Socio-economic recovery is clear, achieving and exceeding 14/15 main targets.
Presenting the report on the implementation of the 2024 Socio-Economic Development Plan and the projected 2025 Socio-Economic Development Plan, Minister of Planning and Investment Nguyen Chi Dung said that in recent times, the socio-economic situation of our country has affirmed a clear recovery, with each month being better than the previous month, each quarter being higher than the previous quarter, achieving the set general goals and many important results in all fields. Based on the results of the first 8 months, it is estimated that 14/15 main targets will be achieved and exceeded in 2024; including achieving and exceeding all social targets, achieving the target of average social labor productivity growth rate.
In particular, economic growth was higher than the set target; the macro economy was basically stable, inflation was controlled, major balances were ensured, the state budget deficit was controlled, public debt and government debt were much lower than the allowed target. The work of perfecting institutions and laws was directed resolutely, with the spirit of reform and innovation in thinking, thinking, and doing, promoting decentralization and delegation of power. Infrastructure development was strongly promoted, with clear breakthroughs, especially in transport and electricity infrastructure. Continue to promote economic restructuring, renew the growth model, improve productivity, quality and competitiveness of the economy. Focus on developing high-quality human resources associated with strongly promoting science and technology, innovation, startups, high-tech industries and fields, creating new growth drivers for the economy.
However, macroeconomic stability still has potential risks, especially from external factors such as inflation and exchange rates. Credit growth is not high; the pressure to repay corporate bonds due is high. Production and business activities face many difficulties; they have to face increasing pressure on anti-dumping investigations and origin fraud; they have to respond faster and better to technical barriers related to the environment, sustainable development, green transformation, etc. Domestic purchasing power shows signs of slowing down. The trade surplus still depends on the FDI sector. There are still some problems and shortcomings in institutions and laws that have not been promptly amended and supplemented to suit the reality and development requirements. Decentralization, delegation of authority, reduction of some regulations, administrative procedures, standards, technical regulations, and cumbersome business conditions are not thorough.
Reviewing and evaluating the results of the implementation of the 2024 Socio-Economic Development Plan; the projected Socio-Economic Development Plan for 2025, Chairman of the Economic Committee Vu Hong Thanh suggested paying more attention and evaluating a number of issues such as: weak recovery of aggregate demand, in which consumer demand increased lower than expected in the context of inflation under more pressure in the last months of the year, public investment and private investment increased slowly; production and business activities of enterprises still faced many difficulties; the financial and monetary markets still had potential challenges, bad debt was high, the handling of weak banks was slow, credit growth in the first months of the year was still low, the ability of enterprises to absorb capital and access credit capital was still limited.
Along with that, the Chairman of the Economic Committee noted that the real estate market has shown signs of recovery but still faces difficulties. The imbalanced product structure in the market has pushed up the prices of apartments in the primary and secondary segments, making it difficult for people with real housing needs to access. Some bottlenecks have not been effectively resolved, such as the slow implementation of the National Power Plan and the National Energy Master Plan. The work of formulating and implementing the Law and Ordinance Development Program still has some limitations and shortcomings.
In addition, counterfeit goods, poor quality goods, and goods of unknown origin continue to be one of the pressing social issues, leaving negative consequences such as affecting the health and finances of consumers, reducing consumer confidence in the transparency of the goods market, and reducing the reputation of genuine manufacturers and businesses. The lives of a segment of the population are still difficult, especially Typhoon No. 3 Yagi has caused very serious damage to people and property and may have a negative impact on the work of hunger eradication and poverty reduction in our country. The population continues to age rapidly, Vietnam is preparing to enter a period of transition from "aging population" to "aging population". The situation of accidents, injuries, and child abuse still occurs, including serious cases of child abuse and violence, causing public outrage.
It is necessary to ensure the progress of issuing documents detailing the implementation of the law.
At the meeting, delegates highly appreciated the Government's efforts and completion of most of the targets assigned by the National Assembly last year, and at the same time, they assessed that these positive results demonstrated the determination of the Government, ministries and branches. Delegates also expressed many opinions on the results achieved, shortcomings and limitations in socio-economic development in 2024; the decisions of the National Assembly, the Government's management, the implementation of 15 targets assigned by the National Assembly; ensuring major balances of the economy, financial security, energy, food, savings, inflation control, rural and agricultural development, industry; restructuring the economy associated with innovation of the growth model, quality of human resources, labor and employment; implementing cultural, educational and health policies, ensuring social security, fighting against crime, ensuring security and national defense; issues related to natural disaster prevention, floods, especially overcoming the severe consequences of the recent storm No. 3.
Speaking at the meeting, Chairwoman of the Judiciary Committee Le Thi Nga said that although the State Bank has recently directed commercial banks to sell gold and has reduced the gap between international and domestic gold prices, this is still a gold market with many risk factors. The Chairwoman of the Judiciary Committee suggested that the Government continue to manage and regulate the gold market to ensure that the domestic market is stable and does not differ much from the international market.
Discussing the solution to continue perfecting the institution, Vice Chairman of the National Assembly Nguyen Khac Dinh emphasized that this is a very fundamental solution, contributing to improving the business environment, removing difficulties, and overcoming policy delays. Although the Government and ministries and branches have shown great determination, many documents guiding the implementation of the Land Law, Housing Law, and Real Estate Business Law in localities have not been issued yet. This delay pushes back the time for the law to come into effect, making it impossible for the law to have the positive effects in practice as originally expected when the law was developed and amended.
At the upcoming session, the National Assembly will also amend many important laws in the fields of investment, finance, and tax. The Vice Chairman of the National Assembly said that it is necessary to demonstrate a new spirit and approach to remove difficulties, improve administrative procedures to the maximum, and thoroughly grasp the National Assembly's legal viewpoint that only regulates issues under the authority of the National Assembly, not legalizing decrees and circulars, creating conditions for the Government to flexibly operate in the process of socio-economic development.
Commenting at the meeting, Secretary General of the National Assembly and Head of the National Assembly Office Bui Van Cuong said that it is necessary to adjust the report's layout to be balanced and harmonious, supplement information, and carefully analyze to clarify the difficulties businesses are facing in the production and business process, to provide a complete and realistic picture of the economic and social situation. At the same time, the Secretary General of the National Assembly and Head of the National Assembly Office suggested that the report should have a section stating a general assessment, to not only provide full information on the results achieved, but also clarify the leadership, direction, and management in each field.
Commenting at the meeting, National Assembly Chairman Tran Thanh Man highly appreciated the reports presented, and at the same time, reminded ministries and branches about a number of issues such as: the issuance of documents detailing the implementation of the law has not ensured progress requirements; the financial and banking markets continue to have some fluctuations; the real estate market still has many shortcomings; the labor market still has a phenomenon of local labor supply and demand imbalance and uneven development between regions, areas, economic sectors and professions; the natural disaster situation continues to develop complicatedly from now until the end of the year.
The National Assembly Chairman proposed to strengthen the adjustment of fiscal policies more appropriately and effectively in 2025; stop the downward trend of the real estate market combined with better control of the number of new houses being built; revive the capital market, create favorable conditions for people and businesses to borrow capital to develop production and business; increase support for businesses facing difficulties, create favorable conditions for private enterprises to develop; stimulate consumption, expand domestic consumption demand; ensure supply and stability for essential goods; pay attention to directing national target programs.
Concluding the meeting, Vice Chairman of the National Assembly Nguyen Duc Hai stated that the National Assembly Standing Committee basically agreed with and highly appreciated the Government's Report and the Economic Committee's Verification Report. In 2024, thanks to determination and drastic direction and management, our country overcame difficulties and challenges, Vietnam's socio-economy continued to recover and develop, expected to achieve and exceed 14/15 main targets, of which GDP growth reached 6.87%, which was positively assessed by international organizations and had growth prospects. The average consumer price index increased below 4.5%, inflation was controlled in the context of a high minimum wage increase, and currency and foreign exchange market rates developed in line with the world market. Budget revenue is estimated to increase by 10.1% compared to the estimate, agriculture, forestry and fishery maintained a good growth, industrial production recovered positively, services are estimated to increase by 7%, private investment increased by 6.7%, realized FDI capital is estimated to increase by 8.9%, the highest since 2021.
The Vice Chairman of the National Assembly requested the Government to take into account the opinions of the Chairman of the National Assembly, the Standing Committee of the National Assembly, and the opinions of the reviewing agencies, and complete the socio-economic report to send to the National Assembly and the reviewing agencies. The Economic Review Committee will officially submit it to the National Assembly at the 8th Session.
Source: https://baotainguyenmoitruong.vn/thuong-vu-quoc-hoi-cho-y-kien-ve-ke-hoach-phat-trien-kt-xh-nam-2025-381371.html
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