The regular Government meeting in January 2025 affirmed the Government's determination to promote growth, ensure macroeconomic stability and implement important reforms, increase the efficiency of public spending, create resources for development investment, and contribute to realizing the country's strategic goals in 2025 and the following years.
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Many remarkable results
On the afternoon of February 5, in Hanoi, the Government Office held a regular Government press conference for January 2025. Chairing the press conference, Minister, Head of the Government Office Tran Van Son, Government Spokesperson, said that at the meeting, the Government unanimously assessed that the socio-economic situation in January 2025 continued to show a positive recovery trend with many important and noteworthy results in all fields.
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| Minister, Head of the Government Office Tran Van Son chaired the regular Government press conference in January 2025 - VGP/Nhat Bac |
The economy continued its positive recovery with many remarkable results. The industrial production index (IIP) increased by 0.6% over the same period last year, of which the processing and manufacturing industry increased by 1.6%. Inflation was controlled, the consumer price index (CPI) increased by 3.63% over the same period, supply and demand, and prices of goods were stable, there were no sudden price increases, and no exploitation of artificial scarcity of goods for illegal profits.
The monetary market and exchange rate were basically stable, and the interest rate level maintained a downward trend. The banking system operated safely, stably, and smoothly, serving well the needs during Tet. State budget revenue reached nearly 276 trillion VND, equivalent to 14% of the estimate, up 3.5% over the same period. Import-export turnover reached about 63 billion USD, with a trade surplus of about 1.23 billion USD. Notably, registered foreign direct investment (FDI) inflows reached 3.55 billion USD, up 21.8%, while realized FDI reached 1.51 billion USD, up 2%.
Trade and services were quite active; total retail sales of goods and consumer service revenue in January increased by 9.5%. The tourism and service sectors also recorded a positive development. The number of international visitors to Vietnam in January reached 2 million, helping many localities achieve tourism revenue of thousands of billions of VND during the 9-day Tet holiday.
However, in addition to the positive results, the Prime Minister also pointed out some major difficulties and challenges. The pressure to manage the macro economy, control inflation, stabilize exchange rates and interest rates is still high. Disbursement of public investment capital has not seen strong changes. Some economic sectors have not achieved sustainable growth, while the lives of a segment of the population are still difficult.
Strive to save about 10% more on regular expenses
Concluding the Session, on the basis of identifying the causes, lessons learned and analyzing the international, regional and domestic situations, Prime Minister Pham Minh Chinh requested ministries, branches and localities to have high determination, make great efforts, and take drastic actions with new spirit and new momentum right from the first day and month of 2025; synchronously, drastically and effectively implement the Conclusions and Resolutions of the Central Committee, the Politburo, the National Assembly and the Government, especially Conclusion No. 123 of the Central Committee on the Supplementary Project on Socio-Economic Development in 2025 with the growth target of 8% or more; Resolutions No. 01 and 02 of the Government; promptly issue and implement Programs and Action Plans according to assigned tasks. Carefully prepare the contents to serve the 9th Extraordinary Session of the 15th National Assembly.
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| Prime Minister Pham Minh Chinh speaks at the Government meeting - Photo: VGP/Nhat Bac |
Continue to perfect institutions in the spirit of "breakthrough of breakthroughs"; streamline the apparatus, improve effectiveness and efficiency of operations; promote administrative reform and digital transformation. Urgently review, supplement and perfect legal regulations that are no longer suitable or overlapping in the direction of resolving problems wherever they arise, and at which level, that level proactively proposes, amends and perfects. Seriously and effectively implement the arrangement and streamlining of the apparatus organization according to Resolution No. 18-NQ/TW. Focus on implementing the Government's Action Program to implement Resolution No. 57 on breakthroughs in science and technology development, innovation and national digital transformation.
Continue to prioritize growth promotion, focus on renewing traditional driving forces, and promote new driving forces. Specifically, in terms of investment, promote disbursement of public investment capital and national target programs from the beginning of the year, especially strategic transport projects, airports, seaports, highways, inter-regional and inter-provincial projects. Strive to complete key national projects, reaching at least 3,000 km of highways and over 1,000 km of coastal roads by the end of 2025. Strengthen promotion and attraction of large-scale, high-tech FDI projects, especially in the processing, manufacturing, electronics, semiconductors, hydrogen industries, etc.
Regarding exports, promote harmonious trade, expand export markets, focus on diversifying export markets and products. Effectively exploit signed FTAs and new, potential markets.
Regarding consumption, stimulate consumption, promote e-commerce, and cashless payments. Promote the campaign "Vietnamese people prioritize using Vietnamese products". Synchronously deploy solutions to promote attracting domestic and international tourists.
Strongly, effectively and substantially promote new growth drivers; promote emerging industries and fields such as: big data, cloud computing, optoelectronics, internet industry, internet of things, biomedical industry, cultural industry, entertainment industry...
Maintain macroeconomic stability, control inflation, and ensure major balances of the economy. Focus on proactive, flexible, timely, and effective monetary policy management; coordinate synchronously and harmoniously with a reasonable, focused, and key expansionary fiscal policy and other policies.
Effectively implement credit growth measures (striving for credit growth of over 16%), directing credit to production and business sectors, priority sectors, and growth drivers; strictly control credit in high-risk sectors; strive to reduce lending interest rates.
Urgently guide and strive to save about 10% more regular expenditure in 2025 compared to the 2024 estimate to supplement investment in the Lao Cai - Hanoi - Hai Phong railway line. Effectively implement the work of collecting state budget, ensuring correct, full and timely collection, etc. Continue to research and propose policies to reduce taxes, fees and charges for people and businesses.
Focus on the fields of culture, social security, environmental protection, natural disaster prevention and control, and climate change response. Overcome the local labor shortage after Tet, and avoid a break in labor supply and demand. Consolidate and strengthen national defense and security; maintain social order and safety; promote the prevention and fight against corruption, waste, and negativity; improve the effectiveness of foreign affairs and international integration. Strengthen information and communication work, create social consensus, and contribute to the successful implementation of socio-economic development goals and tasks in 2025.Source: https://thoibaonganhang.vn/nam-2025-muc-tieu-tang-truong-gdp-dat-8-tro-len-160247.html
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