Vice Chairman of the National Assembly Nguyen Duc Hai - Photo: GIA HAN
On the afternoon of February 10, the National Assembly Standing Committee gave its opinion on the submission of a supplementary project on socio -economic development in 2025 with a growth target of 8% or more.
Proposed GDP growth target of over 8% in 2025
Presenting the Government's report, Minister of Planning and Investment Nguyen Chi Dung stated that, with the special significance of 2025, the country's GDP growth needs to reach 8% or more, contributing to creating a solid foundation to achieve double-digit growth rates for a long enough period (starting from 2026). Growth must be fast but sustainable, maintaining macroeconomic stability, controlling inflation, ensuring major balances; harmonious development between the economy and society and environmental protection, ensuring national defense and security.
Regarding the growth scenario of 8% or more in 2025, the Government stated that the growth of the industrial and construction sector would be about 9.5% or more; services would increase by 8.1% or more; and agriculture, forestry and fishery would increase by 3.9% or more.
At the same time, the GDP scale in 2025 will reach over 500 billion USD and GDP per capita will be over 5,000 USD. Along with that, the average consumer price index (CPI) growth rate will be about 4.5 - 5%.
According to Mr. Dung, the condition to realize the growth scenario of 8% or more this year requires new thinking, new ways of doing things, breakthroughs in institutions, solutions, and thorough decentralization and delegation of power.
Complete the work of streamlining the organization to be lean, effective and efficient, without affecting the people and production and business activities of enterprises in the short term.
Another solution emphasized by the Government is to promote the growth-leading role of dynamic regions, economic corridors and growth poles.
In particular, the growth of localities in 2025 will be at least 8 - 10%, especially Hanoi and Ho Chi Minh City.
"Potential localities and large cities are locomotives and growth poles that need to strive for a growth rate higher than the national average," said Mr. Dung.
To achieve the set goals, the Government has proposed 6 key tasks and solutions. In particular, in 2025, it is necessary to innovate the thinking of law-making in the direction of both strict management and development creation, and abandon the thinking of banning if it cannot be managed.
In addition, by 2025, Long Thanh international airport and Lach Huyen area ports must be basically completed, and Tan Son Nhat T3 and Noi Bai T2 terminals must be put into operation.
Mr. Dung also noted that adequate resources should be allocated to focus on accelerating progress and promptly completing investment procedures for strategic and important national transport infrastructure projects.
Minister Nguyen Chi Dung - Photo: GIA HAN
Focus on solutions to ensure national financial security and public debt safety
Reviewing this content, Chairman of the Economic Committee Vu Hong Thanh said that in the context of the production and business situation in early 2025 not having much improvement, the review agency proposed that the Government focus on analyzing and evaluating the implementation conditions to ensure the feasibility of the project.
In particular, the Economic Committee noted that it is necessary to focus on solutions to ensure national financial security and public debt safety.
According to Mr. Thanh, there are opinions suggesting considering adjusting the labor productivity growth rate target because this target is closely correlated with the GDP growth target.
Regarding the target of an average CPI growth rate of about 4.5 - 5%, the Economic Committee believes that adjusting the consumer price index target is necessary to create space in managing fiscal and monetary policies, supporting economic growth.
However, inflation is an important indicator that directly affects macroeconomic stability as well as people's lives and business costs.
Therefore, it is recommended that the Government have solutions to control inflation in line with the growth target and stabilize the macro economy.
Focus on reviewing and removing legal bottlenecks
Giving his opinion later, Vice Chairman of the National Assembly Tran Quang Phuong suggested focusing on reviewing legal bottlenecks to amend, supplement, or even issue new laws.
As the Forestry Law is related to forest planning. If this law is not amended soon, there will be overlap between protection forests and production forests, even protection forests and forest economy.
Many localities with forests are concerned that they cannot develop, because touching everything is related to protective forests, while in reality many places have no protective forests left. Not to mention the problems with agricultural and forestry land in mountainous provinces and the Central Highlands.
Secretary General of the National Assembly and Head of the National Assembly Office Le Quang Tung suggested that there is not much time left to implement solutions to achieve this year's GDP target of over 8%, so the Government needs to come up with immediate solutions that have immediate impact.
In addition to solutions to create growth momentum for localities and economic locomotives, according to Mr. Tung, the Government also needs to remove difficulties for businesses to unlock resources and needs to synchronously implement solutions to stimulate consumption, tourism, trade...
Concluding the meeting, Vice Chairman of the National Assembly Nguyen Duc Hai stated that the National Assembly Standing Committee agreed to submit to the National Assembly for consideration and comments on adjusting the GDP growth rate to 8% or more...
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