Viet Nam’s economy is recovering slowly, but the country still faces many challenges, Deputy Prime Minister Nguyen Xuan Phuc said at the National Assembly session on May 20.

The nation met 10 of the 15 targets set by lawmakers, while three goals (GDP, job generation and the number of employees attending vocational training) were almost reached.

However, the country failed to meet targets for reducing the State budget deficiency and the number of poor households.

Phuc acknowledge that limited resources were a major impediment when it came to investing in development, national defence and security and improving people’s lives.

Moreover, the implementation of free trade agreements and international commitments presented both opportunities and obstacles, and the country faced many challenges in political security and the defence of national sovereignty and territorial integrity.

Regarding the country’s socio-economic targets for the year 2014, Phuc reiterated the government’s resolve to stablise the macro economy, improve the business environment and restructure the national economy along with changing the growth model.

Other major tasks set by the government for this year are developing culture and society, improving management of natural resources, protecting the environment, responding to climate change and continuing administrative reforms and the fight against corruption and waste.

“In 2014, Viet Nam will further beef up national defence and security while ensuring law and order. It will try to make external diplomatic activities more efficient and international integration deeper,” Phuc said.

(Source: VNS/ VOV online)