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Climate change, sluggish economy among numerous challenges facing Vietnam: PM

Xinhua, October 20, 2016 Adjust font size:

Vietnam is facing numerous difficulties and challenges, said Vietnamese Prime Minister Nguyen Xuan Phuc on Thursday.

Phuc made the remarks while delivering a report on the socio-economic situation of Vietnam in 2016 and task for 2017 at the opening ceremony of the second session of the country's 14th National Assembly (NA) held in capital Hanoi.

According to Phuc, climate change is occurring faster than forecast. Natural disasters including cold weather in the north, prolonged drought in south central and Central Highlands regions, unprecedented saline intrusion in the Mekong Delta, as well as storms and floods in the central region have severely affected Vietnam's socio-economic situation, especially production and lives of people.

In addition, food insecurity happens in many places, causing social upset while medical treatment in some hospitals remains weak. Little changes are seen in education quality, especially in universities and vocational training schools, making it not meet up with social demand, said Phuc.

In the first nine months of 2016, Vietnam's gross domestic product (GDP) grew 5.93 percent year-on-year, compared with that of 6.5 percent over the same period last year.

Among which, agriculture increased by 0.65 percent, much lower than 2.08 percent during the same period of 2015. At the same time, mining sector went down 4.1 percent from January to September 2016. In the nine-month period last year, mining sector climbed 8.6 percent, said the report.

Thus the report feared that Vietnam would fail to realize some of its socio-economic targets in 2016. For example, Vietnamese government estimated economic growth to stand lower than earlier target of 6.7 percent, at around 6.3-6.5 percent in 2016.

Previously, both the World Bank and the Asian Development Bank forecast the country's GDP to expand around 6 percent this year.

Meanwhile, the country's export revenue is forecast to grow 6-7 percent this year, compared to the set goal of 10 percent year-on-year, said the report.

Amid sluggish economic situation, Vietnam keeps targeting its economic growth of 6.7 percent in 2016 and curbing inflation below 4 percent.

In order to realize the goals, Vietnamese government said it would seek to stabilize macro-economy, ensure major balances of the economy, focus on removing difficulties and improving business, investment environment.

It would also conduct practical economic restructuring together with growth model transformation, increase productivity, quality, efficiency and competitiveness.

At the same time, it would be active in response to climate change, natural disaster prevention and control, environmental protection, and enhance management of natural resources, said Phuc. Endit