VN creates ‘legendary story’ on poverty reduction

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Mr. Lai made the point at a conference between PM Nguyen Xuan Phuc and the business community on December 23 in Ha Noi. 

The Assistant Resident Representative congratulated Viet Nam on socio-economic achievements including 7% projected GDP growth rate which is higher than forecast, 118th HDI ranking, eighth place in FDI attraction. 

Viet Nam has created a ‘legendary story’ of poverty reduction and entered lower medium income country group in 2010 after 25 years of reform. However, due to the successes, Viet Nam no longer received preferential loans since mid 2017 and found it difficult to seek credit for development especially in infrastructure and key projects.  

To achieve sustainable development goals in the context of complicated climate change, natural resources, environmental pollution, and green growth development, the business community, domestic and international investors play an indispensable role in terms of wisdom, finance, and investment. So far, the domestic economic sector contributed 40% of GDP; generated 70% of jobs. 

According to Mr. Lai, the UNDP and the Ministry of Planning and Investment are developing  Climate Business Index which provides an instrument for enterprises to assess their progress and contribution to sustainable growth and climate change; support business connection. 

The UNDP delegate proposed the State and Government provide transparent business environment for all types of enterprises and not give priority to the FDI sector and SOEs./.

By Thuy Ha