Concluding the conference, Prime Minister Pham Minh Chinh directed to strive for economic growth of 6.5-7% in the third quarter to complete the 2024 plan at the highest level.
Economy recovers to pre-COVID-19 pandemic level
At the Conference, the Prime Minister, Deputy Prime Ministers, Ministers, Heads of ministerial-level agencies, Government agencies, leaders of provinces and cities focused on in-depth analysis of the positive and negative aspects; lessons learned from the operation and management work in the past; proposed appropriate, feasible and effective solutions for direction and operation in July and the remaining months of 2024 and the coming years, especially legal obstacles and bottlenecks.
Delegates assessed that, in the context of many difficulties in the world and in the country, the Government and the Prime Minister have directed ministries, branches and localities to resolutely and focus on key issues to deploy work, concretize the Laws, Resolutions, Conclusions and Directives of the Party Central Committee, Politburo, Secretariat and National Assembly; closely monitor, grasp the situation, flexibly, promptly and effectively handle issues arising in the short term, ensuring harmony with medium and long-term development.
Delegates attending the Conference affirmed that our country's economy in the first 6 months achieved many important results, which were highly appreciated by international organizations and enterprises. This is the foundation for striving to successfully complete and exceed the development target for 2024. However, the difficulties and challenges in the remaining months of the year are still very great. Therefore, all levels, sectors and localities continue to promote more proactiveness, innovation, creativity, daring to think, daring to do; closely and effectively coordinate to consistently implement priority goals, promote growth associated with maintaining macroeconomic stability, controlling inflation, and ensuring major balances.
Concluding the Conference, Prime Minister Pham Minh Chinh welcomed and highly appreciated the enthusiastic, responsible and practical opinions of the delegates; emphasized that, with the spirit of "Discipline, responsibility, proactiveness, speed, creativity, sustainable efficiency", in the first 6 months of 2024, the Government, ministries, branches and localities have focused on directing the implementation of regular tasks with higher determination, greater efforts and organized implementation in a more systematic, scientific, systematic and effective manner. With sudden problems arising, we should stay closer to the situation, have more experience, and respond more flexibly and effectively; with long-standing backlogs, we should be more drastic and resolve them more thoroughly.
Thanks to that, the situation in the first 6 months of the year shows that the economy has recovered to the level before the COVID-19 pandemic and continues the positive trend: each month is higher than the previous month, each quarter is better than the previous quarter; in general, the 6 months achieved many important results, higher than the same period in most areas.
Reviewing 11 outstanding results, the Prime Minister said that GDP growth in the second quarter recovered strongly, reaching 6.93%, the total for the first 6 months reached 6.42%, much higher than the same period in 2023 at 3.84% and exceeding the scenario in Resolution 01 expected from 5.5 to 6%. In particular, high growth was seen in all three sectors: agriculture, industry, services and in the provinces and cities: Bac Giang, Khanh Hoa, Thanh Hoa, Ha Nam, Hai Phong, Tra Vinh, Hai Duong... Many international organizations and experts continue to highly appreciate the results and prospects of the Vietnamese economy such as ADB, Standard Chartered, HSBC forecasting Vietnam's GDP growth in 2024 at about 6%; IMF assessed Vietnam as the only Southeast Asian representative in the top 10 with a forecast growth of 6.4% in the period 2024-2029...
The Prime Minister said that the above results were achieved thanks to the drastic participation of the entire political system under the close and timely leadership and direction of the Central Executive Committee, directly and regularly by the Politburo and the Secretariat, headed by General Secretary Nguyen Phu Trong; the close accompaniment and coordination of the National Assembly and agencies in the political system; especially the drastic, focused and key direction of the Government, the Prime Minister, all levels, sectors and localities; the support and active participation of the people and the business community; and the support and assistance of international friends.
Pointing out the shortcomings, limitations, difficulties, challenges and causes, the Prime Minister presented 5 lessons learned from practice. In particular, ministries, branches and localities must base on their functions, tasks and powers, grasp the situation; respond appropriately and effectively with policies, not being passive or surprised; organize implementation with high determination, great efforts, drastic actions, with focus and key points; assign tasks clearly to people, work, time and results; express clearly and easily to facilitate inspection, supervision and evaluation; reward, criticize and discipline promptly, transparently and effectively; perfect legal regulations, mechanisms and policies, remove difficulties, obstacles and legal bottlenecks, because institutions are both resources and driving forces of development...
Stating the target of striving for a growth rate of 6.5-7% in the third quarter, inflation below 4.5%; stabilizing the macro economy, ensuring major balances; ensuring national monetary and financial security; maintaining political stability, national defense, security, social order and safety; deep, substantive and effective international integration..., the Prime Minister thoroughly grasped the direction and management viewpoints to achieve the set goals, striving to reach the highest level of the 2024 plan.
Strongly promote new growth drivers
The Prime Minister requested that in the coming time, ministries, branches and localities synchronously, resolutely and effectively implement the tasks and solutions set out in various fields according to the Conclusions of the Central Committee, the Politburo, key leaders, and Resolutions of the National Assembly and the Government. In particular, it is necessary to ensure the progress and quality of reports, submissions and documents submitted to the Politburo, the 10th Central Conference and the 8th Session of the 15th National Assembly, including the amendment of the Law on Public Investment. Continue to prioritize promoting growth associated with maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy, including operating a reasonable, focused and key expansionary fiscal policy; synchronously and harmoniously coordinating and facilitating the implementation of proactive, flexible, timely and effective monetary policies.
The Prime Minister requested to continue regulating exchange rates and interest rates appropriately; in which, attention should be paid to reducing lending interest rates and borrowing costs to support production and business; ensuring adequate credit supply and increasing access to credit; maintaining stability in the foreign exchange market and gold market; having synchronous solutions in both institutions and market management to combat gold and dollarization, in the short, medium and long term. At the same time, tightening financial and state budget discipline, strengthening revenue management, saving state budget expenditures; implementing exemptions, reductions and extensions of tax, fee, land use fee payment deadlines; reviewing difficulties and obstacles, effectively promoting the real estate, corporate bond and securities markets.
The Head of Government noted strengthening price management; controlling inflation according to the set targets, especially controlling food and fuel prices and having a roadmap for increasing prices of State-managed goods appropriately, avoiding increasing prices of many goods and services at the same time while increasing wages; ensuring adequate supply of electricity and fuel for production, business and consumption; resolutely not allowing power shortages. Issuing mechanisms and policies to encourage the development of self-produced and self-consumed rooftop solar power; developing power projects using natural gas and LNG.
Ministries, branches and localities further promote the disbursement of public investment capital, 3 National Target Programs; continue to promote the activities of 5 Working Groups of the Prime Minister and 26 Working Groups of Government members; resolutely transfer 29.9 trillion VND of public investment capital that has not been allocated in detail; remove difficulties in disbursing ODA capital; strive to disburse over 95% of the assigned plan. Timely handle difficulties and obstacles, speed up the progress of key infrastructure projects. Build and organize well the 500-day emulation program to strive to complete expressway projects so that by 2025 the expressway system from Cao Bang to Ca Mau will be completed, welcoming the 50th anniversary of the liberation of the South, national reunification and the 80th anniversary of National Day.
At the same time, focus on renewing traditional growth drivers and strongly promoting new growth drivers. In particular, in terms of investment, promote the implementation of public investment projects; promote private investment; strengthen public-private partnership; selectively attract FDI; in terms of export, consolidate traditional markets, expand new markets, support businesses in preparing conditions, meeting new standards, green standards, etc.; promote domestic consumption stimulation, promotions, the campaign "Vietnamese people prioritize using Vietnamese goods", e-commerce, and non-cash payments.
“It is necessary to develop and promulgate specific and effective mechanisms and policies to strongly promote new growth drivers; especially in three areas: institutions, mechanisms, policies; regional economic development, regional and urban linkages; digital transformation, green transformation, circular economy, sharing economy, knowledge economy, high value-added sectors, such as semiconductor chips, AI…”, the Prime Minister emphasized.
According to the Prime Minister, ministries and branches must focus on perfecting institutions and laws, reforming administrative procedures, promoting national digital transformation; promptly and fully promulgate Decrees and Circulars, ensuring the effectiveness of the Laws; promptly establish a Steering Committee to review legal problems with the Prime Minister as Chairman and members of the Government as members; promptly promulgate a Plan to implement planning; drastically cut and simplify administrative procedures; promote digital transformation, Project 06, and build a National Data Center. Each ministry, agency, and locality must develop a digital transformation project to connect and effectively implement Project 06; continue to thoroughly handle outstanding and long-standing issues.
Noting that ministries and branches focus on the fields of culture, society, environment, ensuring social security, improving people's lives, the Prime Minister requested to urgently establish a Joint Fund to "eliminate temporary and dilapidated houses", so that by 2025, temporary and dilapidated houses will be eliminated nationwide; well organize activities to celebrate the 77th anniversary of War Invalids and Martyrs Day, "Repaying gratitude", taking care of people with meritorious services to the revolution; ensure medicine, equipment, medical supplies; prevent and combat drowning, especially in children during the summer vacation; improve the quality of education, training, and vocational training; develop high-quality human resources; strengthen forecasting and warning of natural disasters; prepare rescue, relief and overcoming consequences plans.
Directing the consolidation and enhancement of national defense and security, ensuring social order and safety, and strengthening the prevention and fight against corruption and negativity, the Prime Minister noted that it is necessary to strengthen the suppression of all types of crimes, especially cybercrime and high-tech crime; and prevent and fight fires and explosions.
The Prime Minister directed the thoughtful, substantive and effective implementation of foreign affairs activities of senior leaders; inspected and urged the effective implementation of international agreements; strengthened information and communication to create social consensus; actively implemented the tasks of the Socio-Economic Subcommittee of the 14th National Party Congress, ensuring progress and quality.
The Prime Minister requested ministries, branches and localities, based on their functions, tasks and powers, to implement the Resolutions of the Party, Government and National Assembly, especially to handle arising issues well, to carry out well the 3 strategic breakthroughs, especially institutional breakthroughs and infrastructure breakthroughs, focusing on public investment in transport, social, healthcare, electricity and energy infrastructure; to focus on training human resources, in the spirit of "not saying no, not saying difficult, not saying yes but not doing" and "if you say you must do, if you commit, you must do, if you do, you must have specific results".
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