During a teleconference in Hanoi reviewing the finance-budget work last year and launching 2020 tasks, PM Phuc lauded the finance sector’s achievements in 2019, saying that all localities met targets on State budget collection for the first time, making important contributions to macro-economic stability.

The Finance Ministry also worked with relevant ministries, agencies and localities to direct prices, especially those of electricity, he said, adding that it cut over 2,100 procedures, thus improving business environment regarding taxation and customs.

However, public investment disbursement remained slow, meeting 81.8 percent, 75.8 percent and 73.5 percent of the respective 2017, 2018, 2019 plans set by the National Assembly.

He requested removing difficulties in the restructuring, equitisation and divestment in State-owned enterprises, as well as cracking down on violations in land, natural resources and procurement.

In order to achieve the goal of being among the top ASEAN countries in terms of the business environment, he asked for continued reform to move up 10 places in business environment rankings this year.

Amid complicated developments in the world this year, the leader suggested that the Finance Ministry pool resources for the nation and achieve the goal of earning US$300 billion from exports this year.

The sector was also asked to tackle barriers to production and trade.

As of December 31, the State budget collection surpassed VND 1.54 trillion ($66.9 million ), up 9.79 percent by the estimate and 8.7 percent from 2018.

Local budget collection topped VND106.2 trillion while all the 63 cities and provinces recorded higher revenue to the State budget than estimate.