Government chief calls for greater efforts to streamline State apparatus

PM Chinh chaired a monthly regular cabinet meeting on December 7 in Hanoi as part of efforts to assess the socio-economic situation in November and over the past 11 months, as well as to outline key tasks and solutions for December and next year.

Cabinet members discussed and assessed the socio-economic situation for November and the past 11 months, as well as tasks and solutions for socio-economic development in December and the whole year of 2024. This is along with focusing on the situation of allocation and disbursement of public investment capital; the implementation of 3 National Target Programs and reviewing the draft Resolution of the Government on the main tasks and solutions to implement the socio-economic development plan and the state budget estimate for 2025.

The Government's draft resolution on key tasks and solutions is therefore to improve the local business environment and to enhance national competitiveness by 2025; whilst the direction and administration of the Government, the Prime Minister, and many other important issues were also touched upon.

Reporting at the meeting, the Ministry of Planning and Investment said that the socio-economic situation in November and the first 11 months of the year achieved many important results, better than the same period from last year in most areas. Most notably, the macro economy was basically stable, inflation was controlled, and major balances were ensured.

Import-export turnover, exports, and imports in 11 months soared by 15.3%, 14.4%, and 16.5%, respectively, over the same period, whilst the trade surplus is estimated to be at US$23.03 billion.

Major balances, energy security, and food security were all ensured. Industrial production index (IIP) in November and the 11 month-period increased by 8.9% and 8.4% on-year, of which the processing and manufacturing industry surged by 9.7%. In addition, the purchasing managers index (PMI) in November reached 50.8 points, continuing to show a positive industrial growth trend.

Major localities such as Ho Chi Minh City, Hanoi, Hai Phong, Da Nang, Binh Duong, and Dong Nai all are forecast to record high growth in the fourth quarter, leading the overall growth rate of the whole country this year which is likely to reach and exceed 7%.

International organizations have highly appreciated and continuously adjusted the nation's growth forecasts in an increasingly positive direction, whilst local firms have regained confidence in the economic outlook.

The IMF has assessed the nation to be one of the countries with the highest growth in the world, strong exports, and good FDI attraction. Indeed, the Vietnamese merchandise export scale ranks 23rd in the world and imports rank 22nd in the world.

In his speech, he asked for efforts to be made to strive to maintain growth momentum whilst ensuring that GDP in the fourth quarter of 2024 increases by 7.5%, thus enabling the whole year’s growth to stand at over 7%.

It can therefore be considered imperative to evaluate the international and regional situation, including the election issues in the United States, escalating conflicts in various regions globally, and political fluctuations occurring in some countries. These issues are affecting the world’s economic activity. According to assessments, the economic recovery is slow and unstable, the devaluation of the US$ drags down a number of other currencies; and natural disasters and climate change have seen complicated developments.

Domestically, in November, the Government did many things such as focusing on building a plan to re-organize the organizational apparatus, as well as the eighth session of the 15th National Assembly, working on many issues to submit to the legislature.

PM Chinh assessed that ministries and branches have tried their best to complete the proposed work with high quality and promptly handle issues related to socio-economic development. This is as well as redefining the issue of higher growth priorities, striving to achieve GDP growth of more than 7% this year, and completing all 15/15 set targets.

The Government leader therefore asked cabinet members to give more assessments regarding the country’s socio-economic recovery, prioritized issues for growth, social security, the implementation of big and new projects, bright spots in socio-economic development in November and the past 11 months, as well as difficulties and challenges facing the nation.

Concerning the forecast for the situation in December and work from now until the end of the year, the Government leader emphasized that ministries and branches need to focus on accelerating, making breakthroughs, and successfully fulfilling the targets of the year.

These efforts will therefore contribute to the overall achievements of the five-year socio-economic development plan; concentrate on organizing and streamlining the organizational apparatus effectively and efficiently in association with restructuring the contingent of officials, civil servants, and public employees to improve the quality of operations; and focus on summarizing the work in 2024 and building a plan ahead for 2025.

Regarding key tasks and solutions moving forward, PM Chinh requested that cabinet members, heads of ministries, sectors, and localities must have innovative and breakthrough thinking with high determination, great efforts, and drastic actions in a bid to fulfill all the set targets.

He also stressed the need for discipline, responsibility, proactiveness, streamlined organizational apparatus, and efficiency to create momentum for breakthroughs and to strive for 8% growth in 2025 and keep inflation at 4%.