1.
In 2012 the Vietnamese economy had to cope with perennial internal
difficulties and adverse impacts of the world economic recession, so
economic tasks became political tasks which were discussed at the
meetings of the Communist Party Central Committee, for example
maintaining and effectively utilizing more than 3.8 million ha of land
for rice cultivation, reorganizing and improving the efficiency of
State-owned companies and promoting economic restructuring.
2.
For the first time in Vietnam, the National Assembly adopted a
resolution indicating that a vote of confidence aiming at National
Assembly-approved positions would be organized from 2013. Such
activities would help improve the quality and effectiveness of the
leadership of the Communist Party and the State in the new situation.
3.
The year 2012 saw Vietnam's effective external relation activities.
Communist Party General Secretary Nguyen Phu Trong visited Cuba and
Singapore. President Truong Tan Sang visited Russia and attended the
24th APEC (Asia-Pacific Economic Cooperation) Summit. Prime Minister
Nguyen Tan Dung attended the 21st ASEAN (Association of South East
Asian Nations) Summit and the Asia-Europe Summit. Vietnam received the
heads of state and politicians from many other countries. External
relation activities in 2012 significantly contributed to improving
Vietnam's position in the international arena.
4.
The inflation rate of 2012 was the lowest in the last three years.
Curbing inflation at the rate of eight percent was a very important
success, thanks to which the macroeconomic stability was maintained,
the investment environment continued to be attractive and
sociopolitical security was maintained.
5.
Agriculture became a mainstay of the national economy. While industrial
production and construction were stagnant due to numerous difficulties,
agricultural production, including forestry and fisheries, continued to
bring into play the results of the previous years and gained remarkable
achievements.
6.
Export continued its role as the economic lever. Inheriting the
previous results, goods exports in 2012 continued to reach high growth
while trade deficit remained at the lowest level. Labor exports
continued to be maintained despite difficulties in some foreign
markets. Remittances by overseas Vietnamese reached nearly US$10
billion. Therefore, foreign exchange rate was stable.
7.
Foreign investment continued to grow with the disbursement of over
US$15 billion, including approx US$11 billion of FDI capital and nearly
US$4 billion of ODA capital. International donors pledged to provide
US$6.5 billion worth in ODA for Vietnam at the 2012 Consultative Group
Meeting for Vietnam (CG 2012). It was considered key result, ensuring
for the infrastructure development of the key investment projects in
the remaining three years of the socioeconomic development planning in
the 2011-2015 period.
8.
Ha Long Bay was recognized as a new wonder of the world and the death
anniversary of the Hung Kings festival was recognized as the world's
cultural heritage, contributing to honor development potential of the
Vietnam's tourism sector.
9.
2012 was the Traffic Safety Year achieved the highest result ever. It
was the first commemoration for victims in traffic accidents. With its
initial result, traffic accidents in 2013 would be reduced,
contributing to the civilization of Hanoi and HCMC.
10.
In addition to these above achievements and results, the Vietnamese
economy in 2012 did not reach a high growth as expected. GDP only
increased by 5.2 percent compared to the target of 5.6 percent.
However, it was considered to be a trade-off between inflation and
growth and seen as a temporary decline in order to ensure the
sustainable development of the economy and improve the quality of
growth in the coming years. Consequences from its decline led to an
increase in the number of shut-down enterprises and unemployment. 2012
was also recorded for an explosion in population./.
Source: VEN