Strengthening business support, ensuring security in the face of global economic fluctuations

Continue to remove institutional and policy obstacles

Presenting a supplementary assessment report on the results of the implementation of the 2024 socio-economic development plan and the implementation of the 2025 socio-economic development plan, Deputy Minister of Finance Do Thanh Trung said that the 2024 socio-economic development plan is being implemented in the context of the world and the region continuing to have complex and unpredictable developments, with many risks, difficulties and major challenges.

View of the meeting. (Photo: quochoi.vn)

Domestically, the economy continues to suffer from the “double impact” of unfavorable external factors and internal limitations and shortcomings that have lasted for many years; while natural disasters, storms and floods, especially Typhoon Yagi, have caused severe damage.

However, in that context, thanks to the participation of the entire political system, people, and businesses nationwide under the leadership of the Party, often and directly by the Politburo and the Secretariat, our country's socio-economic situation in 2024 continued to achieve many important results; completing all 15/15 main targets (of which 12 targets were exceeded); comments and assessments closely followed and demonstrated consistency with the results reported to the National Assembly at the 8th Session and the 9th Extraordinary Session in early 2025. In general, the socio-economic situation has recovered more quickly and clearly, with each month being more positive than the previous month, each quarter being higher than the previous quarter. The results of the implementation of the socio-economic development plan in 2024 after additional assessment have had many more positive changes.

Regarding the implementation of the 2025 plan, the Deputy Minister of Finance said that the work of reviewing and perfecting institutions and laws continues to receive attention and focused direction. Growth is promoted, the macro economy is stable, inflation is controlled, and major balances are ensured. The revolution in arranging and streamlining organizations and apparatus is being implemented vigorously, closely following the direction and requirements of the Central Committee and the Politburo. Continuing to prioritize resource allocation, direction, urging, and timely removal of obstacles to complete key infrastructure projects in 2025. Human resource development, science and technology, innovation and digital transformation continue to be promoted. The fields of culture, society, social security, health, public health care, sports, tourism, information and propaganda, etc. are focused on and concerned. The progress of planning implementation is accelerated; regional linkages and regional economic development continue to be promoted.

However, GDP growth in the first quarter was still lower than the scenario according to Conclusion No. 123-KL/TW (7.7%) due to the complicated and unpredictable changes in the world, while the time to achieve the growth target of 8% or more is not long, and at the same time, important tasks of restructuring the apparatus are being implemented. Growth drivers are at risk of weakening; natural resources and minerals have not been effectively exploited. The improvement of institutions and laws, although receiving attention and direction, still has many problems. Some mechanisms, policies, regulations and administrative procedures are slow to be amended, are still cumbersome, causing difficulties for businesses and people. The fear of mistakes and responsibility has not been completely resolved; discipline and order are sometimes not strict in some places.

Many solutions are recommended to maintain growth targets.

Discussing at the meeting, delegates basically agreed with the Government's assessment of supplementing the results of the implementation of the 2024 Socio-Economic Development Plan and the implementation of the 2025 Socio-Economic Development Plan.

Delegates also said that in order to successfully achieve the GDP growth target of 8% or more in 2025, the Government needs to closely monitor the global economic and political situation, correctly assess the reality to have timely policy responses, especially in the context of complicated geopolitical conflicts, trade wars and protectionism.

Speaking at the meeting, delegate Hoang Van Cuong, National Assembly Delegation of Hanoi City, said that these results are considered positive under normal conditions. However, the current world economic situation is complicated and unpredictable with many sudden fluctuations, typically the US imposing very high reciprocal tariffs, and the implementation of the 8% growth target is facing many major challenges.

According to the delegate, the competition in the goods market is extremely fierce. Therefore, strengthening the management of import activities and strictly controlling product labels has become an urgent requirement, requiring the authorities to have effective and timely solutions.

Delegates also said that with the current strong fluctuations, many businesses are expected to face many difficulties in the coming time. It is extremely necessary to consider and implement expansionary fiscal policies, along with timely and practical support measures for businesses facing difficulties.

In addition, delegates also said that the current consumption growth rate is low. To promote domestic consumption, delegates proposed to consider reducing value-added tax (VAT) in the last six months of 2025 and the whole year of 2026. In addition, extending the application period for some taxes such as special consumption tax and adjusting the family deduction level of personal income tax are also solutions that need to be considered to effectively stimulate consumption.

Chairman of the Economic and Financial Committee Phan Van Mai chaired the meeting. (Photo: quochoi.vn)

Concluding this content, Chairman of the Economic and Financial Committee Phan Van Mai highly appreciated the opinions expressed at the meeting, and at the same time requested that delegates continue to study and send their opinions for the Economic and Financial Committee to absorb and synthesize.

Emphasizing that economic and financial issues are extremely important, especially in the current volatile context, the Chairman of the Economic and Financial Committee requested ministries and branches to continue clarifying information on the above contents to complete the dossier of the supplementary assessment report on the results of the implementation of the 2024 Socio-Economic Development Plan and the implementation of the 2025 Socio-Economic Development Plan.

Source: https://thoidai.com.vn/tang-cuong-ho-tro-doanh-nghiep-dam-bao-an-sinh-truoc-bien-dong-kinh-te-toan-cau-212764.html