On the morning of October 20, at the National Conference to disseminate and implement the Resolution of the 10th Central Conference, 13th tenure, Politburo member, Secretary of the Government Party Committee, Prime Minister Pham Minh Chinh delivered a presentation on "Core contents and new points in the Draft Report on the assessment of 5 years of implementing the 10-year Socio-Economic Development Strategy 2021-2030; directions and tasks for socio-economic development in the 5 years 2026-2030 and on the socio-economic situation, state budget in 2024, plan for 2025; on the policy of investing in high-speed railway on the North-South axis; on the policy of establishing Hue city directly under the Central Government".
Previously, the 10th Central Conference of the 13th tenure resolved to approve the basic contents of the documents submitted to the 14th Congress, the planned socio -economic development plan, state budget for 2025, the 3-year state financial and budget plan for 2025-2027; the investment policy for the North-South high-speed railway project, the establishment of Hue city under the Central Government and a number of other important contents.
Growth in 2024 expected to exceed target set by National Assembly
Presenting the assessment of the socio-economic situation in 2024, estimated implementation for the 5 years of 2021-2025 and the expected plan for 2025, directions and tasks for the 5 years of 2026-2030, after analyzing the context, direction and administration, Prime Minister Pham Minh Chinh said that in the first years of his term, focusing on preventing and fighting the COVID-19 pandemic affected growth.
Therefore, in 2024, the priority will be to promote growth associated with maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy; speeding up the progress of important and key national infrastructure projects; focusing on overcoming the consequences of the COVID-19 pandemic, preventing and promptly overcoming the consequences of storm No. 3, quickly stabilizing life, restoring production and business and socio-economic activities.
Thanks to that, in 2024, in the context of many difficulties and challenges, thanks to the drastic participation of the entire political system, the efforts of the business community and people nationwide, the support of international friends, under the leadership of the Party, headed by the late General Secretary Nguyen Phu Trong and currently General Secretary and President To Lam, it is estimated that 14/15 main targets will be achieved and exceeded in 2024 (the GDP per capita target alone is approximately achieved, if the annual growth rate is over 7%, all targets will be achieved); including completing all social targets and targets on labor productivity growth exceeding the set plan.
The Head of Government reviewed some outstanding results such as stable macro-economy, controlled inflation, promoted growth, and ensured major balances. GDP growth for the whole year is estimated at about 7% (striving for over 7%), exceeding the target set by the National Assembly (6-6.5%), and belonging to the group of high-growth countries in the region and the world.
The consumer price index is lower than the target set by the National Assembly (4-4.5%), while wages and prices of some state-managed goods are still increased. State budget revenue exceeds the estimate by more than 10%; state budget deficit, public debt, government debt, and foreign debt are within prescribed limits. Energy security, food security, and labor supply-demand balance are ensured.
Infrastructure development has made a clear breakthrough, completing and putting into operation 2,021 km of expressway and 500 kV line 3 Quang Binh - Hung Yen. Focusing on developing high-quality human resources, promoting science and technology, innovation, and startups.
Have the conditions to do and determination to do high-speed railway
The Prime Minister emphasized that the high-speed railway project on the North-South axis is one of the symbolic projects in the era of national development, of strategic significance, especially important, opening up new development space and creating new resources.
Previously, there were different opinions about the project when our country's GDP was just over 100 billion USD, with per capita income of over 1,000 USD. However, now the GDP has increased many times, we have the conditions to do it and must be determined to do it.
The project has been thoroughly, scientifically and methodically researched. The Politburo has issued a Conclusion and the 10th Central Conference has issued a Resolution agreeing on the investment policy for the entire route. The implementation will be in a new way, diversifying resources from domestic and foreign sources, the central budget, local budgets, loans, bond issuance, public-private partnership, TOD model, etc.
According to the Prime Minister, recently there have been many opinions to restart nuclear power projects because this is clean electricity and has reasonable costs, and many countries in the world have been using it with safe, effective, and appropriately scaled projects.
The fields of culture, society and environment are focused; the spiritual and material life of the people continues to be improved. Nearly 700,000 billion VND has been spent on salary reform. Focus on overcoming the consequences of natural disasters and floods. To date, 2,152 billion VND has been mobilized to support people affected by storm No. 3 and about 6,000 billion VND for the emulation movement "Join hands to eliminate temporary and dilapidated houses nationwide in 2025".
Political and social stability; national independence and sovereignty are maintained; national defense and security are strengthened; social order and safety are ensured. Foreign affairs and international integration, especially high-level foreign affairs, are promoted and achieve many important results.
Economic scale in 2025 is expected to reach 500 billion USD
The Prime Minister said that based on the results from the beginning of the term to date, the estimated implementation in 2024 and the plan for 2025, the expected results of the 5-year assessment 2021-2025 of the implementation of the 10-year Socio-Economic Development Strategy 2021-2030 are as follows:
Economic growth is expected to reach about 6% per year, among the highest growth countries in the region and the world; GDP per capita will increase from 3,720 USD in 2021 to about 4,900 USD in 2025, an increase of 31.7%.
The size of the economy increased from 346 billion USD, ranked 37th in the world in 2020; to 433 billion USD, ranked 34th in the world in 2023 (according to the latest updated data of the World Bank); and is expected to be about 500 billion USD in 2025 (1.45 times higher than in 2020), ranked 33rd in the world and 4th in the ASEAN region.
Implementing three strategic breakthroughs has achieved positive results, especially in infrastructure construction; in which, by the end of 2025, the whole country will have more than 3,000 km of expressways (achieving the set target) and continuing to implement many projects for the period 2026-2030. Digital infrastructure and electricity infrastructure are invested and built nationwide.
The work of perfecting institutions and laws is directed resolutely with the spirit of reform and innovation, shifting from management thinking to development thinking; promoting decentralization, reducing administrative procedures, and reducing compliance costs for people and businesses.
Since the beginning of the term, the Government has submitted to the National Assembly 43 laws; the Government has issued 460 decrees; according to the program of the 8th Session (opening on October 21, 2024), the National Assembly is expected to issue 18 laws, 2 resolutions, and give opinions on 10 laws. Planning work continues to be promoted; regional linkages and regional economic development are strengthened.
The economic structure has shifted positively towards industrialization and modernization. Backlogged and prolonged projects and weak banks have been gradually resolved fundamentally.
Basic social security has been ensured, people's lives have been improved; over 68 million workers and 1.41 million employers affected by the COVID-19 pandemic have been supported with a total budget of nearly VND 120,000 billion. The Vaccine Fund has been launched, mobilizing tens of thousands of billions of VND to provide free vaccinations to the entire population.
The fields of culture, society, environment, administrative reform, anti-corruption and negativity have been promoted and achieved many important results, contributing to strengthening people's trust. National defense and security potential has been consolidated and enhanced; national independence and sovereignty have been maintained; social order and safety have been ensured. Foreign affairs and international integration are bright spots, contributing to maintaining a peaceful and stable environment for development, opening up opportunities for cooperation and new development directions, contributing to enhancing the country's international position and prestige.
"Overall assessment of the 5 years 2021-2025, we have achieved many important, outstanding, and quite comprehensive results, basically completing the main goals and our country has surpassed the low middle income level, the human development index has improved, the happiness index in 2024 according to the United Nations assessment increased by 11 places compared to 2023, ranking 54/143 countries and territories, creating a foundation for the next stage of higher development; contributing to proving the statement: Our country has never had such a foundation, potential, position, and international prestige as today", the Prime Minister said.
After analyzing the limitations, shortcomings, difficulties, challenges and causes, the Prime Minister pointed out a number of lessons learned:
Accordingly, firmly uphold the line of national independence and socialism in the context of complex strategic competition; firmly grasp the practical situation, proactively, creatively, promptly, flexibly and effectively respond to policies, and avoid being passive or surprised.
Promote the strength of great national unity, unity within the Party, unity among the people, national unity, international unity, especially in difficult times.
People make history, strength originates from the people, promote the great strength of the people in the cause of building and defending the Fatherland.
Combining national strength with the strength of the times, domestic strength, and foreign strength; promoting the building of an independent and self-reliant economy associated with proactive and active international integration, deeply, comprehensively, substantially, and effectively.
The Party's leadership and correct guidelines are the leading factors deciding all victories of the Vietnamese revolution.
2025 is the year of acceleration, breakthrough, and reaching the finish line
Regarding the proposed Socio-Economic Development Plan for 2025 and the directions and tasks for the 5-year period 2026-2030, after analyzing the context, leadership, direction and management viewpoints, the Prime Minister announced the goals for 2025 and the efforts to 2030.
In particular, 2025 is determined to be the year of acceleration, breakthrough, reaching the finish line, entering a new era - the era of the Vietnamese people's rise as General Secretary and President To Lam has determined; taking stability as a premise for development and development as a basis for stability; striving to achieve the highest results in the goals and targets of the 5-year plan 2021-2025. Continuing to prioritize promoting growth on the basis of maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy. Promoting the implementation of strategic breakthroughs, restructuring the economy associated with growth model innovation, improving productivity, quality, efficiency, resilience and competitiveness of the economy.
By 2030, we strive to become a developing country with modern industry, high average income, among the top 30 economies with the world's leading GDP scale, creating a solid foundation for our country to become a developed country with high income, rich, prosperous, civilized, and happy by 2045.
Some key indicators, in 2025, GDP growth is about 6.5-7% and strives to achieve a higher growth rate (7-7.5%). GDP per capita reaches about 4,900 USD. The average consumer price index (CPI) growth rate is about 4.5%...
In the period 2026-2030, the average GDP growth rate is about 7.5-8.5%/year; by 2030, GDP per capita will reach 7,400-7,600 USD.
According to the Prime Minister, the main tasks and solutions for 2025 and the 2026-2030 period include:
Firstly , focus on perfecting development institutions, improving the quality of socialist-oriented market economic institutions, both managing well and creating space for development and innovation. Promote decentralization and delegation of power according to the motto "locality decides, locality does, locality takes responsibility"; reduce administrative procedures, eliminate the "ask and give" mechanism.
Second , strongly develop science, technology, innovation and digital transformation, creating breakthroughs to improve productivity, quality, efficiency and competitiveness of the economy.
Third , continue to fundamentally, comprehensively and effectively innovate education and training; promote high-quality human resource training, including projects to develop high-quality human resources to serve high-tech development.
Fourth , promote industrialization, modernization, and economic restructuring associated with growth model innovation. Strive for an economic scale of about 780-800 billion USD by 2030.
Fifth , develop synchronous and modern infrastructure, effectively exploit new development space, take urban areas as the driving force for regional development and promote new rural construction.
Sixth , develop culture and society, achieve social progress and justice; focus on improving people's material and spiritual life and health.
In 2025, carefully prepare and organize well the country's major holidays (135th birthday of the great President Ho Chi Minh, 95th anniversary of the founding of the Party, 80th anniversary of the founding of the country, 50th anniversary of the liberation of the South, national reunification...); strive to complete the goal of eliminating temporary and dilapidated houses nationwide and create fundamental changes in social housing in 2025.
Seventh , strengthen resource management, environmental protection, proactively respond to climate change, prevent and mitigate natural disasters.
Eighth , consolidate and strengthen national defense and security, maintain social order and safety; resolutely and persistently fight to firmly protect national independence and sovereignty.
Ninth , improve the effectiveness of foreign affairs and international integration. Promote the effectiveness of the "Vietnamese bamboo diplomacy: firm roots, sturdy trunk, flexible branches" school.
Tenth , promote the building of a socialist rule-of-law state of the people, by the people, and for the people under the leadership of the Party; enhance social governance capacity; resolutely and persistently fight against corruption and negativity, practice thrift, and combat waste.
Eleventh is the solution and tasks on the state budget estimate for 2025 and the 3-year state budget and financial plan for 2025-2027; accordingly, increasing revenue, saving expenditure, promoting the leading role of the Central Government and the proactiveness of localities, enhancing the mobilization and effective use of resources for development investment, especially strategic and key infrastructure projects...
Source: https://baotainguyenmoitruong.vn/thu-tuong-phan-dau-den-nam-2030-gdp-viet-nam-dat-khoang-780-800-ty-usd-381873.html
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