Prime Minister Pham Minh Chinh chairs the regular Government meeting in October 2024

The Prime Minister emphasized the tasks and solutions to complete all goals of 2024, especially the GDP growth target. If the fourth quarter reaches about 7.5%, the whole year will reach more than 7%.

On the morning of November 9, Prime Minister Pham Minh Chinh chaired the regular Government meeting in October 2024 to discuss and assess the socio -economic situation in October and the first 10 months of the year, as well as orientations, tasks, and solutions in November and from now until the end of the year.

Attending the meeting were members of the Politburo, members of the Party Central Committee, Deputy Prime Ministers, members of the Government, leaders of ministries, branches and central agencies.

In his opening speech, Prime Minister Pham Minh Chinh stated that in October, the Government focused on directing ministries, branches and localities to carry out 6 major tasks: Implementing the conclusions of the 10th Central Conference of the 13th Party Congress; responding to and overcoming the consequences of storms, floods and natural disasters, especially storm No. 3; preparing for the 8th Session of the 15th National Assembly with a large number of draft laws, documents and upcoming question-and-answer sessions; focusing on handling weak and long-standing projects (basically handling 12 loss-making and weak projects and resolving problems with 2 hospital projects, a number of power projects, etc.).

The Government implemented solutions to control inflation, stabilize the macro-economy, promote growth, ensure major balances of the economy; review the implementation of the 2024 and 5-year goals and carry out the tasks of the Socio-Economic Subcommittee to draft documents to submit to the 14th National Party Congress.

The Prime Minister assessed that the socio-economic situation continues to trend that next month is better than the previous month, next quarter is better than the previous quarter, this year is better than last year; from there, he asked the delegates to focus on discussing, clarifying the achieved results, limitations, difficulties, challenges, analyzing the causes and lessons learned in direction and management; forecasting and assessing the situation in the coming time, including forecasting the impact of the election results in the United States; proposing mechanisms, policies and solutions in the coming time.

Regarding the international situation in October and the first 10 months of the year, the Prime Minister pointed out the following highlights: Fierce strategic competition, escalating conflicts in Ukraine, the Middle East and many other places; prices of gold, gasoline, basic goods, international freight rates fluctuated strongly; global economic growth, trade, and investment recovered slowly and were not stable; natural disasters, climate change, and complicated developments; science and technology, digital transformation, and green transformation are trends and great opportunities but also pose many difficulties and challenges, especially for developing countries.

Therefore, the Prime Minister requested to always be proactive, positive, respond promptly to policies, and have operational scenarios for all situations. The Prime Minister emphasized the tasks and solutions to complete all goals of 2024, especially the GDP growth target, if the fourth quarter reaches about 7.5%, the whole year will reach more than 7% (nearly double the average of ASEAN and the world); breakthrough mechanisms, policies, and solutions to promote science and technology, innovation, renew old growth drivers, and promote new growth drivers. The Prime Minister stated that GDP growth is a very important indicator, helping to increase labor productivity.

In addition, Prime Minister Pham Minh Chinh noted the issue of solutions to stimulate domestic consumption, so the Prime Minister requested relevant agencies to study and propose tax solutions to submit to the National Assembly.

The Prime Minister also requested a review of the work serving the 8th Session of the 15th National Assembly, including the preparation of documents to submit the investment policy for the North-South high-speed railway project; the organization of upcoming major national holidays, especially the 80th anniversary of the founding of the heroic Vietnam People's Army at the end of 2024 and major holidays in 2025.

According to the report of the Ministry of Planning and Investment, the socio-economic situation in October continued to be positive and better than September, and overall the 10 months were better than the same period in all areas. The macro economy was stable, inflation was controlled, major balances were ensured and there was a surplus.

The main economic sectors continued to develop positively; many outstanding issues were focused on resolving. Social security was ensured. The fields of culture, sports, health, and education were given attention and developed with many good results. The work of preventing, combating, and overcoming the consequences of natural disasters, especially before storm No. 3, was deployed early, from afar, from the central to the grassroots levels, minimizing many damages and supporting people and businesses to soon restore economic and social activities. National sovereignty, political security, and social order and safety were maintained; foreign affairs were promoted; the country's prestige and position continued to be raised./.

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