Prime Minister: Striving for GDP growth of 6.5% in the third quarter.

On the morning of July 6th, Prime Minister Pham Minh Chinh chaired the regular Government meeting for June 2024 and the online Government conference with localities.

Keep inflation below 4.5%

In his concluding remarks, Prime Minister Pham Minh Chinh generally agreed with the reports and opinions; he instructed the Ministry of Planning and Investment and the Government Office to incorporate the feedback, finalize the report and draft resolution of the meeting, and submit it to the Prime Minister for signing and promulgation as soon as possible.

The Prime Minister commended several localities with strong GRDP growth in the first six months: Bac Giang increased by 14.14%; Khanh Hoa by 12.73%; Thanh Hoa by 11.49%; Ha Nam by 10.35%; Hai Phong by 10.32%; Tra Vinh by 10.27%; and Hai Duong by 10%.

Alongside the positive and fundamental achievements, the Prime Minister pointed out existing shortcomings, limitations, difficulties, and challenges. Economic growth in some localities remains low; in particular, some key economic sectors have growth rates lower than the overall average and need to make greater efforts.

Looking ahead, the Prime Minister emphasized that in directing and managing the economy, attention should be paid to the third and fourth quarters of 2024, which are of particular importance, in order to strive to achieve the highest possible level of the 2024 plan.

"The goal is to strive for GDP growth of 6.5-7% in the third quarter, and then determine a suitable target for the fourth quarter," the Prime Minister emphasized, and requested that inflation be kept below 4.5%.

Prime Minister Pham Minh Chinh concludes the meeting on the morning of July 6 (Photo: VGP).

The Prime Minister urged against complacency, negligence, and a loss of vigilance, as well as against "being intoxicated by victory"; emphasized the need to rectify administrative discipline and order; stressed the importance of accountability for leaders; prevented avoidance, shirking, and fear of responsibility; and resolutely protected officials who dare to think and act for the common good.

Focus on removing obstacles and promoting production and business; prioritize improving the investment and business environment; unlock, mobilize, and effectively utilize all internal and external resources.

Strengthen decentralization and delegation of power; promote a proactive, positive, innovative, and creative spirit; dare to think and dare to act; closely monitor developments and respond with timely and effective policies.

In all circumstances, it is necessary to strengthen solidarity and unity; maintain political and social stability; consolidate national defense and security; promote foreign relations, international integration, and information and communication; and create social consensus.

Maintaining stability in the gold and foreign exchange markets.

Clearly outlining the key tasks and solutions, the Prime Minister first requested the synchronized, decisive, and effective implementation of the tasks and solutions set forth in all fields according to the conclusions of the Central Committee, the Politburo, key leaders, and the resolutions of the National Assembly and the Government.

Continue to prioritize promoting growth while maintaining macroeconomic stability, controlling inflation, and ensuring the major balances of the economy. Manage expansionary fiscal policy rationally, with a focus on key areas; coordinate synchronously and harmoniously, and facilitate the implementation of proactive, flexible, timely, and effective monetary policy.

Continue to regulate exchange rates and interest rates appropriately; paying particular attention to reducing lending interest rates and borrowing costs to support production and business; ensuring sufficient credit supply and increasing access to credit.

Maintain stability in the foreign exchange and gold markets. Tighten financial discipline and the state budget, strengthen revenue management, and save on expenditures; promote digital transformation, use electronic invoices, and combat tax evasion, especially from e-commerce. Continue to implement tax, fee, and land use fee exemptions, reductions, and extensions.

Regular Government meeting in June 2024 and online Government conference with localities (Photo: VGP).

The head of government called for a more decisive acceleration in the disbursement of public investment capital and the three national target programs. He also urged continued efforts to strengthen the activities of the five Prime Minister's Task Forces and the 26 Task Forces of government members; resolute reallocation of 29,900 billion VND of unallocated public investment capital; removal of obstacles to ODA disbursement; and striving to disburse over 95% of the assigned plan.

In addition, focus on renewing traditional growth drivers (investment, exports, consumption) and strongly promoting new growth drivers; diversify markets, products, and supply chains.

At the same time, it is necessary to promote the supply side of the economy, paying attention to implementing solutions to develop all three sectors: industry, agriculture, and services, especially high-tech industries and sectors with high added value, and large-scale, high-tech projects with strong spillover effects to create momentum for growth.

Urgently issue plans for implementing the planning schemes. Decisively cut and simplify administrative procedures; accelerate digital transformation, implement Project 06, and build a national data center. Continue to definitively resolve outstanding and long-standing issues and projects .

Source: https://www.nguoiduatin.vn/thu-tuong-phan-dau-tang-truong-gdp-quy-iii-tu-6-5-7-a671734.html