Positive socio-economic results recorded so far: Government meeting

Vietnam saw a continuous recovery trend and positive socio-economic results across all fields in February and the first two months of this year, heard the Government regular meeting held in Hanoi on March 2 under the chair of Prime Minister Pham Minh Chinh.
Prime Minister Pham Minh Chinh addresses the Government meeting (Photo: VNA)
Prime Minister Pham Minh Chinh addresses the Government meeting (Photo: VNA)

Participants noted that the macro-economy was kept stable, inflation reined, in and all major balances of the economy ensured.

In February, the consumer price index (CPI) rose 3.98% year on year, while State budget collection rose 10.4%, completing 23.5% of the yearly estimate. At the same time, import-export revenue increased 18.6%, with trade surplus reaching 4.72 billion USD. Public investment disbursement reached 9.13% of the yearly plan, 2.16% higher than that in the same period last year.

The Index of Industrial Production (IPP) in two months expanded 5.7% over the same period last year. The country attracted more than 3 million foreign visitors, up 68.7% year on year. The total foreign direct investment in the January-February period hit 4.3 billion USD, a surge of 38.6% compared to the same time last year.

Socio-cultural activities received due attention, while social welfare was ensured. During the Lunar New Year (Tet) festival in February, 17,700 tonnes of rice was provided to 693,000 needy people, while Tet gifts worth 2.74 trillion VND (111.13 million USD) were presented to policy beneficiaries, along with 7.8 trillion VND to the needy on the occasion.

Socio-political and defence-security situations were ensured, while external relations and international integration were strengthened, elevating up the country's position in the world arena.

In conclusion of the meeting, Prime Minister Pham Minh Chinh said that so far this year, the government has focused on directing the drastic implementation of set tasks and targets.

The PM issued seven directives, four dispatches, and 18 documents and plans guiding the implementation of laws. Remarkably, the PM approved the action plan of the socio-economic sub-committee serving the 14th National Party Congress, he said.

Regarding priorities for the coming time, the leader underlined the need to promote growth in association with maintaining macro-economic stability, inflation control, ensuring major economic balances, speeding up strategic breakthroughs and economic restructuring, and enhancing the efficiency and competitiveness of the national economy.

He stressed the need for active and flexible management of monetary policies with close and harmonious coordination with fiscal policies.

Ministries, sectors and localities should work hard to increase income and reduce State budget expense, while popularising the use of e-invoice and deploying measures to ensure the supply of power, petrol, and water for business and daily activities, he requested.

The PM underlined the necessity to renovate traditional growth drivers and promote motivations from investment, exports and consumption while speeding up the expansion of new growth motivations from institution completion, resources exploitation, and the development of six socio-economic regions, tapping opportunities from the shifting of the global and regional supply chains, and promoting digital transformation and green transition.

Along with boosting the growth of key sectors, he said it is crucial to speed up the disbursement of public investment capital, striving for a rate of 95% for this year.

Notably, the PM ordered more substantial efforts in administrative reform, removing difficulties facing production and business activities, and the prompt issuance of documents detailing laws and resolutions approved at the NA's sixth and fifth extraordinary sessions.

On the occasion of the 65th founding anniversary of the Border Guard Force (March 3, 1959 - 2024), PM Chinh extended greetings to all officers and soldiers of the force, particularly the Vietnam People's Army in general.

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(Source: VNA)