(VOVworld) -  Socio-economic development was the focus of the government’s monthly meeting for August, held on Wednesday. The Ministry of Planning and Investment reported that so far this year, Vietnam’s consumer price index (CPI) has increased by 1.91% year-on-year. Vietnam has thus far collected a state budget of 27 billion USD, 59.5% of its target for 2016. Foreign direct investment (FDI) has totaled 14.4 billion USD.

Prime Minister Nguyen Xuan Phuc chairs the government's monthly meeting for August. (Photo: VOV)

Prime Minister Nguyen Xuan Phuc urged ministries and sectors to design policies and plans of action to boost Vietnam’s socio-economic development. Vietnam has inched up three notches to rank 90^th among 189 countries around the world in terms of business environment, for which Vietnam is currently fifth among the ten countries of ASEAN, and aims to join the top four.

Prime Minister Phuc said: “I have ordered ministers to review the economy to help the government decide its priorities. The review should be done as soon as possible with publicity, transparency, and firm determination against corruption and factional interests. The most important task is properly balancing the national interest with the interests of businesses”.