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On the morning of October 23, at the opening session of the 6th session of the 15th National Assembly, Prime Minister Pham Minh Chinh reported on the results of the implementation of the socio-economic development plan for 2023 and the expected socio-economic development plan for 2024.
Average income of workers increased by 6.8%
Summarizing the results achieved during the year, the Prime Minister said that the socio-economic situation continued to recover, with each month being more positive than the previous month, each quarter being higher than the previous quarter, basically achieving the set general goals and many important results in various fields; continuing to be a bright spot in the global economy.
Based on the results of the first 9 months, it is estimated that in 2023, we will strive to achieve and exceed at least 10/15 targets, notably completing all social targets, demonstrating the good nature of our regime.
Specifically, the macro economy is basically stable, inflation is under control, growth is promoted, and major balances are basically guaranteed. GDP growth in the third quarter reached 5.33%, and in the first 9 months it reached 4.24%.
The average consumer price index (CPI) for the first 9 months increased by 3.16%. Imports and exports increased gradually over the months, with a trade surplus of nearly 22 billion USD in the first 9 months.
Disbursement of public investment capital by the end of September reached 51.38% of the plan, 4.68% higher than the same period, about VND110 trillion higher in absolute terms; realized FDI capital reached about USD16 billion, up 2.2%. State budget revenue in the first 9 months reached 75.5% of the estimate, and is estimated to reach and strive to exceed the estimate for the whole year.
The state budget deficit and public debt indicators are controlled below the limit and warning threshold according to the National Assembly's Resolution; at the same time, increasing revenue, saving expenditure, and setting aside a salary fund of about VND 560 trillion to date ensures sufficient resources for salary reform in the 3 years of 2024 - 2026.
The Head of Government said that many prestigious international organizations highly appreciated the results and prospects of our country's economy and predicted that Vietnam would recover quickly in the coming time; the value of Vietnam's national brand reached 431 billion USD, up 1 rank to 32nd out of 100 strong national brands in the world.
In addition, the Prime Minister also said that cultural and social fields have received investment and development attention, achieving clearer results; people's lives have been improved.
Specifically, the average income of workers increased by 6.8%; over 94% of households assessed that their income was stable or higher than the same period in 2022. According to the World Happiness Report in March 2023 of the United Nations, Vietnam's happiness index increased by 12 places, from 77th to 65th in the global rankings...
Besides the basic achievements, the Prime Minister also pointed out that there are still limitations and shortcomings that need to be further focused on and overcome.
Therefore, the Prime Minister requested all ministries, branches and localities to make efforts to overcome difficulties, promote recovery and develop production and business.
In particular, the Prime Minister noted the need to speed up the approval of planning and disbursement of public investment capital; actively restore and develop the corporate bond market and real estate market.
At the same time, focus on removing difficulties for production and business; unblocking, mobilizing and effectively using resources; ensuring the supply of essential goods, especially electricity, gasoline, oil and stabilizing the market and prices.
The whole country strives to achieve the highest targets of the 2023 plan, in which GDP growth reaches over 5%, inflation is about 3.5-4%.
Ensuring completion of over 3,000 km of expressway by 2025
Regarding the socio-economic development plan for 2024, the Prime Minister emphasized 6 viewpoints in direction and administration.
It is necessary to tighten discipline, improve the effectiveness and efficiency of law enforcement; continue to promote the work of preventing and combating corruption and negativity; rectify the situation of avoiding and shirking responsibility and protect cadres who dare to think, dare to do, and dare to take responsibility.
The Head of Government paid attention to the synchronous and effective implementation of the Resolutions of the Party and the National Assembly, especially the 3 strategic breakthroughs, 6 key tasks and 12 main groups of solutions.
“Promote the strength of the entire political system and the entire people; arouse the aspiration to build a strong and prosperous country; tighten discipline and order; grasp reality, respond proactively, flexibly, promptly and effectively with policies,” the Prime Minister emphasized.
Presenting a series of key tasks and solutions for 2024 and the coming time, the Prime Minister emphasized the need to continue to operate monetary policy proactively, flexibly, promptly and effectively; coordinate synchronously, harmoniously and closely with a reasonable, focused, key expansionary fiscal policy and other policies.
In particular, continue to strive to reduce lending interest rates; focus credit on growth drivers (investment, consumption, export), priority sectors; effectively implement existing preferential credit packages and research to add new packages; strive for credit growth in 2024 of about over 15%.
In addition, focus on overcoming the limitations and shortcomings that have been pointed out; effectively increase revenue and save state budget expenditure. The estimated state budget revenue in 2024 will increase by about 5% compared to 2023 to prioritize the increase for development investment.
At the same time, submit to the National Assembly for consideration and permission to continue implementing policies on tax, fee and charge exemption and reduction; promptly issue appropriate and effective policies related to global minimum tax.
The head of government also set out the task of promoting expressway projects to ensure the completion of the target of having over 3,000 km by 2025.
The Government is speeding up the construction of a number of important national railway lines; striving to complete and submit to competent authorities for consideration the North-South high-speed railway project in 2024.
Along with that, the Government focuses on developing digital economy, green economy, circular economy, e-commerce, emerging industries and fields; focusing on recovering and strongly developing industries, especially processing, manufacturing, and semiconductor chip production.
Don't back down in the face of difficulty
In public investment, the Government focuses on key projects that "turn around" the situation, "transform" the state, and end the situation of dispersion, division, waste, and inefficiency.
In addition, the Prime Minister also emphasized the focus on developing high-quality human resources associated with promoting research, development and application of science and technology, promoting innovation and start-up movements. In particular, focusing on training 50-100 thousand high-quality human resources for the semiconductor chip manufacturing industry in the period from 2025 - 2030...
Another task reported by the head of the Government to the National Assembly is to focus on developing and submitting to competent authorities for promulgation the National Target Program on reviving and developing Vietnamese culture.
Along with that, it is necessary to review and improve social insurance, health insurance, and unemployment insurance policies towards expanding coverage and participants; effectively overcoming the situation of employees withdrawing social insurance at one time.
At the same time, continue to perfect mechanisms and policies, resolutely and effectively implement the Project to invest in building at least 1 million social housing units by 2030.
The Prime Minister also mentioned the task of reforming the salary policy for the public sector according to Resolution No. 27 of the Central Committee from July 1, 2024. From 2025 onwards, continue to adjust the average salary increase of 7%/year for cadres, civil servants, public employees, and armed forces until the lowest salary is equal to or higher than the lowest salary in Region I of the enterprise sector.
At the same time, continue to adjust regional minimum wages and wage policies for the business sector according to regulations...
Another important task set by the Prime Minister is to further promote the work of preventing and combating corruption, negativity, and waste; and to tighten administrative discipline and order.
At the same time, resolutely and effectively reorganize the apparatus and administrative units at district and commune levels in the 2023-2025 period; continue to reorganize and innovate the organization and operation of public service units; promote greater autonomy. Effectively implement the overall program of State administrative reform; promote national digital transformation and implement Project 06; promptly build and operate national databases.
Emphasizing that the tasks from now until the end of 2023 and 2024 are very heavy and important, the Prime Minister requested all levels, sectors and localities to promote the spirit of solidarity, unity, dynamism, innovation and creativity, not to retreat in the face of difficulties and challenges, to have higher determination, greater efforts, and more drastic actions, ensuring focus and key points.
- GDP growth of about 6-6.5%;
- GDP per capita reaches about 4,700-4,730 USD
- The proportion of processing and manufacturing industry in GDP reaches about 24.1-24.2%
- Average consumer price index (CPI) growth rate is about 4-4.5%
- Average social labor productivity growth rate 4.8-5.3%
- The rate of trained workers is about 69%, of which those with degrees and certificates is about 28-28.5%.
- Unemployment rate in urban areas below 4%
- The rate of poor households according to multidimensional poverty standards decreased by more than 1%.
- Estimated state budget revenue increases by about 5%; state budget deficit is under 4% of GDP.
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