; restructured the economy, renewed the growth model, promoted economic growth and sustainable development.

Most notably in the past 6 months, the Law on Public Investment (amended) was implemented as a breakthrough in perfecting the institution of public investment, created a synchronous and unified system of public investment legislation. Since then, it improves the efficiency of state management on public investment, facilitates and removes many difficulties and obstacles in using public investment capital, facilitates the opening of investment resources for development of both the State and the private sector. The Public Investment Law (amended) will be effective from January 1, 2020.

Following the success of the Public Investment Law, the MPI is focusing on researching and speeding up the progress of finalizing the draft Investment Law by the method of public-private partnerships and the Law on Amending and Supplementing some Articles of the Investment Law and Enterprise Law.

To contribute to promoting the business environment, improving national competitiveness and supporting businesses, MPI develops and submits to the Government for promulgation Resolution No. 02/NQ-CP dated January 1, 2019 on continuing to perform the main tasks and solutions to improve the business environment, improve national competitiveness in 2019 and orientations to 2021. In addition, MPI continues to improve the legal document system on business registration, reforming regulations, promoting business freedom and creating favorable conditions for business operations.

66,958 newly established enterprises nationwide in the first 6 months of 2019

Since then, it encourages the spirit of starting up a business, reflected by the number of newly established businesses and the registered capital increased sharply over the same period last year. 66,958 enterprises were newly established with a total registered capital of VND 860,195 billion in the first 6 months of 2019, an increase of 3.8 percent in number of enterprises and an increase of 32.5 percent over the same period in 2018. The average registered capital per one enterprise in the first 6 months of 2019 reached VND 12.8 billion, up 27.7 percent compared to the same period in 2018.

Actual disbursement of public investment capital in the first 6 months was low compared to the set requirements. To promote the progress of disbursing public investment, MPI presided over a number of working missions in key areas and areas in the North, Central and South. Thereby, the MPI supervises, checks and urges ministries, branches and localities to have low disbursement rates and researches and proposes solutions to boost disbursement of public investment, contributes to boosting disbursement of capital sources and promotes economic growth.

As a standing body of the Editorial Team, assisting the Economic - Social Sub-Committee to serve the Party Congress XIII, MPI prepares and serves many activities and tasks of the Economic - Society Sub-Committee and the Editorial Team, develop a detailed Outline of the 2021-2030 socio-economic development strategy and 5-year socio-economic development plan 2021-2025 and submit to the Editorial Team and Economic - Social Sub-committee, Politburo and 10th Meeting of the 12th Party Central Committee for comments.

The MPI takes the leading roles in developing and submitting to the Prime Minister a project to establish the National Innovation Center and a draft Decree of the Government promulgating outstanding preferential and institutional mechanisms for the national Innovation Center. In the last 6 months of the year, the MPI will focus on organizing a number of events, conferences and seminars on the content of creation of innovation centers, mechanisms and networks connecting the National Innovation Center and local innovation centers.

MPI also continues to promote development cooperation with bilateral and multilateral partners to enlist foreign ODA, concessional loans and foreign non-governmental sources for socio-economic development of the nation. Since the beginning of the year, ODA and concessional loans are estimated to reach over USD 188.36 million; Accumulated disbursement is estimated at about USD 703 million.

At the conference, delegates focused on discussing the topics: Building institutions and laws; socio-economic development plans; Improving the business investment and business development environment; Regional links; Attracting foreign direct investment (FDI); the contents related to the Fourth Industrial Revolution; Public Investment Law; Orientation to develop 5-year medium-term public investment plan 2021 - 2025; Socio-economic development plan and state budget estimation in 2020; and so on.

Speaking at the conference, Deputy Prime Minister - Vuong Dinh Hue emphasized that MPI must continue to make more efforts with the motto of solidarity, innovation in thinking and ways of doing, drastically acting to fulfill the tasks and targets set out in accordance with the socio-economic development plan 2019 in the last 6 months. In particular, MPI focuses on and achieves the economic growth target of 2019 to reach about 6, 8 percent and the average consumer price increase rate is below 4 percent.

At the same time, the MPI continues to direct, run and implement synchronously solutions to speed up the implementation and disbursement of the state budget plan 2019, especially the national target programs; promptly acknowledge and submit to competent authorities to remove difficulties in implementing national target programs to fulfill the objectives and tasks in the 2019 plan./.

By Mai Huong – Translated by Duc Tam