Prime Minister directs not to manipulate the gold market, control inflation

According to the agenda, the session will focus on discussing the socio-economic situation in August and the first eight months of 2025; the allocation and disbursement of public investment capital; the implementation of three national target programs; the direction and management of the Government and the Prime Minister; the results of assigned tasks; administrative procedure reform; key tasks and solutions for September and the fourth quarter of 2025; and other important issues.

Fluctuations in gold prices are noteworthy.

At the meeting, the Prime Minister requested an analysis of the rising inflationary pressures, exchange rates, and interest rates; and the slowdown in domestic consumption, exports, and public investment.

Meanwhile, operating the two-tiered local government model still faces difficulties in digital transformation, data connectivity, and challenges for lower-level officials. In particular, according to the head of government , natural disasters, storms, and floods severely impact people's lives and business production.

Stating that we must develop rapidly and sustainably, and that the growth target of 8.3-8.5% this year is a difficult one, the Prime Minister emphasized that "no matter how difficult, we must do it."

According to the Prime Minister, we must continue to uphold the high fighting spirit, the spirit of the August Revolution and National Day on September 2nd. A great advantage for us is that our people are deeply patriotic, have faith in the Party and the State, and are always very creative.

The head of government directed that traditional growth drivers must be renewed, and new growth drivers must be promoted to ensure synchronous and comprehensive development.

Thủ tướng chỉ đạo không để thao túng thị trường vàng, kiểm soát lạm phát

The Prime Minister directs a number of specific tasks - Photo: VGP/Nhat Bac

The Prime Minister requested that ministries and agencies review and streamline administrative procedures, striving to reduce the time, number, and cost of administrative procedures by 30%. Along with this, they should strengthen efforts to definitively resolve outstanding projects, as this is also a solution to unlock resources for development.

Considering the significant fluctuations in gold prices, the Prime Minister stated that he has instructed relevant agencies to take action to prevent market manipulation, hoarding, and price gouging.

At the same time, according to government leaders, it is necessary to accurately assess recent developments in the stock market and determine whether there is any price manipulation or market rigging. If the money flows into the production and business sectors, that would be very good.

In his concluding remarks outlining future directions, the Prime Minister emphasized the unwavering commitment to macroeconomic stability, inflation control, ensuring major balances (in food security, budget revenue and expenditure, import and export, energy security, and labor supply and demand), promoting GDP growth of 8.3-8.5%; achieving high but sustainable growth, ensuring social security, and improving the material and spiritual lives of the people; reviewing the targets for 2025 and the five-year period 2021-2025, improving the quality and efficiency of targets already achieved, and striving to achieve those not yet met; ensuring security, safety, and stability for development, and development for stability.

Regarding some key tasks and solutions, the Prime Minister first requested a focus on thorough preparation for the 12th Central Committee Meeting, the 10th Session of the 15th National Assembly, and the Party Congress of the Government.

Secondly, we must continue to prioritize promoting growth while maintaining macroeconomic stability, controlling inflation, and ensuring the major balances of the economy. We must continue to implement a proactive, flexible, timely, and effective monetary policy, closely and synchronously coordinating with a rational, focused, and targeted expansionary fiscal policy.

Regarding monetary policy, the Prime Minister requested timely, flexible, and effective exchange rate control; stable interest rate control; and the banking system striving to reduce costs to lower lending rates, sharing the burden with the people, businesses, and the country. He also called for controlling gold and USD prices using existing tools, with relevant agencies making decisions within their authority, promptly reporting any necessary or lacking information to the Government and the Prime Minister. Furthermore, he emphasized directing credit growth towards production and business, improving people's lives, and controlling credit to prevent speculation. He also called for inspection and supervision of banks that only mobilize funds without lending or lend very little. The Prime Minister assigned Deputy Prime Minister Nguyen Hoa Binh to directly oversee this, and instructed the Government Inspectorate to strengthen inspections and supervision of the banking sector in accordance with Party regulations and laws, preventing minor violations from escalating into major offenses.

Prime Minister Pham Minh Chinh presides over the regular Government meeting in August 2025 - Photo: VGP/Nhat Bac

Regarding fiscal policy, the Prime Minister noted that special attention must be paid to disbursing public investment; mobilizing and leading social investment; and researching the issuance of project bonds. The Ministry of Finance should strengthen the management of state budget revenue and expenditure, striving to increase state budget revenue by 25% in 2025 compared to the projected figure, and aiming to disburse 100% of public investment capital according to plan.

The Prime Minister requested a focus on renewing traditional growth drivers and strongly promoting new ones. This includes boosting production, business, and exports; negotiating and signing new FTAs, especially with the Gulf Cooperation Council (GCC) and the Southern Common Market (MERCOSUR); stimulating domestic consumption and developing the domestic market. Preparations should be made for the successful commencement and inauguration of projects on December 19, 2025, with the Long Thanh International Airport Project (Phase 1) being substantially completed.

Urgently build an international financial center.

Thirdly, the Prime Minister requested the decisive, timely, and effective implementation of the Politburo's "pillar" resolutions on science and technology, innovation, digital transformation, lawmaking and enforcement, private sector development and international integration, state-owned economic development, breakthroughs in education and training, and public health care…

Fourth, urgently build the International Financial Center and free trade zones; relevant ministries and agencies should urgently finalize the Decrees to immediately implement Resolution No. 222/2025/QH15 of the National Assembly on the Center, completing it before September 15th.

Fifth, focus on resolving difficulties and obstacles, and effectively implementing the two-tiered local government model. The general spirit is to further promote the review and improvement of institutions, decentralization, delegation of power, administrative procedure reform, and digital transformation. The Central Inspection Committee has submitted a report, and the Prime Minister requested Deputy Prime Minister Nguyen Hoa Binh to direct ministries and agencies facing difficulties to implement the suggestions of the Central Inspection Committee.

Sixth, focus on resolving difficulties and obstacles for long-standing stalled projects, clearly defining responsibilities and authority in handling them.

Delegates unanimously agreed that, overall, the situation continues to show a positive trend, with each month being better than the previous one - Photo: VGP/Nhat Bac

Seventh, focus on implementing more timely and effective tasks and solutions regarding: cultural and social development; environmental protection; disaster prevention and control, and climate change adaptation; combating smuggling, trade fraud, and counterfeit goods, especially medicines and food; combating corruption, waste, and negative practices; consolidating and strengthening national defense and security; maintaining social order and safety; and strengthening foreign relations and international integration.

Eighth, the Prime Minister requested that the nuclear power project be approved soon; he assigned Deputy Prime Minister Bui Thanh Son and the Ministry of Industry and Trade, the Ministry of Science and Technology, and the Ministry of Agriculture and Environment to focus on developing a nuclear power development strategy.

Ninth, urgently prepare for the implementation of the Lao Cai - Hanoi - Hai Phong high-speed railway project; Deputy Prime Minister Tran Hong Ha is responsible for directing and preparing the Intergovernmental Committee meeting to expedite the process.

Tenth, regarding the construction of 100 sturdy boarding and semi-boarding schools in border communes, the Prime Minister instructed the Ministry of Education and Training to identify the schools, the Ministry of Construction to design the standards, the Ministry of Finance to balance the budget, and the localities to simultaneously commence construction with the spirit of primarily using the state budget while mobilizing social capital.

Directing a number of specific tasks, the Prime Minister requested ministers and heads of ministerial-level agencies to continue focusing on lawmaking, reviewing and proposing amendments to regulations; ministries, sectors, and localities to focus on reviewing, cutting, and simplifying administrative procedures related to production and business activities, ensuring a minimum reduction of 30% in administrative procedures, 30% in processing time, and 30% in compliance costs by 2025; strengthening information and communication work, especially policy communication, replicating good models and effective practices, creating social consensus and momentum to promote national development in the new era.

Source: https://baolamdong.vn/thu-tuong-chi-dao-khong-de-thao-tung-thi-truong-vang-kiem-soat-lam-phat-390280.html