Prime Minister Nguyen Xuan Phuc made the statement when delivering a report on the results of the implementation of national socio-economic development plans for 2020 and during 2016-2020, the socio-economic development plan for 2021, and several main missions and targets for 2021-2025, at the opening session of the 14th NA’s 10th session on October 20.

The PM took the occasion to extend his profound commiserations over the enormous losses of life and property caused by the severe flooding in the central region.

He went on to say that despite numerous difficulties and challenges, Vietnam posted important and comprehensive achievements in almost all fields in the 2016-2020 period, thanks to the effort and determination of the entire Party, people, and army.

Prime Minister Nguyen Xuan Phuc.

Vietnam fulfilled and surpassed targets set for 2016-2019, with annual results always improving upon those posted a year earlier. In 2020, in the context of COVID-19, Vietnam succeeded in disease prevention and control and stepped up its economic recovery, which won international praise.

The success demonstrated the great determination, will, and action of the Party, people and army; reflected the strength of solidarity and patriotism; and consolidated people’s trust in the leadership of the Party and State, he said.

The macro economy has been stabilised, inflation curbed at a low level, and growth quality raised. Average annual growth reached 6.8 percent from 2016 to 2019. In the first nine months of this year, despite the impact of COVID-19, Vietnam posted growth of 2.12 percent - among the highest in the region and the world.

In addition to its remarkable achievements, the PM also identified several weaknesses and shortcomings, including low economic resilience, limited competitiveness and self-reliance, unsustainable multi-dimensional poverty reduction, and development gaps between regions.

In 2021 and during 2021-2025, the Government will aim for rapid and sustainable development based on maintaining macro-economic stability, stepping up the implementation of strategic breakthroughs and economic restructuring in line with growth model reform, increasing the application of science and technology, fulfilling socio-cultural development tasks, paying attention to environmental protection and disaster prevention and control, consolidating defence and security, and improving the country’s position and prestige in the international arena, the PM stated.

The Government will also continue working on the twin targets of effective disease prevention and economic recovery and development in the new normal situation, while also completing socialist-oriented market economy institutions, he added.

In this NA session, the Government submitted 12 main socio-economic and environmental criteria for 2021, including 6 percent GDP growth, a CPI of 4 percent, skilled workers to account for 66 percent of the total workforce, health insurance coverage to reach 91 percent, and forest coverage to stand at 42 percent.