PM calls for greater efforts to fulfil all set tasks in remaining months

VOV.VN - Prime Minister Pham Minh Chinh has underscored the need to analyse, assess, and note any potential challenges and lessons in a bid to identify tasks and projects that must be completed in September and during the remainder of the year.

PM Chinh chaired a regular monthly cabinet meeting on September 6 that focused on a range of key issues regarding the country’s socio-economic situation in August and during the past eight months. It focused on the implementation of the programe on socio-economic recovery and development, the allocation and disbursement of state budget capital, as well as difficulties, obstacles, and solutions to accelerate the disbursement of public investment capital in the remaining months of the year.

Upon addressing the meeting, the Government chief stated that in August and during the past eight months, many major tasks have been carried out amid severe fluctuations and unfavourable factors such as economics and politics. Rapid, complicated, and unpredictable developments taking place internationally relating to the global economic and political situation, especially the Russia-Ukraine conflict, emerging non-traditional security issues, and increasingly extreme climate change are all significant macro factors in shaping policy.

Most notably, countries continue to face the risk of slowed growth, even recession, while the supply chain, labour, and production are broken locally amid growing inflation and the price of input materials, oil, and gas continues to face fluctuations.

Amid many uncertainties, nations have moved to adopt different anti-pandemic and monetary policies amid the pandemic returning and the situation becoming more complicated. In line with this, Vietnamese export markets have been narrowed, including major markets such as the United States, the EU, and China.

“In that context, we continue to solve many tasks simultaneously such as tackling pending problems relating to the national economy, loss-making projects, and weak credit institutions,” PM Chinh said.

Regular tasks are also heavier as the size of the economy is larger, with competition between economies becoming more intense, with unexpected problems arising due to shrinking markets, rising oil prices, fluctuating exchange rates and high inflation.

With regard to the results, the nation continued to maintain macroeconomic stability, with strong inflation control as CPI in eight months soared by 2.58%, thereby promoting growth and ensuring major balances, including budget revenue and expenditure.

Budget revenue throughout the reviewed period stood at 85.6% of the estimated figure, up 19.4% over the same period from last year, while import-exports throughout the eight-month period reached nearly US$498 billion, up 15.5% on-year.

Moreover, the trade surplus hit US$3.96 billion and the export of agricultural products was roughly US$36.3 billion, thereby ensuring energy, labour supply, and demand.

Trade and services enjoyed rapid recovery across all industries, with disbursed FDI throughout the reviewed period reaching US$12.8 billion, up 10.5% on-year, the highest since 2018 until now.

The number of newly-established enterprises and those returning to operation during the period was nearly 150,000, 1.43 times higher compared to the number of enterprises leaving the market. The total registered capital added to the national economy was close to VND3.64 trillion, up 36.1% over the same period from last year.

It is therefore worth noting that prestigious international organisations and experts highly appreciate Vietnamese economic development results and prospects. The World Bank forecasts Vietnamese GDP will grow at 7.5% this year and 6.7% in 2023, while the Asian Development Bank (ADB) and the International Monetary Fund (IMF) maintain their growth forecasts at 6.5% and 6%.

National defence, security, political stability, social order, and safety have been enhanced, whilst people’s material and spiritual life has improved amid the number of domestic tourists in the past eight months being equal to the whole of 2019, the year before the pandemic broke out.

However, the disbursement of public investment capital and the procurement of drugs, medical supplies, and equipment has seen little improvement, PM Chinh said while emphasizing the necessity of working out proper solutions to deal with issues. This relates to planning work, price stabilization, inflationary pressure, and market shrinking. Additionally, it remains essential to ensure social order and safety for non-traditional security issues amid many complex factors, the cabinet leader added.

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