Prime Minister: Forecast and analyze the possibility of a world trade war this year

If a global trade war breaks out, it will disrupt supply chains and narrow export markets.

Prime Minister Pham Minh Chinh chairs the regular Government meeting in January 2025. Photo: Nhat Bac

On the morning of February 5, Prime Minister Pham Minh Chinh chaired the regular Government meeting for January 2025. According to the agenda, the meeting will discuss and give opinions on the socio -economic situation in January and the implementation of Resolution 01 of the Government, building growth scenarios for localities; the situation of public investment capital allocation and implementation of 3 national target programs; the direction and administration of the Government and the Prime Minister and key tasks in the coming time.

Speaking at the opening of the meeting, Prime Minister Pham Minh Chinh said that recently, the Central Government has set a GDP growth target of at least 8% in 2025, creating momentum, creating force, and creating momentum for double-digit growth in the following years. Delegates contributed additional opinions on solutions to achieve this target.

The Prime Minister directed that, with the target of GDP growth of at least 8% in 2025, ministries, branches and localities must have new growth targets and submit them to competent authorities for approval for implementation. At the meeting, the Government will approve the assignment of growth targets to localities.

Along with that, the world and regional situation is evolving very unpredictably, directly affecting our country, especially exports, production, business, and the macro economy. The Prime Minister asked delegates to forecast and analyze closely the situation in February and the coming time, especially new issues, emerging issues, such as the possibility of a trade war in the world, which, if it happens, will disrupt supply chains and narrow export markets; from there, propose our solutions to respond quickly, promptly, not passively, unexpectedly, not miss opportunities and maintain momentum, keep the rhythm, maintain the existing spirit to continue developing.

The Prime Minister suggested a number of solutions such as continuing to focus on renewing traditional growth drivers and promoting new growth drivers; continuing to expand and diversify markets, products, and supply chains, especially new markets such as the Middle East and South America.

Directing a number of specific tasks immediately, the Prime Minister requested the Minister of Industry and Trade to urgently report to the Government to propose to the National Assembly at the next session a number of contents related to the mechanism and policies for building the Ninh Thuan nuclear power plant with an urgent approach; at the same time, urgently supplement and complete the guiding regulations on electricity trading on the basis of maximally absorbing comments from businesses and people.

The Minister of Transport urgently reported to the Government to submit to the National Assembly a number of related contents to implement the railway project connecting with China and remove obstacles for a number of BOT road projects.

Emphasizing the need to continue to resolutely remove institutional bottlenecks, the Prime Minister requested ministers and heads of sectors to report monthly on legal problems in their respective fields, clearly stating what the problems are, where they are, who will resolve them, etc. so that the Government can propose to competent authorities for consideration and decision.

Along with that, the Prime Minister requested ministries, branches, agencies and localities to continue to resolutely implement Resolution 18 of the Central Committee on streamlining the apparatus, not to interrupt work; actively direct from the beginning of the year to immediately start production and business, strive to complete the tasks and goals of each month and each quarter; complete the goal of having at least 3,000 km of expressway in 2025, operating Tan Son Nhat T3 terminal on April 30, 2025, basically completing Long Thanh airport phase 1 in 2025; more actively implement the construction of social housing, complete the elimination of temporary and dilapidated houses in 2025; well organize major holidays and important anniversaries of the country in 2025; well prepare to organize Party Congresses at all levels, towards the 14th National Party Congress.

According to the report at the meeting, in January 2025 and the first days of February, the whole country made efforts to focus on simultaneously implementing the following tasks: Streamlining and reorganizing the apparatus of the entire political system in the spirit of Resolution 18; resolutely and synchronously implementing tasks in all fields with high targets (at least 8% growth in 2025, aiming for double digits in the 2026-2030 period); taking care of people's lives during the Lunar New Year; well organizing the celebration of major holidays, especially the 95th anniversary of the Party's founding (February 3, 1930 - February 3, 2025).

Our entire Party, people and army have proactively and actively implemented the Resolutions and Conclusions of the Party, National Assembly and Government, especially Resolution 01 with the motto "Discipline and responsibility; proactive and timely; streamlined and effective; accelerated breakthroughs".

In general, the socio-economic situation in January continued its positive recovery trend, achieving important and remarkable results in many areas (although the 2025 Lunar New Year holiday lasted 9 days).

Notably, the macro economy is basically stable; inflation is controlled; growth is promoted; major balances of the economy are ensured; all three sectors of agriculture, industry and services have shown good and positive development signals right from the beginning of the year; cultural and social fields are focused; especially the Lunar New Year 2025 takes place in a joyful, warm, family-friendly, healthy, safe and economical atmosphere, ensuring that everyone and every family has a Tet; politics and society are stable; national defense and security are consolidated and strengthened; foreign affairs and international integration are promoted.

(Source: baodautu.vn)

Source: https://taichinh.nghean.gov.vn/tin-tuc-tong-hop/thu-tuong-du-bao-phan-tich-kha-nang-xay-ra-chien-trunh-thuong-mai-the-gioi-trong-nam-nay-713052