Socio-economic development continues to achieve many positive results.

(Chinhphu.vn) - Speaking at the regular Government meeting in May 2026, held on the morning of June 3rd, Minister of Finance Ngo Van Tuan stated that, in the context of a world that continues to experience complex and unpredictable developments, especially the impact of conflicts in the Middle East, but under the decisive and coordinated direction of the Government and the Prime Minister, the socio-economic situation of our country continues to achieve many positive results.

Minister of Finance Ngo Van Tuan reports at the session - Photo: VGP/Nhat Bac

Industrial production in the first five months saw the highest increase for the same period since 2021.

According to a report by the Ministry of Finance, the industrial production index in May is estimated to have increased by more than 8.7% compared to the same period last year. For the first five months of the year, this index increased by more than 9%, the highest increase for the same period since 2021, with manufacturing increasing by nearly 9.5%.

Another bright spot in the economic picture is that total retail sales of goods and consumer service revenue in the first five months increased by more than 11%, the highest since 2024. International visitors reached nearly 11 million, the highest ever, an increase of nearly 15%. Agricultural production maintained a fairly strong growth momentum.

"However, it is necessary to note the impact of El Nino, extreme weather, heatwaves, droughts, floods, etc.; and the high cost of fertilizers and agricultural supplies," Minister Ngo Van Tuan noted, adding that it is necessary to continue focusing on the industrial, consumer, and agricultural sectors to exploit them for growth.

Regarding inflation and the supply of gasoline and electricity, the consumer price index in May increased by 0.3% compared to the previous month, the lowest in the last three months. However, May saw a 5.6% increase compared to the same period last year, with an average increase of 4.31% over the first five months.

In addition, domestic fuel prices are managed at a low level compared to the region, helping to stabilize prices. Fuel supply until the end of May basically meets demand.

However, the Ministry of Finance recommends that adjustments to electricity, education, and healthcare prices in 2026 need careful consideration to avoid a cascading impact on the overall price level. At the same time, it is necessary to strengthen price management to prevent sudden price increases during peak seasons and periods of heavy rain and storms.

Furthermore, the Ministry of Finance recommends that the Ministry of Industry and Trade work with relevant corporations to review and increase production and exploitation plans; proactively develop scenarios for regulating electricity supply, ensuring there is no electricity shortage for production and for double-digit growth.

Regarding the state budget and public investment, state budget revenue for the first five months is estimated at 1.34 trillion VND, equivalent to 53% of the projected amount, an increase of 15.3% compared to the same period last year. However, the collection progress tends to slow down, with revenue from housing and land decreasing by 4.5%.

Disbursement of public investment capital up to the end of May is estimated at 219.4 trillion VND, equivalent to 21.6% of the plan, similar in percentage compared to the same period last year and approximately 34.8 trillion VND higher in absolute terms.

Notably, registered FDI capital is estimated at over US$24 billion, an increase of 33.4%; implemented capital reached US$9.75 billion, an increase of 9.6%. Many large-scale projects by Samsung, SK (South Korea), BYD (China), etc., have been licensed in Thai Nguyen, Nghe An, Tay Ninh, etc. The Ministry of Finance recommends that localities focus on supporting investors to accelerate procedures and project implementation.

In addition, other highlights of the socio-economic situation in the first five months include: Total import and export turnover in the first five months is estimated at 445.12 billion USD, the highest ever, an increase of 25% compared to the same period last year; the number of businesses entering and re-entering the market in the first five months reached 142,600, an increase of 27.6% compared to the same period last year, higher than the number of businesses withdrawing; social welfare, health, and education sectors continue to receive attention; national defense and security are maintained; many breakthrough solutions are implemented to protect the environment; proactive measures are taken to prevent and control natural disasters, storms, and floods; and the streamlining and operation of the two-level local government apparatus continues to be promoted.

Staying committed to achieving double-digit growth.

Adhering closely to the viewpoint in Conclusion No. 18-KL/TW, which is "overcoming the difficulties of 2026 and achieving breakthroughs in the 2027-2030 period," the Ministry of Finance proposes that the operating principle for the coming period be to steadfastly pursue the goal of double-digit growth, while closely monitoring and controlling inflation to ensure macroeconomic stability.

Based on that, the Ministry of Finance has proposed several key tasks. Specifically, the Ministry will submit a proposal to the Government to extend the deadline for paying taxes and land rent, in order to support businesses and individuals.

The Ministry proposes that the Government direct ministries and localities to accelerate the disbursement of public investment while improving the efficiency of public investment, especially in the 12 ministries and localities with low or no disbursement rates, and key projects. The Ministry of Construction will lead the review and propose measures to definitively resolve the issue of supply and price of construction materials as directed by the Prime Minister, resolutely handling cases of obstruction, localized hoarding, and price gouging; and implement a regional coordination mechanism for construction materials for key projects.

Regarding monetary policy, the State Bank of Vietnam manages to ensure interest rate stability and liquidity; directs commercial banks to accelerate cost reductions, creating room for substantial reductions in lending interest rates; strictly controls foreign currency flows and bad debts; and closely monitors the balance of payments monthly.

The Ministry of Finance and the State Bank of Vietnam are working closely together to ensure liquidity for the government bond market and revise regulations aimed at upgrading the stock market to international standards.

Regarding production, business, and import-export, each ministry, locality, corporation, and state-owned enterprise closely followed the scenario, clearly identifying the potential to boost growth, especially in the 22 localities where industrial production was lower than the scenario.

The Ministry of Industry and Trade ensures the supply of petroleum and electricity for growth, promotes trade according to each industry and market, and closely monitors and addresses the trade deficit issue. It promotes consumption while enhancing the contribution of the domestic market to growth and shifting the economic structure towards a green and sustainable direction, creating a market for domestic businesses.

The Ministry of Agriculture and Environment regulates water resources for hydropower and for the production and daily life of the people.

The Ministry of Culture, Sports and Tourism has solutions to attract international tourists, especially those from Asia; and to stimulate domestic tourism during the summer in conjunction with consumer spending.

Regarding price management, the Ministry of Industry and Trade, along with other ministries, agencies, and localities, will coordinate to effectively manage prices and markets, regulate supply and demand, and strictly handle acts of speculation, profiteering, and abnormal price increases, ensuring control according to the set scenario. The Ministry of Health, the Ministry of Education and Training, and the Ministry of Industry and Trade will carefully assess the price increase roadmap for healthcare, education, and electricity services in conjunction with the inflation scenario.

At the same time, the Ministry of Finance recommends that ministries and agencies focus on the tasks outlined in Conclusion No. 18-KL/TW, with a deadline in the second quarter, especially removing obstacles for local governments at both levels, handling outstanding projects and surplus public assets, and developing the financial, credit, and capital markets.

In areas such as culture, social affairs, welfare, disaster prevention, and flood control, the Ministry of Interior, the Ministry of Ethnic Minorities and Religion, and local authorities need to monitor the impact of inflation on the people, the poor, ethnic minorities, and policy beneficiaries to provide timely and effective support; and stabilize the market for essential goods. The Ministry of Education and Training should organize the 2026 high school graduation exam and university entrance exam well; and accelerate the construction of schools in border communes.

In addition, the Ministry of Construction effectively implemented policies to develop social housing for rent. The Ministry of Interior reviewed the labor and employment situation in localities, and developed appropriate market regulation plans to prevent localized imbalances in labor supply and demand. The Ministry of Agriculture and Environment and localities flexibly operated reservoirs, proactively responding to drought, salinity intrusion, and storms, especially in the Mekong Delta.

Minh Ngoc

Source: https://baochinhphu.vn/kinh-te-xa-hoi-tiep-tuc-dat-nhieu-ket-qua-tich-cuc-102260603093948268.htm