Prime Minister: Achieving major goals with...

Outstanding socio-economic results

On the morning of May 6, Prime Minister Pham Minh Chinh chaired the regular Government meeting for April 2025, held right after the April 30-May 1 holiday and the opening session of the 9th session of the 15th National Assembly.

At the meeting, the Government focused on discussing the socio-economic situation in April and the first four months of 2025, and key tasks and solutions for May, until the end of the second quarter and the coming time.

Regarding the achieved results, delegates unanimously assessed that, in general, the socio-economic situation in April continued to change positively; in general, the first 4 months of 2025 achieved better results than the same period in 2024 in most areas, with 8 highlights.

Firstly, the economy continues to maintain positive growth momentum in all three sectors: agriculture, industry and services.

Agriculture quickly overcame the consequences of Typhoon Yagi in late 2024, strongly recovered, developed stably, and cultivation, livestock farming, and aquaculture all achieved positive results.

Industrial production in April increased by 1.4% compared to March and by 8.9% compared to the same period last year; the total for the first four months increased by 8.4% (same period increased by 6.3%), of which the manufacturing and processing industry increased by 10.1% (same period increased by 6.5%).

The service sector continued to grow strongly. Total retail sales of goods and consumer service revenue increased by nearly 10%. Attracting nearly 7.7 million international visitors, the highest ever, up 23.8%.

Second, the macro economy is stable, inflation is controlled, and major balances of the economy are ensured. The consumer price index (CPI) in the first 4 months increased by an average of 3.2%; State budget revenue reached over 944 trillion VND, equal to 48% of the year's estimate, up 26.3%. Total import-export turnover is estimated at over 275 billion USD, up 15%, with a trade surplus of over 5 billion USD. Energy and food security are ensured (rice exports exceeded 3.4 million tons); the labor market is active, ensuring the balance between labor supply and demand.

Third, focus on accelerating infrastructure projects; ensure completion of over 3,000 km of expressways and 1,000 km of coastal roads this year.

Prime Minister Pham Minh Chinh chairs the regular Government meeting in April 2025 (Photo: VGP)

Fourth, foreign investment attraction continued to increase; total registered FDI capital in the first 4 months reached nearly 13.8 billion USD, up 39.7%; realized FDI capital reached over 6.7 billion USD, the highest in the same period in the 2020-2025 period, showing that investor confidence has been strengthened and consolidated.

Fifth, strongly implement Resolution No. 57-NQ/TW; submit to the National Assembly 13 important draft laws to carry out this task.

Sixth, the work of preventing and combating waste received special attention; completed the review and proposed the Politburo and the National Assembly to remove obstacles for over 2,200 projects with a total capital of nearly 5.9 million billion VND (about 235 billion USD, equivalent to more than 50% of GDP) and a land use scale of about 347 thousand hectares.

Seventh, the cultural and social fields are focused on; social security is ensured; people's lives are improved. The emulation movement of the whole country joining hands to eliminate temporary and dilapidated houses has spread strongly; localities have received 2,836.8 billion VND in support, the whole country has supported the elimination of temporary and dilapidated houses for over 201 thousand houses, of which 106 thousand houses were inaugurated and over 95 thousand new houses were started.

Eighth, political and social stability; national defense and security are maintained, and national defense and security potential is enhanced.

Many international organizations continue to highly appreciate the results and prospects of Vietnam's economy; ADB forecasts Vietnam's growth at 6.6% in 2025; Standard Chartered Bank forecasts an increase of 6.7%.

Great opportunity to restructure the economy

In his concluding remarks, Prime Minister Pham Minh Chinh basically agreed with the reports and opinions at the meeting. In general, in the first 4 months of the year, the macro economy was stable, economic growth was higher than last year and higher than the previous plan, major balances of the economy were ensured, budget deficit, public debt, government debt, and foreign debt were well controlled.

The Prime Minister pointed out that difficulties, challenges and opportunities, advantages are intertwined, but difficulties and challenges are more numerous and global risks and instabilities are increasing sharply; but this is also a great opportunity to restructure the economy, restructure and diversify markets, products, supply chains, and open up new markets; at the same time, it is both a "measure" and an opportunity, gaining more experience to enhance self-reliance, self-reliance, self-improvement, building an independent, self-reliant economy, associated with active, proactive, deep, substantial and effective integration.

The spirit is to be persistent, steadfast, proactive, flexible and creative in leadership, direction and administration to achieve major, strategic goals - that is, to promote growth, control inflation, stabilize the macro-economy, ensure major balances, control public debt, government debt, foreign debt, budget deficit, develop rapidly, sustainably and inclusively, ensure social security and people's lives, consolidate national defense and security, strengthen foreign affairs and international integration, maintain a peaceful, stable and favorable environment for national development.

Regarding the group of key tasks and solutions, the Prime Minister requested that ministers, heads of sectors, secretaries, and chairmen of localities first review their assigned functions, tasks, powers, and work to overcome the limitations and shortcomings pointed out.

Continue to focus on thoroughly grasping and seriously and drastically implementing resolutions, conclusions and directions of the Central Committee, Politburo, Secretariat, National Assembly, Government, and leadership and direction of all levels.

Focus on effectively implementing the arrangement of administrative boundaries and building a two-level local government, truly shifting from a passive state to a proactive one in serving the people and businesses, cutting administrative procedures, decentralizing, and delegating power, enhancing self-reliance; perfecting, reviewing, and amending documents guiding mergers; reviewing all decentralization and delegation of power within one's own sector and proposing that the National Assembly issue a Resolution on decentralization and delegation of power; doing whatever can be done immediately.

Effectively implement the "strategic quartet" according to the four resolutions of the Politburo; promptly submit to the National Assembly the Resolution and submit to the Government the action program to implement Resolutions 66 and 68 of the Politburo.

Focus on implementing solutions to respond to the US's reciprocal tax policy. Carefully prepare plans and negotiate effectively with the US with the motto of "harmonizing interests and sharing risks" and in the spirit of protecting Vietnam's legitimate and legal rights and interests, aiming for balanced and sustainable trade, without affecting international agreements that Vietnam has participated in. Urgently sign and implement contracts and purchase and sale of goods with the US.

At the same time, implement solutions to diversify markets, products, and supply chains; improve the quality and competitiveness of goods and services, and be ready to adapt to developments in the world economy. Ensure good exploitation of the domestic market; strengthen inspection and supervision of the origin of goods. Ensure regular exchanges and appropriate support for businesses and workers affected by the new US tariff policy.

Prioritize strongly promoting growth associated with maintaining macroeconomic stability, controlling inflation, and ensuring major economic balances.

The State Bank of Vietnam shall operate monetary policy proactively, flexibly, promptly and effectively, in harmonious and synchronous coordination with a reasonable, focused and key expansionary fiscal policy; in which it shall pay attention to continuing to reduce costs, reduce lending interest rates, and enhance access to capital for people and businesses in accordance with Resolution 68 of the Politburo on private economic development and proactive, flexible, timely and effective exchange rate management.

Along with that, strengthening the management of the gold market, preventing smuggling, manipulation, hoarding, and taking advantage of the situation, the Ministry of Public Security resolutely strictly handles criminal violations; agencies urgently submit amendments to Decree 24 on gold trading.

The Ministry of Finance strengthens revenue management, strives to increase revenue by at least 15%; thoroughly saves regular expenditures to increase development investment expenditures; effectively implements policies on tax, fee and charge exemption, reduction and extension. Develops a healthy, transparent and sustainable capital and corporate bond market; promotes the issuance of corporate bonds to the public.

Focus on renewing traditional growth drivers and promoting new growth drivers. Ministries, agencies and localities pay attention to promoting social investment. The Ministry of Industry and Trade takes the lead in promoting exports and negotiating and expanding new markets; stimulating domestic consumption, promoting the campaign for Vietnamese people to use Vietnamese goods.

Promote public investment disbursement. The Ministry of Finance shall take the lead in striving to disburse 100% of the planned public investment capital; promote the role of working groups and working groups to urge, remove difficulties and obstacles, and promote public investment capital disbursement; report to the Government and the Prime Minister to take strict measures to handle ministries, branches, and localities that have not fully allocated the capital plan by March 15, 2025...

Source: https://baodaknong.vn/thu-tuong-thuc-hien-bang-duoc-cac-muc-tieu-lon-co-tinh-chien-luoc-da-de-ra-251671.html