Vietnam among 10 nations with highest GDP growth in 2020: Top leader

Vietnam is considered one of the 10 nations with the highest gross domestic product (GDP) growth in the world in 2020 and one of the 16 most successful emerging economies, Party General Secretary and State President Nguyen Phu Trong has said.
Vietnam among 10 nations with highest GDP growth in 2020: Top leader hinh anh 1Party General Secretary and State President Nguyen Phu Trong speaks at the conference (Photo: VNA)
Hanoi (VNA) - Vietnam is considered one of the 10 nations with the highest gross domestic product (GDP) growth in the world in 2020 and one of the 16 most successful emerging economies, Party General Secretary and State President Nguyen Phu Trong has said.

Addressing an online conference between the government and centrally-run cities and provinces on December 28, the leader highlighted the success of the country in fighting the COVID-19 pandemic, affirming that this has contributed to promoting socio-economic recovery and development.

He stressed that thanks to the great determination and enduring contributions of the entire Party, people and army, Vietnam relatively comprehensively completed the objectives and tasks set out for the year, with many outstanding performances.

Vietnam is seen as a bright spot in COVID-19 prevention and control, socio-economic development, and ensuring security and social welfare, he said, adding that the country has also effectively carried out foreign affairs and international integration activities.
Vietnam among 10 nations with highest GDP growth in 2020: Top leader hinh anh 2Participants at the event (Photo: VNA)
The country’s economy grew 2.91 percent this year, contributing to an annual average GDP growth of 5.9 percent over the last five years, he said, adding that its economic size increased 1.4 times, making it the fourth-largest economy in ASEAN.

Growth quality has also been improved, with average labour productivity increasing 5.8 percent per year in the period, much higher than in the 2011-2015 period.

The country’s total trade turnover has hit over 540 billion USD, with a trade surplus of nearly 20 billion USD as well as soaring foreign exchange reserves, he added.

According to the leader, Vietnam has also made progresses in all spheres such as culture, society, health, education and training, and science and technology.

Sixty-three percent of all communes in the country have been recognised as new-style rural areas, and 91 percent of the population now has health insurance. Meanwhile, the multidimensional household poverty rate fell to less than 3 percent in 2020 from nearly 10 percent in 2015.

Vietnam among 10 nations with highest GDP growth in 2020: Top leader hinh anh 3Delegates talk to each other on the sidelines of the conference (Photo: VNA)
Vietnam ranked 42nd among 131 countries worldwide in the global innovation index and top of the group of 29 countries with the same income level. Vietnam’s ranking for sustainable development moved up 39 spots to 49th in 2020, much higher than countries at the same level of economic development.

Diplomatic activities and international integration have been maintained, achieving many important results and helping to improve the country’s reputation and position in the international arena.

Notably, a host of in-person or online meetings were organised, helping Vietnam to successfully fulfill its role as ASEAN Chair 2020, President of the 41st ASEAN Inter-Parliamentary Assembly (AIPA 41), and non-permanent member of the UN Security Council in a very difficult year.

The country completed negotiations over and signed the European Union-Vietnam Free Trade Agreement (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP).

In the context of geopolitical instability, Vietnam has clearly shown its role in strengthening friendships and cooperation and deepening trust between countries inside and outside of the region.

National sovereignty and a peaceful and stable environment have been maintained, creating favourable conditions for national development.

Party building work and the political system also recorded outstanding and impressive results, with positive changes made.

The National Assembly discussed and approved 17 draft laws and 34 resolutions during the year, while contributing ideas to 10 draft laws.

The Government and all-level administrations continued stepping up administrative reforms, especially the reform of administrative procedures, and building the e-government.

Judicial agencies have made efforts to boost judicial reforms and increase the quality, efficiency, and validity of judicial activities. Meanwhile, activities of the Vietnam Fatherland Front and socio-political organisations continue to move forward, thus contributing to enhancing social consensus and promoting the strength of the great national unity.

Though several targets set at the beginning of this year could not be reached, 2020 is nonetheless viewed as Vietnam’s most successful year in the last five years, with important results and achievements recorded, the leader said.

He went on to say that such results have contributed to the comprehensive achievements of the 12th tenure of the Party as well as those in the country’s 35-year-old renewal process.

Regarding orientations and tasks for 2021, the top leader stressed that 2021 is of great significance as the country will hold the 13th National Party Congress, carry out the congress’s Resolution, and elect deputies to the 15th National Assembly and the People’s Councils at all levels.

He asked the Government, local administrations, and the entire political system to actively implement the 13th National Party Congress’s Resolution as well as resolutions of the Party Central Committee, the National Assembly, and the Government through specific and feasible programmes and plans.

The leader ordered the implementation of annual plans as well as the five-year plan for 2021-2025 in line with the 10-year strategy for socio-economic development based on the 13th National Party Congress’s Resolution./.
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