Administrative apparatus streamlining

Emphasizing “institutional reform is the breakthrough of breakthroughs”, Chinh said the government is committed to streamlining its administrative apparatus and accelerate administrative reform and digital transformation to improve the efficiency of its operation and governance.

A key directive, he said, is for ministries and agencies to review and propose mechanisms and policies that have been piloted at the local level and proved effective for broader application. These efforts should be expedited to develop new growth drivers and create a more flexible, efficient, and innovative system.

The PM requested the Ministry of Finance to urgently complete the regulations for managing digital assets and cryptocurrencies, aiming to submit these regulations to the government by March 2025.

He asked the Ministry of Home Affairs to take the lead in ensuring effective administrative restructuring, including the merger of provincial administrative units, and the abolition of district-level administrative units.

At the same time, the ministry was required to continue the merger of commune-level administrative units and present the proposal to the Government’s Party Committee before it is reported to the Politburo.

These measures, he affirmed, aim to build a streamlined, efficient, and responsive governance framework that supports the modernization of the economy and ensures better service delivery to the public.

Toward 8% GDP growth

At the meeting, after reviewing socio-economic performance in February and the past two months, the PM emphasized that the target of achieving GDP growth of 8% or more in 2025 remains a significant challenge due to external factors that requires continued efforts.

The most important task is to maintain macroeconomic stability, control inflation, and ensure the balance of key economic indicators amidst increasingly complex and unpredictable developments in the global geopolitical and economic landscape, he remained.

To this end, the PM suggested that priority be given to reducing interest rates, increasing revenue, cutting unnecessary expenses, reducing taxes and fees, and ensuring sufficient credit.

He emphasized the importance of ensuring energy security, particularly for electricity, oil, gas, and natural gas, and preparing for a government meeting later in the week to address issues arising from trade competition and changes in policies, especially concerning taxes and issues related to Vietnam’s relations with the United States.

The PM also called for enhanced foreign direct investment (FDI) attraction, especially in high-tech sectors such as processing and manufacturing, electronics, semiconductors, and hydrogen, and the effective use of the 17 free trade agreements (FTAs) that Vietnam has signed with partners.

Administrative barriers to FDI attraction and implementation must be removed to speed up projects, he said.

In addition, he said, more efforts should be made to accelerate negotiations of new FTAs, explore new and potential markets, and stimulate domestic consumption, e-commerce, and cashless payment.

According to the Government leader, it’s imperative to promote the campaign “Vietnamese people prioritize using Vietnamese products”, work out specific plans to attract both domestic and international tourists, and consider expanding visa exemptions for select countries.

He underscored the need to resolve long-standing issues and delayed projects, particularly in real estate, and called for a focus on cultural, social, and environmental issues, as well as national defence and public safety. Anti-corruption efforts and greater international integration were also prioritized to achieve sustainable socio-economic development.

Gov’t reviews socio-economic performance toward 8% GDP growth target for 2025

VOV.VN - The Government convened a regular monthly meeting for February in Hanoi on March 5 to review socio-economic performance in the past two months, and identify priorities to ensure the national GDP growth target of at least 8% in 2025.