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| Overview of the regular Government press conference in July 2023. Minister Tran Van said that many prestigious international organizations have positively assessed and forecasted Vietnam's economic situation. (Photo: Anh Van) |
Minister and Head of the Government Office Tran Van Son chaired the press conference.
Many bright spots
Speaking at the press conference, Minister Tran Van Son said that the socio-economic situation in July and the first seven months continued to remain stable and develop with many bright spots.
The macro economy remained stable, inflation was controlled, and major balances were ensured. Inflation continued to decline; the average consumer price index (CPI) in the first 7 months increased by 3.12%. State budget revenue in the first 7 months reached over 1 quadrillion VND, equal to 62.7% of the estimate. Import and export continued to increase again; in the first 7 months, exports reached 195.4 billion USD, imports reached 178.9 billion USD; trade surplus was 16.5 billion USD.
Major sectors and fields recovered well. Agriculture continued to have many bright spots; aquatic product output increased by 2.6% in July, and by 1.9% in 7 months. Agricultural exports in July reached 4.62 billion USD, up 5.3% over the same period; in 7 months, they reached more than 29 billion USD.
Besides, industry continued to recover; the industrial production index (IIP) in July increased by 3.9% compared to the previous month and by 3.7% over the same period.
Trade and services grew well, total retail sales of goods and service revenue in July increased by 1.1% over the previous month and 7.1% over the same period, and increased by 10.4% in 7 months. International visitors in July reached more than 1 million, up 6.5% over the previous month and nearly 3 times over the same period; in 7 months, nearly 6.6 million visitors, 6.9 times over the same period.
Investment capital and business development are more positive. In July, 13,700 new businesses were registered, an increase of 4.3% in the number of businesses compared to the same period last year. In total, in the first 7 months, 131,900 businesses entered and re-entered the market, higher than the number of businesses withdrawing from the market of 113,300 businesses.
The Head of the Government Office emphasized: "Along with the above results, the political and social situation is stable; national defense and security are maintained. Foreign affairs and international integration are bright spots; Vietnam's prestige and international position continue to be raised. Many prestigious international organizations assess and forecast positively about Vietnam's economic situation. Vietnam increases 4 places in the Global Peace Index in 2023".
Continue to stabilize the macro economy, control inflation
According to Minister Tran Van Son, in addition to the achieved results, Government members also frankly acknowledged the shortcomings, difficulties, and challenges that must be faced and resolved.
Highlights include: Macroeconomic stability, major balances still have many potential risks, inflation tends to decrease but is still under a lot of pressure. State budget revenue in 7 months decreased compared to the same period; high ratio of bad debt on balance sheet, weak capital absorption, difficult access to capital; low credit growth. Monetary policy management is difficult in the context of many countries continuing to tighten monetary policy.
In addition, the business sector continues to face difficulties, especially in terms of access to capital and declining orders. Demand in large, traditional markets is declining. Industry continues to recover but slowly. The lives of a segment of the population are difficult. Climate change, natural disasters, especially landslides, continue to be complicated. Security, social order and safety still pose many potential risks...
Minister Tran Van Son informed: "After analyzing the domestic, regional and international situations, Prime Minister Pham Minh Chinh emphasized the general goal: To persistently and persistently focus on implementing the general goal according to the Resolution of the 13th National Party Congress, the resolutions and conclusions of the Central Committee, the Politburo, the Resolutions of the National Assembly and the Government.
Stabilize the macro economy, control inflation, promote growth; ensure major balances, control public debt, government debt, and budget deficit. Ensure national defense and security, social order and safety. Further strengthen the prevention and fight against corruption and negativity. Maintain a peaceful and stable environment for development; promote foreign affairs."
Regarding the focus of direction and management, Mr. Tran Van Son said that Prime Minister Pham Minh Chinh directed that priority should be given to removing difficulties for production and business, creating livelihoods for people and businesses, promoting growth associated with macroeconomic stability, controlling inflation, improving people's material and spiritual lives, maintaining political stability, social order and safety, and promoting foreign affairs.
In which, note the following issues: First, ensure and balance, harmony and rationality between interest rates and exchange rates.
Second , prioritize promoting growth, especially the three drivers of consumption, investment and export.
Third, proactive, flexible and effective monetary policy, continuing to have appropriate solutions, lowering interest rates, especially lending rates, restructuring debt, deferring debt, increasing credit and increasing money supply appropriately.
Fourth, the fiscal policy is expansionary, focused, and key, continuing to reduce and extend taxes, fees, and charges, accelerating tax refunds, and public investment.
Fifth, ensure national monetary and financial security.
Sixth, shorten the process, procedures, build institutions as well as legal documents.
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