PM calls for determination to meet development challenges

>> Prime Minister chairs April periodic government meeting

The head of government called for the constant pursuit of the objectives set, calling on the competent authorities to redouble their efforts. Specific tasks have been defined, including careful preparation of the 7e session of the National Assembly, with emphasis on finalizing bills, resolutions, reports and proposals.

View of the government’s April periodic meeting, in Hanoi, May 4.
Photo: VNA/CVN

Economic policies received particular attention during the meeting. The head of government advocated an active and flexible approach to monetary policy, ensuring its effectiveness in tandem with a reasonably expansionary fiscal policy.

To increase state revenue, he called for accelerated digital transformation, including the application of electronic invoicing, and the development of robust securities, bond, real estate and gold markets. and safe.

He called for continuing to renew traditional growth engines and strengthening new ones, and accelerating the disbursement of public investment capital, including the three national target programs, with 32,000 billion VND (1.33 billion USD) to be allocated.

The decrees and circulars guiding the implementation of the Land Law, the Laws on credit institutions, real estate trade, and housing must be submitted soon to the legislative power to be implemented from July, he said. he said, adding that administrative procedures need to be further simplified to help further improve the business environment.

Prime Minister Pham Minh Chinh.
Photo: VNA/CVN

The head of government also gave further guidance regarding socio-economic and cultural activities, starting with carefully preparing the next 70e anniversary of the Victory of Diên Bien Phu in the localities.

Ministries, agencies and localities were tasked with continuing their fight against corruption and other negative practices, reorganizing administrative units and developing the cultural industry.

Positive outlook

The meeting gave a positive outlook on Vietnam’s economic performance in the first four months of this year. State budget revenue reached 43.1% of the annual projection, reflecting an increase of 10.1% year-on-year; and the total export and import turnover reached 238.88 billion USD, up 15.2% year-on-year, with a trade surplus of 8.4 billion USD.

At the same time, the disbursement of public investment capital improved, reaching 17.46% of the plan assigned by the Prime Minister, or 1.81% more than the same period last year.

In the first four months of the year, the total import-export turnover reached 238.88 billion USD.
Photo: VNA/CVN

The stock of registered foreign direct investments approached USD 9.3 billion, an increase of 4.5%, of which USD 6.3 billion was disbursed, an increase of 7.4%. Major global technology companies are seeking large-scale investment opportunities in Vietnam’s electronics, semiconductor and renewable energy sectors.

Industrial production also saw growth in 54 of 63 localities, with an increase of 6% year-on-year. The number of international arrivals in Vietnam reached 6.2 million, an increase of 68.3% compared to the same period in 2023 and 3.9% compared to 2019.

Several international organizations have forecast an optimistic outlook for Vietnam’s economic growth this year. Among them, the Asian Development Bank (ADB) forecast a growth rate of 6%, while HSBC and Standard Chartered Bank expected 6.3% and 6.7% respectively.

Vietnam’s business environment ranking improved by 12 places and the Global Innovation Index ranked Vietnam at 46e rank out of 132 countries, up two places.

VNA/CVN

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