PM: Foreign reserve totals 63 billion USD, good sign amid global uncertainty

Vietnam has achieved comprehensive socio-economic development in the first 4 months of 2018, Prime Minister Nguyen Xuan Phuc said at the government's monthly meeting on Thursday.

Mr. Phuc said the macro-economy is stable and inflation is controlled, with the consumer price index up 2.8% from last year. Foreign reserves totals 63 billion USD, and the State Bank of Vietnam bought over 32 billion USD in the last 2 years, a good sign considering the unstable global situation, he said.

Vietnam's investment environment and administrative procedures have improved, with a 50% cut in business requirements in industry and trade, healthcare, transportation, and construction. The government has prosecuted serious corruption cases, strengthening public confidence, PM Phuc said: "The government as the highest executive and administrative body has done its utmost to aggressively deal with severe corruption cases and problems of public concern. Guidelines by the Party chief, who is also head of the Central Steering Committee on Corruption Prevention and Control, and actions by the government have been applauded by the public. These are important conditions for renewing the fight against corruption and consolidating trust in the Party and State apparatus.

Pointing out challenges that need to be addressed, the Prime Minister called for stronger business development in line with the 4th industrial revolution, and lower logistics costs for businesses.

Source: VOV5