Priority to be given to ironing out business and production snags, says PM
VOV.VN - Prime Minister Pham Minh Chinh requested that ministries, agencies, and localities prioritise removing obstacles to business and production, while chairing a Government meeting on August 5 in Hanoi to review socio-economic performance in July and outline orientations for August and beyond.
The PM pointed out major internal and external factors that impact national socio-economic development and asked for solutions to be put in place in a bid to address these shortcomings.
Accordingly, the Government leader asked designated agencies to strive to enhance forecasting capability, closely monitor market developments to devise appropriate and timely policy responses, whilst simultaneously developing scenarios and response solutions.
Top priority will be given to removing difficulties for production and business, promoting growth in association with macroeconomic stability, controlling inflation, as well as ensuring people’s lives, the PM ordered.
He reminded the financial and trade sectors to strive to ensure a harmonious and reasonable balance between interest rates and exchange rates, growth and inflation, supply and demand, along with monetary policy and fiscal policy to timely cope with any market fluctuations.
He requested that the designated agencies promptly address concerns of businesses and people to remove difficulties, spur growth, create jobs, and improve livelihoods for people associated with maintaining macroeconomic stability, controlling inflation, and ensuring a greater balance for the economy.
The Government leader also asked them to resolve problems and inadequacies relating to the real estate and corporate bond markets, speed up public investment disbursement, and press forward with regional and provincial planning programmes.
It was reported at the meeting that the national economy is on track to gather full steam against the backdrop of local and global market fluctuations. During the initial seven months of the year, Vietnam enjoyed a trade surplus of US$15.23 billion, a figure 11 times more than the corresponding period from last year. The economy attracted US$16.24 billion in foreign direct investment, representing a rise of 4.5% year on year.
Farmers enjoyed a bumper winter-spring rice crop, with seven-month rice exports rising by 18.7% in volume and 29.6% in value. The tourism industry welcomed 6.6 million foreign arrivals, 6.9 times higher than the same period last year. July alone saw Vietnam receive more than 1 million foreign arrivals, up 6.5% month on month and nearly 3 times higher than the same period last year.
Most international financial institutions produced a positive outlook for the Vietnamese economy in the long term. The International Monetary Fund forecast that the Vietnamese GDP size in purchasing power parity would reach US$1,872 billion by 2026 to surpass Thailand and become the second largest economy in Southeast Asia. Meanwhile, Standard Chartered projected that the Vietnamese economy would recover in the second half of 2023 and grow by 7% by the year’s end.
