PM Chinh underscores accelerating development with fresh impetus in time ahead
VOV.VN - Prime Minister Pham Minh Chinh has clearly pointed out the major groups of tasks and solutions aimed at accelerating development with fresh impetus and momentum to fulfill the goals set for the first quarter, as well as the first half of the year, the whole year 2024, and the five-year term.
PM Chinh chaired a regular cabinet meeting for February on March 2, discussing the socio-economic situation in February and the first two months of the year, the implementation of three national target programmes, along with the disbursement of public investment capital and key directions in March and the coming time.
Reporting at the meeting, Minister of Planning and Investment Nguyen Chi Dung said that the socio-economic situation in February continued the positive recovery trend, although the results achieved in some fields were not high due to the Lunar New Year (Tet) long period.
Overall, the past two months has seen most fields obtain better results than the same period from 2023, with a stable macro-economy, controlled inflation, promoted growth, and guaranteed major balances. The consumer price index (CPI) in February also increased by 1.04% compared to January, whilst the average increase of two months stood at 3.67%.
All three regions saw positive development and the agriculture sector also developed stably. Industrial production surged by 5.7% over the same period; total retail sales of goods and consumer service revenue rose by 8.1%; and international visitors reached over three million, an increase of 68.7% on-year.
The Purchasing Managers' Index (PMI) in February hit 50.4 points, showing the improvement of the manufacturing industry, in which both output and the number of new orders also increased.
Total import-export turnover in the two-month period increased by 18.6%, of which exports soared by 19.2%; the domestic sector increased by 33.3%, much higher than the FDI sector at 14.7%; imports increased 18%; and the trade surplus reached US$4.72 billion.
Energy security and food security were ensured as rice exports during the two-month period reached 912 thousand tonnes, recording a turnover of US$639 million, up 74.8% and 96.6%, respectively, over the same period, while balance between labour supply and demand were guaranteed.
Development investment continued to show positive signs. The disbursement of public investment capital throughout the reviewed period met 9.13% of the plan, higher than the same period at 6.97%. FDI attraction reached US$4.29 billion, an increase of 38.6%; and implemented FDI capital hit US$2.8 billion, up 9.8% over the same period. In addition, there were 39,553 valid FDI projects with a total registered capital of over US$473 billion and a total realized capital of nearly US$300 billion.
Remarkable improvements were seen in socio-cultural fields and people's lives. In February, 94.2% of households enjoyed a stable income, higher than the same period in 2023.
The socio-politic situation was stable, coupled with maintained national defence and security which guaranteed social order and safety. Administrative reform, anti- corruption, and negative phenomena have been promoted, with many major economic and corruption cases being prosecuted and tried, thereby further contributing to consolidating people's trust.
Foreign affairs and international integration have been promoted, with the successful organisation of many foreign relations activities of Party and State leaders, while the country’s prestige and position has continued to be enhanced.
Numerous international organisations and experts continued to highly appreciate the results of management direction and prospects of the Vietnamese economy. The IMF forecast that the nation is among the 20 highest growing economies in the world, whilst Fitch Ratings predicted that Vietnamese economic growth will reach 6.3% for this year and rise to 7.0% in 2025.
At the meeting, cabinet members carefully discussed, analyzed the situation, and proposed tasks and solutions for socio-economic development in March and the coming time. In particular, they focused on evaluating leadership, direction, and implementation, as well as examining ways to ensure macroeconomic and major balances, control inflation, promote growth, and the social security situation.
They underlined the need to strongly promote digital transformation; as well as developing the green economy, circular economy, knowledge economy, and sharing economy; while also giving priority to growth drivers such as consumption, investment, and exports, and foreign direct investment (FDI) attraction.
The focus will also be on resolving difficulties and obstacles faced in some areas such as bidding for drugs and medical supplies, and also continuing to implement strategic breakthroughs and train human resources.
Concluding the meeting, PM Chinh analysed the world and domestic situation and pointed out shortcomings, limitations, and difficulties that need to be resolved in order to strong intensify production and business activities. This should be done by creating favourable conditions for people and businesses to promote creativity and responsibility towards the country.
In the coming time, the Government chief called for greater combined efforts to continue to thoroughly grasp and implement synchronously, drastically, and effectively the proposed tasks and solutions.
He requested that each ministry, agency, and locality carefully review the tasks set for March and the first quarter in association with the tasks of the whole year, and focus on consistently implementing the goal of prioritizing growth coupled with controlling inflation, and ensuring both macroeconomic stability and major economic balances.
