On the morning of October 7, at the Government Headquarters, Prime Minister Pham Minh Chinh chaired the regular online September Government meeting with 63 provinces and centrally-run cities to discuss the socio-economic situation in September and the first 9 months of 2024, the situation of public investment capital allocation and disbursement, implementation of 3 National Target Programs...; set out directions and tasks for the coming time...
In his opening remarks, Prime Minister Pham Minh Chinh stated that this meeting aims to review the situation in the third quarter, look back at the past 9 months, and prepare for the fourth quarter of 2024. We have passed 3/4 of the way through 2024, which is identified as a year of acceleration and breakthrough in the 5-year socio-economic development plan for 2021-2025. However, this year has encountered many difficulties.
The world situation has several emerging factors: the situation continues to develop in a complex and unpredictable manner, with fierce strategic competition emerging; Escalating conflicts in Ukraine, the Middle East and many other places have caused strong fluctuations in gold, crude oil and freight rates; economic growth, trade and investment have recovered slowly; non-traditional security factors, especially population aging, resource depletion, natural disasters, climate change, energy and food security, and cyber security have developed complicatedly; science and technology, digital transformation and green transformation are major trends but pose many difficulties and challenges.
The country continues to be affected by unfavorable external factors due to the high openness of the economy, internal factors that persist due to economic structure, long-term loss-making projects, land-related issues, etc.; during the transition process, we still face many difficulties due to working, researching, and expanding at the same time. In particular, the storm storm no. 3 caused serious consequences in the northern localities, killing, injuring and leaving many people missing, causing great damage to state and people's property, estimated at more than 81 trillion VND.
The Prime Minister assessed that in that context, all levels, sectors and localities have made outstanding efforts, overcome difficulties, seized opportunities and advantages, promoted the spirit of "Discipline, responsibility, proactiveness, accelerated innovation, sustainable efficiency", "only discuss action, no retreat". Thanks to that, the socio-economic situation continues to recover positively, each month is better than the previous month, each quarter is higher than the previous quarter; the first 9 months of 2024 are better than the first 9 months of 2023. Economic growth continues to recover strongly; the macro economy remains stable, inflation is controlled, major balances are ensured; policy responses and actions of all levels, sectors and localities are bright spots in this quarter, especially the quick response and recovery after storms and floods.
The Secretaries and Chairmen of the People's Committees of provinces and cities have been very active and given strong directions. The fields of culture, society, sports, health care and education have been developed with much attention and achieved many good results; social security has been ensured; people's lives have continued to improve. In the midst of difficulties, "national love and solidarity", "mutual love and affection" have been clearly demonstrated; national independence, sovereignty, political security, and social order and safety have been maintained; foreign affairs and international integration have been promoted; the country's prestige and position have continued to be raised.
Besides the basic results achieved, we cannot be negligent or subjective, there are still many shortcomings, limitations, difficulties and problems in various fields, including: the world economic situation has potential risks; storm no. 3 The impact is severe, many northern localities are having to focus on overcoming it, some people's lives are still difficult due to the consequences of storms and floods; administrative reform still has barriers, so we need to look straight at the truth.
The Prime Minister stated that the tasks set for October and the fourth quarter of 2024 are very heavy, so it is necessary to promote achievements and strengths, take advantage of external opportunities and advantages, for example, countries are loosening monetary policies, taking advantage of markets to promote 3 growth drivers, especially promoting domestic consumption, expanding export markets in the context of global difficulties; related to disbursement of public investment capital, need to be more active; overcome storm No. 3; internal issues such as removing difficulties and obstacles related to institutions, especially institutions for mobilizing resources in society and people.
Note that time is limited, content is extensive, and requirements are high, so the Prime Minister requested that local leaders actively contribute ideas and solutions to complete all targets. socio-economic development 2024, especially the growth target. We must closely grasp the situation, make specific and accurate assessments, thereby responding promptly, quickly and effectively with policies, ensuring resilience to external shocks, especially shocks caused by natural disasters.
The Prime Minister hopes that delegates will contribute opinions and propose solutions to continue ensuring macroeconomic stability, controlling inflation, ensuring major balances, and improving people's lives in the coming time.
* According to the General Statistics Office, GDP in the third quarter of 2024 is estimated to increase by 7.4% over the same period last year; GDP in the first nine months of 2024 is estimated to increase by 6.82% over the same period last year. The added value of the entire industrial sector in the first nine months of 2024 is estimated to increase by 8.34% over the same period last year (the first quarter increased by 6.47%; the second quarter increased by 8.78%; the third quarter increased by 9.59%).
In September, the country had 11.2 thousand newly established enterprises, down 16.3% compared to the previous month and down 5% compared to the same period last year; nearly 6.5 thousand enterprises returned to operation, down 23.7% and up 11.6%; 4,233 enterprises registered to temporarily suspend business for a period of time, down 20.6% and up 2.6%; 7,410 enterprises stopped operating pending dissolution procedures, up 43.6% and up 40.5%; 1,605 enterprises completed dissolution procedures, down 16.7% and up 26.8%.
In the first 9 months of 2024, the whole country had more than 183 thousand newly registered and resuming operations enterprises, an increase of 9.7% over the same period in 2023.
Total retail sales of goods and consumer services revenue at current prices in September is estimated at VND535.8 trillion, up 7.6% over the same period last year.
In the first 9 months of 2024, the total retail sales of goods and consumer service revenue at current prices is estimated at VND 4,703.4 trillion, up 8.8% over the same period last year (the same period in 2023 increased by 10.1%), if excluding price factors, it increased by 5.8% (the same period in 2023 increased by 7.6%).
Total social investment capital in the third quarter of 2024 at current prices is estimated at VND 966.7 trillion, up 7% over the same period last year. In the first 9 months of 2024, total social investment capital at current prices is estimated at VND 2,417.2 trillion, up 6.8% over the same period last year.
Total registered foreign investment capital in Vietnam as of September 30, 2024, including newly registered capital, adjusted registered capital, and capital contribution and share purchase value of foreign investors, reached 24.78 billion USD, up 11.6% over the same period last year. FDI capital realized in Vietnam in the first nine months of 2024 is estimated at 17.34 billion USD, up 8.9% over the same period last year.
Preliminary export turnover of goods in September 2024 reached 34.05 billion USD, down 9.9% compared to the previous month and up 10.7% compared to the same period last year. In the third quarter of 2024, preliminary export turnover reached 108.6 billion USD, up 15.8% compared to the same period last year and up 10.6% compared to the second quarter of 2024.
In the first 9 months of 2024, the preliminary export turnover of goods reached 299.63 billion USD, up 15.4% over the same period last year. Of which, the domestic economic sector reached 83.47 billion USD, up 20.7%, accounting for 27.9% of total export turnover; the foreign-invested sector (including crude oil) reached 216.16 billion USD, up 13.4%, accounting for 72.1%.
Preliminary import turnover of goods in September 2024 reached 31.76 billion USD, down 5.9% compared to the previous month and up 11.1% compared to the same period last year. In the third quarter of 2024, preliminary import turnover reached 99.74 billion USD, up 17.2% compared to the same period last year and up 6.1% compared to the second quarter of 2024.
In the first 9 months of 2024, the preliminary import turnover of goods reached 278.84 billion USD, up 17.3% over the same period last year, of which the domestic economic sector reached 100.85 billion USD, up 18.8%; the foreign-invested sector reached 177.99 billion USD, up 16.5%.
The preliminary trade balance of goods in September had a trade surplus of 2.29 billion USD. In the first 9 months of 2024, the preliminary trade balance of goods had a trade surplus of 20.79 billion USD (the same period last year had a trade surplus of 22.1 billion USD)...
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