Socio-economic situation continues positive trend

On the afternoon of September 9, in Hanoi, the Government Office held a regular Government press conference for August 2023. Minister, Head of the Government Office Tran Van Son, Government Spokesperson, chaired the press conference.

Overview of the regular Government Press Conference in August 2023. (Photo: Gia Thanh)

Macroeconomic fundamentals are stable.

Speaking at the press conference, Minister Tran Van Son said that, despite many difficulties and challenges, the socio-economic situation in August continued to trend positively, with many areas achieving better results than in July; creating conditions for achieving higher results in the last months of the year. Specifically:

The macro-economic situation continues to be stable, inflation is controlled, growth is promoted, and major balances are ensured. Inflation continues to decrease gradually; the average CPI in the first 8 months increased by 3.1%, much lower than the target assigned by the National Assembly (about 4.5%).

State budget revenue in the first 8 months reached over 1.12 million billion VND, equivalent to 69.4% of the estimate under the conditions of implementing tax, fee, and charge deferral, exemption and reduction (the total amount of exemption, reduction and extension until the end of August is estimated at 132 trillion VND). Public debt, government debt and state budget deficit are well controlled.

In addition, import and export continued to increase again. In August, export increased by 7.7% compared to July, import increased by 5.7%; trade surplus was nearly 3.82 billion USD. In total, the trade surplus in 8 months was nearly 20.2 billion USD. Energy security and food security were ensured. The labor market recovered well, the balance of labor supply and demand was ensured.

Minister Tran Van Son informed: "The agricultural sector continues to develop steadily, is a bright spot and a solid support for the economy in difficult times. The industrial sector continues to recover; the industrial production index (IIP) in August increased by 2.9% compared to July and increased by 2.6% over the same period (July increased by 2.3%), in which the manufacturing and processing industry increased by 3.5%. The trade and service sector continues to increase quite high".

At the same time, development investment continues to achieve positive results. This is an important driving force for economic growth. The business development situation is increasingly positive. In August, over 14,000 new businesses were established, an increase of 2.3% in the number of businesses and 6.6% in registered capital compared to July.

The Government spokesperson assessed: "In general, in August and the first eight months, the most important result was that we achieved the general goals set: The macro economy was basically stable; inflation was controlled; growth was promoted; major balances, social security, and people's lives were guaranteed; politics and society were stable; national defense and security were maintained; foreign affairs and international integration were promoted, international prestige was increasing; a peaceful and stable environment for national development was maintained."

Focus on promoting 3 growth drivers

Regarding the main tasks and solutions, the Prime Minister requested ministries, branches and localities to perform the following tasks:

Continue to resolutely and effectively implement the Resolution of the 13th National Congress, the Resolutions and conclusions of the Central Committee, the Politburo, the Secretariat, key leaders; of the National Assembly, the Government and the direction of the Prime Minister.

Focus on promoting 3 growth drivers. Specifically, in terms of investment, promote disbursement of public investment capital, social investment, mobilize social resources, further promote private investment and foreign investment; strengthen public-private partnership (PPP); actively and proactively attract selective FDI, ensuring quality.

Regarding exports, maintain and consolidate traditional markets and actively expand new markets. Regarding consumption, focus on developing the domestic market; promote the campaign for Vietnamese people to prioritize using Vietnamese goods, widely organize promotional programs to stimulate consumption;

Regarding fiscal and monetary policy management, continue to implement proactive, flexible, timely, and effective monetary policies, enhance access to capital, and promote credit growth in priority areas.

Regarding the development of key sectors and fields: Regarding industry, focus on removing difficulties, promoting the recovery of industrial production, focusing on the processing and manufacturing industry, restoring the supply chain; speeding up the progress of large-scale, high-tech projects with strong spillover effects.

Regarding agriculture, focus on boosting agricultural production, especially food, foodstuffs, and essential goods; make good use of opportunities to export agricultural products, while ensuring national food security; resolutely, synchronously, and effectively implement solutions to combat illegal fishing to remove the EU's yellow card (IUU).

Regarding services and tourism, focus on developing service industries with potential, advantages, and high technology applications; promote propaganda and communication about new visa policies, extend the length of stay, and promote tourism in key markets; prepare well for the peak international tourism season.

Regarding the work of building and perfecting institutions: Focus on reviewing legal regulations, mechanisms and policies; promptly detect shortcomings and obstacles and proactively amend, perfect or propose to competent authorities according to regulations. Focus on promptly and effectively handling recommendations and proposals from localities, agencies, people, enterprises and industry associations in a spirit of openness and listening.

Focus on rectifying, strengthening responsibility and improving the effectiveness of administrative procedure reform (AP) associated with digital transformation, improving the efficiency of national public services; resolutely cutting and absolutely not issuing additional unnecessary APs, increasing costs and implementation time for people and businesses.

Regarding culture, society, national defense, security, and foreign affairs: Focus on developing the fields of culture, society, health, education, and training; ensuring social security, improving people's lives...

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