On June 4, in his opening speech at the regular Government meeting for May 2025, Prime Minister Pham Minh Chinh outlined the world situation, emphasizing the factors of risk, uncertainty, and unpredictable developments in armed conflicts and trade competition.
Prime Minister Pham Minh Chinh delivered the opening speech at the meeting. Photo: Nhat Bac
That situation has had a significant impact on the implementation of the domestic socio-economic development plan. However, with their proactiveness and determination, the Prime Minister highly appreciated the ministries, branches and localities for synchronously implementing solutions to promote economic growth of 8% or more and respond to the new US tariff policy. Along with that, they have resolutely implemented the "four pillars" according to the very important resolutions of the Politburo .
Regarding the domestic economic picture, the Government leader stated that the macro economy continues to be stable, inflation is under control, and major balances of the economy are ensured. Growth is promoted; all three sectors of agriculture, industry, and services are developing positively. Notably, long-standing backlog projects, with a total capital of about 240 billion USD and more than 200,000 hectares of land, are being actively resolved.
In addition to the positive results, the Prime Minister frankly pointed out the shortcomings, difficulties and challenges when the pressure on macroeconomic management is still great; production and business in many fields are facing difficulties. The real estate market has not improved much; the gold market is still complicated.
The Head of Government also emphasized the complicated developments of smuggling, trade fraud, counterfeit goods, fake goods, and food safety.
Regarding recommendations and proposals from localities and enterprises, the Prime Minister requested that when receiving them, ministries and branches must resolve and respond clearly, not give general responses. According to the Prime Minister, it is necessary to be proactive and resolute in carrying out tasks to ensure growth targets.
According to the report of the Ministry of Finance at the meeting, the socio-economic situation in May and the first 5 months of 2025 continued to change positively, better than the previous month and the same period last year; this is the driving force to strive to exceed the targets and tasks in June and the coming time.
The money market is basically stable, the lending interest rate continues to be adjusted down, especially the short-term lending interest rate. State budget revenue in 5 months reached nearly 58% of the estimate, up 24.5% over the same period; State budget expenditure increased by 27.7%, thoroughly saving regular expenditure, meeting the tasks of spending on socio-economic development, national defense, security, paying due debts and regimes and policies according to regulations.
Total import-export turnover of goods in May increased sharply compared to the same period last year, with exports increasing by 14% and a trade surplus estimated at 4.67 billion USD. Disbursement of public investment capital accelerated significantly; estimated disbursement by the end of May was 199,300 billion VND, reaching 24.13% of the plan assigned by the Prime Minister.
The Ministry of Finance said that total retail sales of goods and consumer services revenue in the first five months increased by 9.7% over the same period last year. The tourism industry grew positively; in the first five months, international visitors to Vietnam reached more than 9.2 million, up 21.3% over the same period last year.
Attracting foreign direct investment (FDI) continued to be a bright spot when total registered capital in the first 5 months reached 18.4 billion USD, up 51.1%; realized FDI capital reached about 8.9 billion USD, up 7.9% over the same period.
Source: https://nld.com.vn/thu-tuong-pham-minh-chinh-thi-truong-vang-con-dien-bien-phuc-tap-196250604101233423.htm
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