PM Calls for Accelerated Growth in 2024-2025 with Priority Solutions
On September 7, Prime Minister Pham Minh Chinh urged ministries, agencies, and localities to implement key tasks and solutions to boost economic growth in 2024 and 2025, addressing the slowdown caused by the COVID-19 pandemic in previous years.
During a regular Cabinet meeting in Hanoi, the Prime Minister noted that the socio-economic performance in the first eight months of this year had surpassed that of the same period last year, creating positive momentum for the future.
Amid global uncertainties, Chinh acknowledged both opportunities and challenges ahead and called on ministries and localities to enhance their efforts, adopt flexible policies, and swiftly address emerging issues to meet the targets set by the Party and the State.
The Prime Minister directed the State Bank of Vietnam to focus on stabilizing exchange rates, lowering lending interest rates, and improving credit access for individuals and businesses. He also emphasized advancing the social housing credit package.
Chinh urged ministries to work together on solutions to control inflation and stabilize the market, particularly the prices of oil, gas, essential goods, housing, and food. He added that fees for education, electricity, and healthcare services should not all increase simultaneously.
The Prime Minister assigned specific tasks to key ministries such as finance, planning and investment, transport, industry and trade, and construction. He stressed the importance of renewing traditional growth drivers while fostering new ones, including digital transformation, innovation, and science and technology.
Chinh also highlighted the need to focus on social, cultural, and environmental issues and closely monitor natural disasters, particularly the approaching super typhoon Yagi. The government has set up a task force in Hai Phong to oversee storm prevention and control efforts, with ministers and deputy ministers deployed to coastal provinces and cities to assist.
The Prime Minister addressed other priorities, including the fight against corruption, leveraging free trade agreements, and accelerating negotiations for new ones. He also emphasized the importance of effective communication.
The meeting reported that the country’s socio-economic situation had improved in August and over the eight-month period. International tourist arrivals reached nearly 11.4 million in the first eight months, a 45.8% year-on-year increase. Total state budget revenue during this period accounted for 78.5% of the year’s estimate, rising 17.8% year-on-year. Public investment disbursement reached 40.49% of the plan, and foreign direct investment (FDI) inflows totaled USD 20.52 billion, with USD 14.15 billion disbursed—an 8% increase, marking the highest level in five years.
