(VOVworld)- Prime Minister Nguyen Xuan Phuc has called for stronger political determination to further national development. Speaking at a meeting with localities on Thursday, the Prime Minister said Vietnam will face several difficulties without renovation and reforms.

He said: “In 2017, we need to pay more attention to macro-economic stability and higher growth, restructuring the economy, reforming the growth model, increasing economic productivity, quality, efficiency and competitiveness. Otherwise, we will become backward and won’t be able to overcome challenges in socio-economic development, the environment, national defense and security and external affairs, narrow the development gaps with other countries, and escape from the middle-income trap.”

The Prime Minister assigned specific tasks to ministries, sectors, and localities: “First, we need to maintain macro-economic stability, and control inflation at under 4%.  They are the prerequisites. The Ministry of Planning and Investment, Finance, and Industry and Trade and the State Bank of Vietnam needs to take cautious steps to achieve the targets. Second, Ministries and sectors need to boost growth to achieve a GDP growth rate of 6.7%, create favorable conditions for credit access, and reform administrative procedures. Third, we need to improve policies and mechanisms”.

The Prime Minister stressed the importance of strengthening trust in the Vietnamese Dong, ensuring the purchasing power of the VND in the medium and long term, and improving the business environment.