Hanoi (VNA) – Deputy Prime Minister Truong Hoa Binh presented the Government’sreport on the implementation of socio-economic development in the first quarterof 2019 and measures for the remaining months of the year at the openingmeeting of the 7th session of the 14th National Assembly on May 20.

Accordingto the report, the country’s GDP in the first three months of 2019 expanded by 6.79percent.

The agricultural sector saw an increase of 2.68 percent, with prominent growth inthe fishery sector at 5.1 percent – the highest level compared to the sameperiod of the last nine years.

Totalsocial investment capital in the first quarter of 2019 increased by 8.8 percent,in which non-state investment increased sharply.

In the last four months, newly-registered and added foreign direct investment (FDI)capital reached 7.5 billion USD, up 28.6 percent. The disbursed capital isestimated at 5.7 billion USD, up 7.5 percent.

Accordingto the report, more than 43,000 new enterprises were established and over 17,000businesses resumed operations in the reviewed period. Total newly andadditionally registered capital reached over 1.4 quadrillion VND. ThePurchasing Managers' Index (PMI) has always been at a high level, belonging to agroup of leading countries in the region and the world.

Deputy PM Binh, however, pointed out several shortcomings, saying that the macro-economyhas not been really stable due to unpredictable price of crude oil, tradeconflicts, and geopolitical tensions in many countries.

The disbursement of public investment capital in many ministries, sectors, andlocalities still remains slow, while equitisation and divestment in state-ownedenterprises have not met requirements, he said.

Management of public assets, land, and natural resources has been inadequate,he said, adding that growth of some sectors has slowed down.

He affirmed that the Government is determined to consolidate the nationalmacro-economy, ensure major balances of the economy, and promote growth.

Attentionwill be paid to drastically restructuring the economy in association with renovatingthe growth model; improving the productivity, quality, efficiency, andcompetitiveness of the economy; promoting administrative reform, inspection,settlement of complaints and denunciations, and the fight against corruptionand waste; and improving the effectiveness of foreign affairs and internationalintegration.

The Government will continue with efforts to improve the material and spirituallife of the public, management of natural resources, environmental protection,disaster prevention, and climate change response.

Whilereading a verification report, Chairman of the NA's EconomicCommittee Vu Hong Thanh said the committee agrees with measuresfor 2019 mentioned by the Government in the report.

He asked for more attention on other missions and solutions, including the timelycompletion of law projects to submit to the NA; reducing administrativeprocedures in a stronger manner.

The Government needs to devise measures to remove difficulties and obstacles tospeed up the disbursement of public investment capital; accelerate the progressof key national projects; continue to review commitments in new-generation freetrade agreements (FTAs) and international treaties; and soon adjust investmentattraction policies to lure high-quality FDI inflows, Thanh said. –VNA