The Prime Minister directed to continue prioritizing promoting growth associated with maintaining macroeconomic stability, striving to achieve a growth rate of over 7%, controlling inflation, and ensuring major balances of the economy.
Prime Minister Pham Minh Chinh chairs the regular Government meeting in September 2024 and the Government conference with localities. (Photo: Duong Giang/VNA)
Chairing the regular Government meeting in September 2024, held online with 63 provinces and centrally-run cities on October 7, Prime Minister Pham Minh Chinh requested ministries, branches and localities to strive to achieve the growth target for the whole year of 2024 of over 7%.
At the meeting, the Government and ministries, branches and localities focused on assessing the socio-economic situation in September and the first 9 months of 2024, setting out tasks for October and the fourth quarter of 2024; the allocation and disbursement of public investment capital; the implementation of 3 National Target Programs; the direction and administration of the Government and a number of other important contents.
The economy continues its positive recovery trend in the context of many difficulties and challenges.
The meeting assessed that since the beginning of the year, the Government and the Prime Minister have focused on directing all levels, sectors and localities to resolutely, synchronously and effectively implement the Resolutions and conclusions of the Central Committee, the Politburo, the Secretariat, the National Assembly and the Government. Accordingly, priority is given to promoting growth associated with maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy; focusing on implementing 3 strategic breakthroughs; promoting digital transformation, green transformation, science and technology, startups, innovation; in particular, accelerating the implementation of strategic infrastructure projects and works, especially expressway projects, 500 kV line projects, circuit III; focusing on preventing and overcoming the consequences of natural disasters, especially storm No. 3; developing social housing; eliminating temporary houses, dilapidated houses...
The socio-economic situation in September, the third quarter and the first 9 months of 2024 continued to show a positive recovery trend. GDP in the third quarter increased by 7.4%, and in the first 9 months it increased by 6.82%. The average consumer price index in the first 9 months increased by 3.88%. Export turnover increased by 15.4%, with an estimated trade surplus of 20.8 billion USD. The service and tourism sectors recovered strongly, with the number of international visitors in the first 9 months reaching over 12.7 million, an increase of 43%. FDI attraction in the first 9 months reached 24.78 billion USD, an increase of 11.6%. Realized FDI capital reached 17.3 billion USD, an increase of 8.9%, the highest in the past 5 years...
Prime Minister Pham Minh Chinh chairs the regular Government meeting in September 2024 and the Government conference with localities. (Photo: Duong Giang/VNA)
The socio-political situation is stable; national defense and security are strengthened; foreign affairs and international integration are promoted. Many foreign affairs activities of the Party and State leaders have been successfully organized; economic diplomacy is promoted; a peaceful and stable environment for national development is maintained.
With that result, many international organizations highly appreciated Vietnam's economic results and prospects. In particular, the International Monetary Fund, the World Bank, and the Asian Development Bank all raised Vietnam's growth forecast for 2024 to 6.1%...
Delegates also pointed out many shortcomings, limitations and challenges. In particular, with a loss of about 82 trillion VND, the impact of storm No. 3 will have to be overcome for a long time; the pressure on macroeconomic management is still high; the disbursement rate of public investment capital is low, reaching only 47.3% of the plan in 9 months, lower than the 51.38% of the same period. Difficulties and obstacles in the real estate market are still slow to be resolved; the lives of a part of the people are difficult; security, social order and safety, and the crime situation in some areas are potentially complicated...
At the meeting, leaders of provinces and cities welcomed the determination and drastic measures of the Government and Prime Minister and committed to strictly implementing the directions and administration of the Government and Prime Minister on socio-economic development; proposed to continue to decentralize and delegate power more strongly; support localities to remove obstacles in mechanisms and provide funding to promote infrastructure development, with specific projects, ensuring social security, especially eliminating temporary and dilapidated houses for the poor, overcoming the consequences of storm No. 3...
Along with answering questions within their authority, leaders of ministries and branches proposed to effectively implement policies to overcome the consequences of storm No. 3; continue to renew traditional growth drivers, inspect, urge, and remove obstacles to promote the implementation of large, key national projects; promote new growth drivers, remove obstacles to bring resources in the fields of energy, minerals, and real estate into development; effectively implement regional and national planning; continue to perfect institutions to remove obstacles to create openness for development; promote digital transformation, especially the management of applications and national data sources, ensure information network safety and security, and combat cybercrime...
Concluding the meeting, reviewing 13 outstanding results in socio-economic development in September, the third quarter and the first 9 months of 2024, pointing out the shortcomings, limitations, difficulties, challenges and causes, lessons learned, Prime Minister Pham Minh Chinh affirmed that the achieved results were thanks to the close leadership and direction of the Central Committee, directly and regularly by the Politburo, the Secretariat, the late General Secretary Nguyen Phu Trong; General Secretary, President To Lam; key leaders; the companionship of the National Assembly and agencies in the political system; the support and active participation of the people, the business community; the cooperation and assistance of international friends. Especially the drastic, creative, focused and key direction of the Government, the Prime Minister, the close coordination between all levels, sectors and localities; strengthening discipline, order, and anti-corruption.
The Prime Minister commended the localities for their efforts, overcoming difficulties and challenges and contributing to the overall achievements of the country. In particular, two localities, Hanoi and Ho Chi Minh City, contributed 51% of the total budget revenue of the country; shared the losses and commended Lao Cai, Quang Ninh provinces, and Hai Phong city in responding to and overcoming the consequences of storms and floods; Bac Giang, Thanh Hoa, Ha Nam, Khanh Hoa, Dien Bien and Lai Chau provinces had economic growth of over 10%.
Regular Government meeting in September 2024 and Government conference with localities. (Photo: Duong Giang/VNA)
Analyzing the context, situation and tasks in the coming time, the Prime Minister requested all levels, sectors and localities to closely monitor the international and domestic situation to have appropriate policy responses, timely, flexible and effective solutions, immediately report issues beyond their authority; continue to synchronously and resolutely implement tasks and solutions with a spirit of high determination, make every effort, take drastic actions, complete each task, with focus and key points."
Accelerate to achieve economic growth rate of over 7% for the whole year of 2024
The Prime Minister pointed out key tasks and solutions for the whole country to strive to successfully and comprehensively implement the goals and tasks of 2024, with the general goal of promoting growth, controlling inflation, ensuring major balances, controlling public debt, government debt, foreign debt, budget deficit...
In particular, ministries, branches and localities must focus on overcoming the consequences of storm No. 3, stabilizing people's lives, promoting production and business recovery, restoring essential infrastructure, controlling supply sources and prices of goods...; carefully preparing, ensuring the progress and quality of reports and projects at the 8th Session of the 14th National Assembly; implementing the Central Committee's Conclusion on institutional improvement.
The Head of Government directed to continue to prioritize promoting growth associated with maintaining macroeconomic stability, striving to achieve a growth rate of over 7%, controlling inflation, ensuring major balances of the economy; operating monetary policy proactively, flexibly, promptly and effectively; coordinating synchronously, harmoniously and closely with a reasonable, focused, key expansionary fiscal policy and other macroeconomic policies; not operating "jerky."
Accordingly, the Prime Minister directed that the State Bank must operate to stabilize exchange rates, strive to reduce lending interest rates, increase access to credit capital, focus on priority sectors, strive to increase credit for the whole year by about 15%; and control bad debt risks.
The Ministry of Finance strives to increase revenue, save state budget expenditure, focus on development expenditure; drastically implement digital transformation, apply electronic invoices in revenue management; thoroughly save regular expenditure, increase development investment expenditure. The Ministry effectively implements policies to extend and reduce taxes, fees, and charges; strives to increase annual revenue by at least 10% above the estimate.
Requiring effective exploitation of fiscal policy space, the Prime Minister requested the Ministry of Finance to urgently study and propose the issuance of an additional VND100 trillion to invest in national strategic infrastructure projects; maintain market and price stability, especially for gasoline, oil, and essential goods; carefully prepare, assess impacts, and have a roadmap for appropriate price adjustments managed by the State such as electricity, medical services, etc.
The Head of Government directed ministries, branches and localities to focus on promoting and creating breakthroughs in disbursing public investment capital; guide and urge ministries, branches and localities to closely follow each project; promptly transfer capital; strongly promote the 3 National Target Programs; strive to achieve a disbursement rate of at least 95%.
Prime Minister Pham Minh Chinh chairs the regular Government meeting in September 2024 and the Government conference with localities. (Photo: Duong Giang/VNA)
The Prime Minister's Working Groups and 26 Working Groups of Government members stepped up their activities; strictly handled cases of deliberate delay; simplified and shortened disbursement procedures. Ministries directed to speed up the progress of important and key national projects and works; expressway systems; and prepared for investment in important railway projects.
Requiring a focus on renewing traditional growth drivers and strongly promoting new growth drivers, the Prime Minister noted strengthening public-private cooperation and attracting FDI with high technology content and added value; effectively exploiting large, traditional markets and strongly promoting new markets; supporting businesses in promoting and promoting trade; promoting market development, stimulating domestic consumption, the campaign "Vietnamese people prioritize using Vietnamese goods", e-commerce, and cashless payments at both the national and regional and local levels. Ensuring good control of supply and prices of goods, especially essential goods.
Ministries, sectors and localities review and promptly have appropriate and effective mechanisms and policies to promote new growth drivers, especially regional economy, regional and urban linkages; digital transformation, green transformation, circular economy, sharing economy, knowledge economy and new industries and fields, high technology such as semiconductor chips, AI, cloud computing...
The Prime Minister pointed out that it is necessary to accelerate the completion of institutions and laws, reform administrative procedures, and promote national digital transformation; promptly issue full documents detailing and guiding all approved Laws; accelerate the reduction and simplification of administrative procedures, improve the investment and business environment; promote national digital transformation, Project 06, and build a National Data Center; remove obstacles, especially legal and procedural ones, to speed up the progress of social housing projects; review conditions for purchasing social housing; and promote the progress of credit packages for social housing loans.
The Prime Minister requested to continue to thoroughly handle outstanding and long-standing issues such as: weak banks; the overall plan to handle and remove difficulties for Vietnam Airlines Corporation; investment projects to build the second facility of Bach Mai and Viet Duc Hospitals; projects and land in the inspection and examination conclusions, judgments stated in Project 153, power projects...
Regarding the fields of culture, society, environment; ensuring social security, improving people's lives, the Prime Minister assigned ministries and localities to closely monitor the developments of natural disasters, storms and floods, respond promptly and effectively, and minimize damage; effectively and substantially implement the emulation movement to join hands to eliminate temporary and dilapidated houses nationwide; effectively implement the Project on developing human resources for the semiconductor industry and the Strategy for developing the semiconductor industry.
“Ministries and sectors must listen to opinions and recommendations from people, businesses, and international organizations; on that basis, they must be receptive and open-minded to timely solutions and organize reasonable and effective implementation,” the Prime Minister emphasized.
Along with that, strengthen national defense and security; promote the fight against corruption and negativity; improve the effectiveness of foreign affairs and international integration; strengthen information and communication, especially policy communication, contributing to creating social consensus and an enthusiastic atmosphere, striving to rise up of the whole society.
Minister of Planning and Investment Nguyen Chi Dung reports on the socio-economic situation in September and the first 9 months of 2024. (Photo: Duong Giang/VNA)
With the Government's responsibility to the Central Government and the National Assembly, the Prime Minister requested to urgently submit to the National Assembly Standing Committee the principles, criteria and norms for allocating regular expenditures of the State Budget in 2026 and investment expenditures of the State Budget in 2026-2030. In particular, it is important to prioritize capital sources for projects with connectivity and spillover, especially connecting the expressway system with airports and seaports and deploying the high-speed railway and urban railway systems; actively implementing the tasks of the Socio-Economic Subcommittee; carefully preparing to serve the Party Congresses at all levels, towards the 14th National Party Congress.
Assigning specific tasks to each ministry, sector and locality in implementing specific tasks and solutions, Prime Minister Pham Minh Chinh believes that ministries, sectors and localities will join hands and unite to successfully and comprehensively implement the goals and tasks of 2024, creating momentum for socio-economic development in 2025 and the following years./.
According to VNA
Source: https://baothanhhoa.vn/tang-toc-de-dat-toc-do-tang-truong-kinh-te-ca-nam-2024-khoang-tren-7-226932.htm
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