The session was the cabinet’s first meeting after the Lunar New Year holiday.

In his opening speech, the Government leader said the global situation in February 2026 had evolved rapidly, with complex and unpredictable developments. He cited new tariff policies introduced by the US and the expansion of military tensions involving the US,  Israel and Iran across parts of the Middle East, which has disrupted global maritime and air transport and affected supply chains as well as oil and LNG prices.

Domestically, ministries, sectors and local administrations have been actively implementing the resolution of the 14th National Party Congress and specialized resolutions of the Politburo. People across the country celebrated the Lunar New Year in a festive, warm and safe atmosphere.

After the holiday, nationwide efforts resumed immediately to perform socio-economic development tasks, prepare for elections to the National Assembly and People’s Councils at all levels, and respond in a timely manner to global developments.

According to the PM, thanks to the strong engagement of the entire political system, the public and the business community, socio-economic conditions in February and the first two months of 2026 continued to show a very positive trend, with important results recorded across many sectors.

However, the economy still faces limitations and challenges. Macroeconomic management continues to face strong pressures, including inflation, exchange rates and interest rates, while gold and silver prices have fluctuated sharply.

Chinh highlighted the enormous capital needed to sustain a 10% growth target, adding that some sectors continue to face difficulties in production and business activities, while administrative procedures remain cumbersome.

During the meeting, the Government leader asked cabinet members and participants to focus discussions on the socio-economic situation in the first two months of 2026 and priorities for the coming period.

Participants were asked to assess developments in February and the first two months of the year, including whether policy responses had been timely, flexible and effective in light of global developments.

They were also asked to analyse the international outlook, assess both positive and negative factors and propose response scenarios to avoid the country being caught off guard by new developments.

Delegates also reviewed the implementation of the resolution of the 14th National Party Congress and specialised resolutions of the Politburo, as well as socio-economic development results and major bottlenecks that need to be removed.

PM Chinh  urged participants to propose key tasks and solutions for March, the first quarter and the period ahead. These include identifying breakthrough areas to achieve the country’s double-digit growth target and other development goals, accelerating public investment disbursement, mobilising social resources, and promoting development in culture, society, environmental protection, national defence, security and foreign affairs.

PM Pham Minh Chinh chairs first regular Government meeting

Prime Minister Pham Minh Chinh on May 5 presided over the Government’s April meeting, which was the first meeting of the Cabinet after it completed the personnel work last month.

PM Pham Minh Chinh holds dialogue with farmers nationwide

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