Consistently implement the goal of maintaining macroeconomic stability, controlling inflation, and promoting growth

On the morning of June 3, at the Government Headquarters, under the chairmanship of Prime Minister Pham Minh Chinh, the Government held an online regular May session with localities to assess the socio -economic situation in May and the first 5 months of 2023; the implementation of the socio-economic recovery and development program; the allocation and disbursement of public investment capital; the implementation of 3 National Target Programs; the results of planning work according to the provisions of the Law on Planning; the results of the work of the Government members who chaired and urged and worked with localities on the situation of production, business, public investment, infrastructure construction and import and export.

Attending the meeting at the Government Headquarters were Deputy Prime Ministers Le Minh Khai and Tran Hong Ha; Ministers, Heads of ministerial-level agencies and Government agencies; representatives of some Party Committees and Committees of the National Assembly . Attending the meeting at local bridges were Chairmen of People's Committees of provinces and centrally-run cities.

Opening the meeting, Prime Minister Pham Minh Chinh said that this meeting was held after the success of the mid-term conference of the Central Executive Committee and the ongoing 5th session of the 15th National Assembly, spending time discussing the socio-economic development situation. In particular, the Government recently sent 25 working delegations to work in localities to urge production, business, public investment, infrastructure construction and import and export...

The Prime Minister requested that Government members focus on discussing and carefully analyzing the achievements, especially the limitations, difficulties and challenges, especially in production and business, in order to discuss solutions to overcome them and achieve high results in the tasks in the second quarter and the last months of the year.

The situation report at the meeting showed that, in the context of the world facing many difficulties and challenges, the socio-economic situation of our country in May continued to change quite positively, contributing to improving the overall results of the first 5 months of the year and creating momentum for the following months. In particular, the macro economy continued to be stable, inflation was controlled, major balances were ensured. The average consumer price index (CPI) in 5 months increased by 3.55% over the same period, continuing the downward trend (4 months increased by 3.84%); core inflation continued to change positively. The basic monetary market was stable; lending interest rates decreased; exchange rates were stable in line with market developments; ensuring the safety of the banking system. State budget revenue in 5 months reached 48% of the estimate. Import-export turnover, export and import in May were estimated to increase by 5.3%, 4.3% and 6.4% respectively compared to the previous month; Estimated trade surplus in 5 months was 9.8 billion USD. Registered FDI in May reached nearly 2 billion USD, 2.2 times higher than the same period last year; total 5 months reached 10.86 billion USD, equal to 92.7% compared to the same period last year.

Production and business activities continued to change. Backlogged issues and obstacles continued to be focused on, the corporate bond and real estate markets initially changed positively, public investment disbursement was accelerated... actively supporting, gradually clearing cash flow for businesses, improving the economy's capital absorption capacity. Public investment disbursement as of May 31 reached over 157 trillion VND, equal to 22.22% of the plan assigned by the Prime Minister, equivalent to the same period in 2022, but the absolute number was 41 trillion VND higher; pushing a large amount of capital into the economy, supporting output for many industries and fields, and creating jobs.

In May and the first 5 months of 2023, the Government continued to focus on doing well the social security work, improving people's lives. The fields of culture, sports, tourism, and information and propaganda continued to receive attention and be promoted. Vietnam successfully participated in the 32nd SEA Games. Many cultural activities, art and political programs were organized to celebrate the Dien Bien Phu Victory, President Ho Chi Minh's birthday..., cultural activities to stimulate the 2023 tourism season. The education sector actively prepared for the National High School Graduation Exam and University and College admissions; focused on overcoming the local surplus and shortage of teachers in localities. The health sector closely monitored the developments of the COVID-19 epidemic, proactively prevented epidemics and infectious diseases, which are common in the hot season; handled and overcome the shortage of drugs and medical supplies at a number of large medical examination and treatment facilities...

National defense and security are ensured. Foreign affairs are proactively, actively, effectively and practically implemented; high-level delegation exchanges are well organized, closely linking bilateral and multilateral relations, successfully participating in many initiatives and positive exchanges recorded at the 42nd ASEAN Summit, the G7 Outreach Summit, the Future of Asia Conference in Japan, etc. This shows that Vietnam's position and role are increasingly enhanced, contributing to enhancing partnership relations, promoting economic diplomacy to promote exports, attract FDI, and international tourist markets.

However, production, business, industrial production, export, investment, FDI attraction, etc. continue to face many difficulties. Enterprises face great challenges to survive, maintain production and business, and wait for more positive opportunities from the market. Macroeconomic management continues to be under a lot of pressure, and state budget revenue in the coming time may be strongly affected due to difficulties in production, business, and investment. The labor and employment situation faces many challenges. Risks of epidemics, storms, floods, heat waves, droughts, unpredictable climate change, economic security, cyber security, and complicated school violence, etc. continue to be issues of concern.

Discussing at the meeting, the Deputy Prime Ministers, leaders of ministries, branches and localities said that in recent times, the Government and the Prime Minister have directed strongly and closely; operated flexibly and effectively, adapting to the new situation in the world and in the country. In particular, they directed members of the Government to work with localities to immediately remove obstacles for enterprises and investment projects; rectify and strengthen the responsibility in handling the work of ministries, agencies, localities, cadres and civil servants. Along with that, ministries, branches and localities have also made efforts to implement the tasks, solutions and directions and operations of the Government. Thanks to that, the socio-economic development situation has changed positively, in the context of many difficulties and challenges.

Along with analyzing objective causes due to the world situation, delegates also reflected on the fact that some regulations and administrative procedures are still complicated; some regulations are still overlapping, contradictory, inconsistent, unclear, and can be understood in many different ways, which can lead to legal risks for the implementing level; law enforcement organizations are still lacking initiative and slow to respond; a number of cadres and civil servants have a mentality of fear, fear of making mistakes, and fear of responsibility in performing public duties.

The Deputy Prime Ministers, leaders of ministries, branches and localities said that, based on the annual and entire-term targets, the growth pressure in the remaining months of the year is very large, so in the coming time, we must strive to achieve higher growth than the previous period; propose to continue to remove difficulties and obstacles and create better conditions for promoting growth, including the implementation of investment and construction projects, credit policies, tax policies, fees and charges, issues of work permits, entry and exit visas; reform of the salary regime; construction of a renewable energy center, a core technology center; early promulgation of a protection mechanism, encouraging cadres to dare to think and dare to do for the common good...

The Prime Minister frankly acknowledged the difficulties and limitations; acknowledged the opinions of the delegates; and at the same time directed and assigned tasks to immediately handle the proposals and recommendations of ministries and branches, especially those of localities, such as paying attention to the domestic market and promoting exports; speeding up the review and approval of provincial planning; resolving the issue of granting construction material mines, etc.

Concluding the meeting, Prime Minister Pham Minh Chinh said that over the past 5 months, the Government, the Prime Minister, ministries, branches and localities have seriously grasped and closely followed the Resolution of the 13th National Party Congress, the Resolutions of the Central Committee, the Politburo and the National Assembly to lead, direct and operate. In particular, the Government, ministries, branches and localities have carefully prepared, ensured quality, ensured safety and served well the Mid-term Conference of the 13th Party Central Committee and the 5th Session of the 15th National Assembly. In particular, the Government has organized 26 working delegations to 63 provinces and cities nationwide to receive more than 1,000 opinions and recommendations and on-site resolved 300 recommendations from localities.

The Government has organized many meetings, business trips, issued documents to urge, focusing on 9 groups of issues: Promoting disbursement of public investment, key national projects; reducing interest rates, restructuring debt, extending taxes; removing difficulties for the stock market, corporate bonds, real estate; promoting administrative reform, removing difficulties for people and businesses; handling difficult issues such as in the procurement of drugs, medical supplies; implementing the action program to implement the Resolution of the Politburo on developing 6 socio-economic regions; organizing national conferences on planning, export, economic diplomacy; handling outstanding and prolonged issues...

Thanks to that, in the first 5 months of 2023, the whole country continued to achieve the general goals of stabilizing the macro economy, controlling inflation, promoting growth, ensuring major balances, reducing public debt, reducing government debt, and reducing spending debt. Production, business, export, enterprises, attracting foreign direct investment (FDI), and the real estate market have initially changed. The fields of culture, society, and sports continue to develop. People's lives continue to be stable, social order and safety are ensured, national defense and security are maintained, foreign affairs and international integration are promoted.

Regarding tasks and solutions for June and the coming time, after analyzing the international and domestic situation, the Prime Minister directed to continue to consistently implement the goal of maintaining macroeconomic stability, controlling inflation, promoting growth, and ensuring major balances of the economy. Implement a firm, proactive, flexible, timely, and effective monetary policy, in coordination with a reasonable, focused, and key expansionary fiscal policy. Manage exchange rates and interest rates flexibly and appropriately; focus on directing the banking system to reduce costs, strive to continue reducing lending interest rates; ensure liquidity of the credit institution system; strictly control credit quality, and limit the occurrence of bad debts. Strengthen the management of State budget revenue, ensure correct, sufficient, and timely collection; thoroughly save expenditures, especially regular expenditures.

From the perspective of prioritizing growth promotion, the Prime Minister directed ministries, branches and localities to focus on implementing tasks and solutions to remove difficulties for production and business, support enterprises in administrative procedures, interest rates, search and expansion to new markets; promote three growth drivers including export, investment and consumption; make good use of opportunities and create new development space; continue to reform administrative procedures; apply science, technology, digital transformation, etc.

“Ministries, sectors and localities must stop shirking responsibility; persistently increase decentralization and delegation of power; encourage people to dare to think, dare to do, and dare to take responsibility,” the Prime Minister requested.

The Prime Minister also directed local leaders to base on the Resolutions of the Party, the National Assembly, the Government and Party Committees and People's Councils at all levels to lead and direct; resolutely establish planning, complete planning work in the fourth quarter; accelerate disbursement of public investment capital, implement the recovery program, 3 National Target Programs; focus on site clearance, prepare materials for key projects and works; promote administrative procedure reform at all levels of government; promote the removal of difficulties for production and business; proactively and actively review and have appropriate mechanisms for real estate and industrial projects in the area, pay attention to policies for workers; strengthen discipline and order; handle stagnation through personnel work; research social security policies and submit them to the Government for approval...

The Prime Minister assigned specific tasks to each ministry, branch and agency in: Managing interest rates, reducing lending costs, increasing access to capital for priority sectors, focusing on handling weak banks, ensuring system safety, liquidity, handling bad debts, promoting credit packages such as the VND120 trillion credit package for social housing development; strengthening budget expenditure management, saving regular expenditures, accelerating VAT refund policies, preparing additional tax exemption and reduction policies, promoting the development of the corporate bond market; promptly completing the capital allocation plan, promoting disbursement of public investment capital and 3 National Target Programs; reviewing and cutting down business conditions, creating favorable conditions for people and businesses; removing difficulties for the real estate market, fire prevention and fighting regulations; focusing on implementing the program of 1 million social housing apartments; Promote the implementation of key national projects, organize public-private partnership projects, especially the implementation of the Long Thanh International Airport project.

The Prime Minister directed the organization of large-scale industrial parks; promoted domestic consumption; expanded export markets, exploited the effectiveness of signed free trade agreements; implemented the VIII power plan and handled difficulties in implementing the VII power plan; urgently handled 4/12 remaining backlog projects; ensured food for consumption and export, removed the IUU yellow card; guided and removed difficulties related to land, resources, and environment; met labor supply and demand, proposed solutions to support workers; overcame the shortage of drugs, medical supplies, and vaccines; prepared for the new school year, especially in the issue of textbooks, and at the same time handled emerging issues such as school drugs; handed over the Hoa Lac High-Tech Park from the Ministry of Science and Technology to the Hanoi People's Committee for management; promoted policy communication, policy explanation, introduction, and replication of good models in society...

Government members; leaders of ministries, branches and localities promote the sense of responsibility, public ethics and exemplary role, proactive, dare to think, dare to do, overcome difficulties to make the country develop each quarter higher than the previous quarter, each year higher than the previous year; create a common impetus to make the country develop as expected./.

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