Economic growth in each quarter is higher than the previous quarter, Vietnam is a bright spot of the global economy.

On the afternoon of January 5 in Hanoi, the Government Office held a regular Government press conference for December 2023. Minister, Head of the Government Office Tran Van Son, Government Spokesperson, chaired the press conference.

Minister, Head of the Government Office Tran Van Son, Government Spokesperson chaired the press conference.

GDP for the whole year 2023 increased by 5.05%

Minister Tran Van Son said that today, in the exciting atmosphere of the first days of the new year 2024, the Government held a national online conference to summarize the work of 2023 and deploy the work of the Government and local authorities in 2024, a year of important significance in implementing the 5-year socio-economic development plan, 2021-2025.

Discussing at the Conference, leaders of the Government, ministries, branches, localities, and delegates agreed that: In 2023, the world situation continues to change very quickly, complicatedly, unpredictably, many new problems arise, beyond forecast. In the country, opportunities, advantages and difficulties, challenges intertwine, but difficulties and challenges are more numerous.

The Government, all levels, sectors and localities must carry out an increasingly large volume of regular work with increasingly high requirements; at the same time, handle many urgent and unexpected matters that arise and must continue to resolve the backlog and limitations that have lasted for many years and are becoming more and more obvious in the face of difficulties.

Minister and Head of the Government Office Tran Van Son said that the socio-economic situation continued to recover positively and achieved many outstanding results in all fields.

In the above context, closely following the Resolutions and Conclusions of the Party, the National Assembly, the Government, the Prime Minister, ministries, branches and localities have closely followed and proactively grasped the situation, concretized the policies and guidelines of the Party and the State and proactively, flexibly, resolutely, creatively and effectively directed the tasks and solutions. Thereby, the socio-economic situation continued to recover positively and achieved many outstanding results in all fields.

The macro economy is basically stable, inflation is under control, and major balances are guaranteed. The average consumer price index in 2023 increased by 3.25%. The monetary market, exchange rate, and foreign exchange are basically stable, and the interest rate level decreased by about 2% compared to the end of 2022. The state budget deficit, indicators on public debt, government debt, and national foreign debt are lower than the allowable limit. Major balances are guaranteed: State budget revenue exceeds 8.12% of the estimate; trade surplus is 28 billion USD; export of more than 8.3 million tons of rice; energy security is guaranteed; labor supply and demand are basically guaranteed.

Notably, economic growth in the following quarter was higher than the previous quarter. Although it did not reach the set target, it was a bright spot in the global economy. GDP for the whole year of 2023 increased by 5.05%, among the highest in the region and the world. All three regions developed well; agriculture increased the highest in over 10 years; industry recovered well; services developed vigorously, tourism recovered, welcoming 12.6 million international visitors - far exceeding the target of 8 million visitors.

Development investment continued to achieve positive results. Total social investment capital increased by 6.2%; disbursement of public investment capital reached 95% of the plan, higher than the same period (91.42%); FDI attraction reached 36.6 billion USD, up 32.1%; realized FDI capital reached 23.18 billion USD, the highest ever.

Reporters attending the press conference.

Investment in developing the transport infrastructure system has been promoted and is a bright spot in 2023. In early 2023, 12 North-South expressway projects were simultaneously started, 9 projects were inaugurated in the middle of the year, and 4 important transport projects were simultaneously inaugurated at the end of the year; since the beginning of the term, nearly 730 km have been put into operation, bringing the total length of expressways nationwide to nearly 1,900 km.

Institutional building and improvement work was focused on; the investment and business environment and competitiveness were improved; anti-corruption, negativity and waste were promoted. The Government organized 10 thematic meetings on law-making, the most ever. Planning work was focused on; regional linkages and regional coordination were strengthened; 109/111 plans have completed preparation, appraisal and approval.

Many outstanding and sudden problems were dealt with decisively and effectively, with clear changes. Focusing on handling 6 weak banks; 8/12 projects and businesses that have been making losses for many years; completing and putting into operation many large and important power projects after a long interruption. Focusing on removing difficulties for the real estate market and corporate bonds and achieving initial results.

Focus on cultural development, ensuring social security, improving people's lives; all social indicators are achieved and exceeded, demonstrating the good nature of our regime. The poverty rate according to multidimensional poverty standards decreased by 1.1% to 2.93%; the health insurance participation rate reached 93.35%... Politics and society are stable, national defense and security are maintained, social order and safety are guaranteed; foreign affairs and international integration are comprehensively successful and are the outstanding highlights of 2023.

Many prestigious international organizations highly appreciate the results and prospects of our country's economy and predict that Vietnam will recover quickly in the near future. Fitch Ratings upgraded Vietnam's long-term national credit rating to BB+ (from BB), with a "Stable" outlook. Vietnam's national brand value reached 431 billion USD, up 1 place to 32nd out of 100 strong national brands in the world...

There are still many shortcomings, limitations, difficulties and challenges that need to be overcome and resolved in the coming time.

According to Minister Tran Van Son, at the conference, Prime Minister Pham Minh Chinh noted that we should not be subjective or complacent because there are still many shortcomings, limitations, difficulties and challenges that need to be overcome and resolved in the coming time, such as: (i) The world situation continues to develop in a complicated and unpredictable manner, affecting our country; (ii) The international market is narrowing, production, business and credit access are difficult; (iii) High-quality human resources are still limited; (iv) The lives of a part of the people are still difficult; (v) Security, order and social safety in some areas are complicated...

Prime Minister Pham Minh Chinh emphasized: 2024 is a breakthrough year, of special importance in successfully implementing the 5-year Plan 2021-2025 and according to forecasts and assessments, the situation in 2024 will continue to be difficult and may be more difficult than in 2023.

Therefore, all levels, sectors and localities need to closely follow the Conclusions and Resolutions of the Central Committee, the National Assembly and the Government, concretize and implement specific goals and tasks in 2024 with the theme: "Discipline, responsibility, proactive and timely, accelerating innovation, sustainable efficiency" with the spirit of "highest determination and highest efforts to achieve the best results in 2024".

Source: https://www.congluan.vn/tang-truong-kinh-te-quy-sau-cao-hon-quy-truoc-viet-nam-la-diem-sang-cua-kinh-te-toan-cau-post279852.html