Prime Minister: Vietnam's economy is a bright spot in the world economy

Báo Tuổi TrẻBáo Tuổi Trẻ11/01/2024

That was the comment of Prime Minister Pham Minh Chinh made at the conference to review 2023 and deploy tasks for 2024 held by the Ministry of Planning and Investment on January 11.
Thủ tướng Phạm Minh Chính phát biểu chỉ đạo tại hội nghị tổng kết của Bộ Kế hoạch và Đầu tư ngày 11-1 - Ảnh: B.NGỌC

Prime Minister Pham Minh Chinh gave a speech at the summary conference of the Ministry of Planning and Investment on January 11 - Photo: B.NGOC

According to Minister of Planning and Investment Nguyen Chi Dung, in 2023 and recent years, the activities of the planning and investment sector have 10 outstanding highlights, the most important of which is developing a new mindset and a new strategic vision for development, in line with the new position and strength of the country, increasingly meeting practical requirements both now and in the future.

Concentrate capital to create infrastructure breakthroughs

What are the highlights? In public investment, the Ministry has made efforts to overcome the situation of scattered, fragmented, divided investment and local interests to concentrate investment resources on large projects, highways, inter-regional and coastal roads, etc., the "iron fists" for infrastructure breakthroughs of the country and localities. The number of national target programs has decreased from 60 programs (2011-2015) to 21 programs (2016-2020), now only 3 programs (2021-2025). The number of public investment projects has decreased from 12,000 projects using the central budget (2016-2020) to 5,000 projects (2021-2025) to focus on investing in key, key projects, large, important projects, the infrastructure foundation of the economy. Strive to build 3,000km of expressways nationwide by 2025, and about 5,000km by 2030. In the planning, the Ministry of Planning and Investment has been steadfast and persistent in submitting the Law on Planning to the National Assembly through 3 sessions. Thereby reducing from more than 20,000 plans nationwide before to 111 plans belonging to the national planning system and 39 technical, specialized, sectoral and provincial plans integrated into a single provincial plan. Thereby overcoming the situation of fragmented and localized management, reorganizing the development space of sectors and localities. In addition, the Ministry of Planning and Investment has effectively applied the market mechanism to eliminate more than 3,000 product plans of all kinds, helping to eliminate thousands of business conditions and sub-licenses.
Regarding the challenges in 2024 and the coming years, Minister Nguyen Chi Dung frankly stated that although economic growth in 2023 is very positive, it is the third consecutive year that it will be below the average target of the 5-year plan 2021-2025 from 6.5-7% and the 10-year strategy 2021-2030 of about 7%/year. In addition, GDP per capita in 2023 will only reach 4,284 USD, quite far from the target of about 4,700-5,000 USD by 2025. And achieving the 5-year growth target is an extremely difficult task, Minister Nguyen Chi Dung added.

Prime Minister: Vietnam's economy is a bright spot in the world economy

Speaking at the conference, Prime Minister Pham Minh Chinh said: In the difficult context of 2023, Vietnam's economy is a bright spot in the not-so-bright picture of the world. FDI attraction reached a record of 36.6 billion USD, disbursement reached more than 23 billion USD, contributing to macroeconomic stability and promoting growth. Disbursement of public investment capital is also a bright spot, the ministry has advised the Government to set up 26 working groups, discovered more than 1,000 problems to focus on finding solutions. "Of the 111 national plans, the Ministry of Planning and Investment has so far appraised 107 plans, this is a great effort because planning work is difficult because it must promote strengths, limit weaknesses and have a vision," the Prime Minister assessed. The Prime Minister also acknowledged the trend of business recovery, the number of businesses entering the market at the end of the year is large, the number of businesses entering the market is larger than the number of businesses withdrawing. In the field of innovation and startups, according to the Prime Minister, there has also been strong progress, forming an innovation ecosystem. To date, the National Innovation Center has attracted 41 investment funds, committing to invest about 1.5 billion USD in the field of innovation.
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