Prime Minister requests focus on thoroughly handling long-standing backlogs

Handling backlogs and delays, including urgently submitting a plan for compulsory transfer of remaining special control banks.

Prime Minister Pham Minh Chinh - Photo: VGP

Concluding the regular Government meeting in October 2024 on November 9, the Prime Minister emphasized that if institutional bottlenecks are removed, GDP growth can reach double digits each year in the coming decades.

This was made by the Prime Minister when in the first 10 months of this year, the economic situation achieved many positive results, with growth in all three sectors: industry, agriculture and services. Therefore, many international organizations and experts continue to highly appreciate the results and prospects of the Vietnamese economy.

Many organizations raise growth forecasts

Accordingly, Standard Chartered raised its forecast for Vietnam's GDP growth in 2024 from 6% to 6.8%, HSBC raised its forecast from 6.5% to 7%; ASEAN 3 Macroeconomic Research Office (AMRO) forecasted that in 2024 and 2025, Vietnam could have the highest growth in ASEAN 3.

However, difficulties and limitations were pointed out when the regional and international situation still had many uncertainties and risks; the pressure on macroeconomic management was still great, especially in managing exchange rates, interest rates, supply and prices of domestic goods and services.

Production and business in some areas are facing difficulties, especially input expenditure for production; the pressure to repay corporate bonds due is high. Access to credit capital is still difficult; bad debt tends to increase. Difficulties and problems in the real estate market are slowly resolved. Disbursement of public investment capital and implementation of the VND145,000 billion credit package for social housing have not met expectations.

Legal regulations are still overlapping; some detailed regulations are slow to be issued; administrative procedures are still cumbersome. Digital transformation is not uniform among ministries, branches and localities.

The lives of a segment of the population are difficult. Natural disasters, storms, floods, saltwater intrusion, landslides, and subsidence cause damage and affect people's lives. The crime situation, especially cybercrime, is still complicated.

With the viewpoint of valuing intelligence, innovative thinking, strategic vision, thinking must go earlier, vision must go further, and decisive action, the Prime Minister requested synchronous, drastic, and effective implementation of resolutions, conclusions, and instructions.

Handling persistent poor backlog

Continue to prioritize promoting growth associated with maintaining macroeconomic stability, controlling inflation, and ensuring major balances. Actively, flexibly, promptly, and effectively operate monetary policy; coordinate synchronously, harmoniously, and closely with expansionary fiscal policy.

Focus on renewing traditional growth drivers and strongly promoting new growth drivers, especially national digital transformation. Specifically, promoting FDI attraction, promoting exports, stimulating consumption, unilateral visa exemption for some countries to attract tourists, promoting capital disbursement...

The Prime Minister's viewpoint is that institutions are "the breakthrough of breakthroughs", requiring the acceleration of institutional and legal improvements and administrative procedure reforms. "We can achieve the double-digit growth target if we remove institutional barriers and bottlenecks and unleash the resources of the whole society", the Prime Minister emphasized.

Along with that is the need to completely resolve the long-standing backlog. That is the urgent need to submit a plan for the compulsory transfer of the remaining specially controlled banks; and complete the handling plan for SCB.

Resolve the difficulties in the second project of Bach Mai and Viet Duc hospitals. Complete the dossier on solutions to remove difficulties and obstacles for renewable energy projects.

Focus on cultural, social and environmental fields; ensure social security and people's lives. Strengthen the fight against corruption, waste and negativity; improve the effectiveness of foreign affairs, promote information and communication...

Source: https://tuoitre.vn/thu-tuong-yeu-cau-tap-trung-xu-ly-dut-diem-cac-ton-dong-keo-dai-20241109150028227.htm