The Prime Minister presides over the regular Government meeting in April.

In his opening remarks, Prime Minister Pham Minh Chinh stated that the purpose of this meeting was to assess the socio -economic situation in April and the past four months; to evaluate the key priorities of leadership and management; to analyze and assess the achievements, what has stagnated or declined, and what difficulties and obstacles exist. The meeting also aimed to analyze the objective and subjective causes, especially those stemming from our leadership, direction, and management, and to draw lessons learned.

The Prime Minister chaired the regular government meeting for April.

The Prime Minister raised the question of whether the achievements of the past period were due to our close grasp of the situation and timely and effective policy responses. The Prime Minister also emphasized the lesson of upholding individual responsibility, especially that of ministers, heads of agencies, and members of the Government ; the issue of strengthening supervision and inspection must be implemented "early, from afar, from the grassroots, right from the beginning," preventing small violations from accumulating into large ones, "wasting time, money, and human resources." According to the Prime Minister, looking back at many recent cases shows that supervision and inspection work has been ineffective.

The Prime Minister stated that in the coming period, we must accurately predict any new or unexpected developments in May and the second quarter. From there, we must formulate fundamental, long-term tasks and solutions, as well as immediate solutions, to fulfill the 2024 objectives as outlined in Resolution 01/NQ-CP; addressing long-standing and unresolved issues, especially those that have dragged on for two or three terms, while some issues are resolved much more quickly than others. The Prime Minister urged all levels, sectors, and localities to prioritize completing each task thoroughly, given limited time, resources, high demands, and a large workload. He emphasized key priorities for May, such as preparing for the Central Committee meeting and the upcoming National Assembly session; and addressing unexpected and sudden issues like droughts and floods.

The Prime Minister delivered a speech at the session.

Reporting at the session, Minister of Planning and Investment Nguyen Chi Dung stated that the socio-economic situation in April continued to improve positively, generally better than March and the first three months of the year; overall, the first four months of 2024 achieved better results than the same period in 2023 in most areas. In particular, the economy continued to maintain positive development momentum in all three sectors: agriculture, industry, and services.

Industrial production in April increased by 0.8% compared to March and by 6.3% compared to the same period last year; the overall increase for the first four months was 6.0%; of which the manufacturing sector increased by 6.3%. Some localities experienced high growth in the manufacturing sector, such as Phu Tho (29.6%), Bac Giang (24.1%), Ha Nam (15.5%), and Binh Phuoc (15.2%).

The service sector continued to grow at a relatively high rate; total retail sales of goods and consumer service revenue in April increased by 2% compared to March and by 9% compared to the same period last year; overall, the increase for the first four months was 8.5%. The Purchasing Managers' Index (PMI) in April reached 50.3 points, with a strong increase in new orders.

The macroeconomic situation is stable, inflation is under control, and major balances are ensured. The consumer price index (CPI) in April increased by 0.07% compared to March; the average increase over the first four months was 3.93%.

Deposit and lending interest rates continued their downward trend; exchange rates were managed proactively, flexibly, and promptly. Major balances were ensured, including: revenue covering expenditures; exports covering imports; energy and food security guaranteed; rice exports reached over 3.2 million tons, with a value of 2.08 billion USD, increasing by 11.7% and 36.5% respectively compared to the same period; and labor supply and demand were ensured.

Exports continued their positive trend, with an increasing trade surplus, contributing to the balance of payments and exchange rate stability. In April, total import and export turnover was estimated at US$61.20 billion, a 15% increase compared to the same period last year. For the first four months of the year, total import and export turnover reached US$238.9 billion, a 15.2% increase, with exports increasing by 15% (domestic exports increased by 21%, higher than FDI exports which increased by 12.9%); imports increased by 15.4%; and the trade surplus reached US$8.4 billion.

The tourism sector has recovered strongly, exceeding pre-pandemic figures; international visitors in April reached nearly 1.6 million; the total for the first four months reached 6.2 million, a 68.3% increase compared to the same period in 2023.

State budget revenue increased sharply, and the financial and budgetary situation continued to improve significantly; development investment continued to achieve positive results, creating momentum to boost economic growth. Disbursement of public investment capital in the first four months reached 17.46% of the plan, higher than the same period last year (15.65%). Foreign direct investment (FDI) attracted reached US$9.27 billion, an increase of 4.5% compared to the same period last year; implemented FDI capital reached US$6.28 billion, an increase of 7.4% compared to the same period last year, the highest in recent years.

Government members speak at the session.

Business development continues its positive trend; cultural and social fields are prioritized; social security is ensured; people's lives are improved; administrative reform is accelerated, especially the reduction and simplification of administrative procedures; the fight against corruption and negative practices is intensified, contributing to strengthening people's trust. Political and social stability is maintained; national defense and security are upheld; social order and safety are ensured; foreign relations and international integration are promoted; and the country's prestige and position are enhanced.

Many international organizations and experts continue to highly appreciate the results and prospects of the Vietnamese economy. The ADB forecasts Vietnam's growth at 6% in 2024, HSBC forecasts 6.3%, and Standard Chartered Bank forecasts 6.7%. The business environment ranking has improved by 12 places. The global innovation index ranks 46th out of 132, up 2 places. The happiness index ranks 54th, up 11 places compared to 2023.

vov.vn

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