Reporting at the regular Government meeting in October 2023 held on the morning of November 4, Minister of Planning and Investment (MPI) Nguyen Chi Dung said that the macro economy in October and the first 10 months was basically stable, with the recovery trend becoming increasingly clear in all three driving forces of investment, domestic consumption and export.
" The economy is gradually regaining growth momentum, each quarter grows faster than the previous quarter, each month is more positive than the previous month, " said Mr. Dung.
Citing this statement, Minister Nguyen Chi Dung pointed out that the socio-economic situation in October 2023 and the first 10 months of the year continued to achieve important results.
Specifically: The macro economy continues to be stable, inflation is controlled, major balances are ensured; the consumer price index (CPI) in October increased by 3.59% over the same period, the average increase in 10 months was 3.2%; the monetary market is basically stable; the state budget revenue in 10 months is estimated to reach 86.3% of the estimate.
Import-export turnover, export and import in October increased by 5.6%, 5.9% and 5.2% respectively over the same period; disbursement of public investment capital reached 56.74% of the plan, 5.5% higher than the same period last year (51.34%).
Minister Nguyen Chi Dung reports at the regular Government meeting in October 2023. (Photo: VGP/Nhat Bac)
Along with that, production and business activities continued to change positively. The agricultural and service sectors continued to maintain a fairly good growth momentum. The business registration situation was more positive.
The Government and ministries and sectors have focused on perfecting institutions and laws, improving the investment and business environment; promoting investment in strategic and important infrastructure projects, and promoting new economic growth drivers.
Thereby, difficulties, obstacles and shortcomings were focused on being resolved, achieving initial results, especially in terms of mechanisms, policies and legal aspects of enterprises, investment projects, corporate bond markets, real estate, labor, bidding, procurement of medicines, medical supplies, fire prevention and fighting, electricity supply, gasoline, etc.
Many synchronous policies and solutions, especially in fiscal and monetary terms, have been actively implemented to remove difficulties and support production and business.
Notably, at the end of October, the Prime Minister inaugurated the National Innovation Center at Hoa Lac Hi-Tech Park, attracting 41 investment funds to commit to investing 1.5 billion USD in the 3 years 2023 - 2025.
However, Minister Nguyen Chi Dung also pointed out a number of difficulties and limitations: Production and business enterprises continue to face challenges in terms of market, cash flow and administrative procedures; the domestic market has not been effectively promoted; difficulties of enterprises and the economy have had a direct impact, increasing pressure on macroeconomic management.
In addition, the real estate and corporate bond markets have changed positively but are still facing difficulties. It is necessary to continue to closely monitor to proactively resolve and promptly handle arising situations; the lives of a segment of the population are still difficult; natural disasters are unpredictable, greatly affecting economic and social activities.
In this context, Minister Nguyen Chi Dung has advised and proposed many key tasks and solutions from now until the end of the year.
Notably, it is necessary to focus on developing the domestic market and increasing consumption of goods at the end of the year and during the Lunar New Year in 2024.
Take advantage of recovery opportunities from markets to increase exports, especially agricultural, forestry and fishery products.
Mobilize and effectively use domestic and foreign resources for development investment.
In addition, Minister Nguyen Chi Dung also proposed maintaining macroeconomic stability, controlling inflation, and ensuring the major balances of the economy. In addition, it is necessary to focus on developing new growth drivers and promoting international integration.
Cong Hieu
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