National Assembly examines socio-economic performance in 2024

According to the government’s report, the national socio-economic landscape has shown steady improvement month over month and quarter over quarter, with notable achievements over the first nine months of 2024. The report highlights that 14 out of 15 socio-economic indicators met or exceeded their set targets for 2024.

The GDP growth rate reached 6.82% for the first nine months and is projected to achieve between 6.8% and 7% for the entire year. If the high growth is secured, it would exceed the National Assembly’s target range of 6–6.5%, placing Vietnam among the fastest-growing economies in the region and globally.

Additionally, the Consumer Price Index (CPI) increased by an average of 3.88% over the nine-month period, despite the impact of significant wage hikes implemented from July 1, 2024.

In his speech, National Assembly Vice Chairman Nguyen Duc Hai asked deputies to focus their discussions on the issues outlined in the Government’s report and examination reports from National Assembly bodies, in order to identify challenges, obstacles, and gaps, as well as proposing solutions to overcome these challenges to meet the target set for 2024 and devise plans for 2025.

National Assembly deputies expressed strong agreement with the Government's report and the examination reports from National Assembly committees on the country's socio-economic situation and the 2024 state budget. They also emphasized the importance of addressing remaining challenges and implementing effective solutions to sustain growth and stability into 2025.

Deputy Tran Quoc Tuan from Tra Vinh province praised Vietnam’s socio-economic achievements in the first nine months of 2024, acknowledging the leadership of the Party Central Committee, the Politburo, the National Assembly, and the Government. He highlighted Vietnam’s stable and promising economic growth despite global challenges, robust export activity, strong foreign investment, and stable macroeconomic indicators, which reinforce the country’s position as a safe and attractive destination for investment. Inflation remained under control, further solidifying macroeconomic stability.

While agreeing with the key tasks and solutions proposed in the Government’s report, Tuan urged the National Assembly and the Government to intensify efforts to combat online fraud and data theft on social media. He also underscored the importance of addressing negative issues in schools, such as the increasing use of electronic and heated tobacco among students. He recommended stricter inspections, supervision, and heavier penalties for violations related to e-cigarettes and heated tobacco sales.

Meanwhile, deputy Nguyen Thi Thuy from Bac Kan province highlighted the severe impact of Typhoon Yagi (Typhoon No. 3) on Vietnam’s socio-economic progress. She proposed special mechanisms to direct additional resources to regions badly affected by the typhoon, particularly mountainous areas, and expected a streamlined process to ensure that support reaches affected communities promptly. These measures aim to mitigate the storm’s damage and assist communities in recovering swiftly, she said.