PM presides over meeting with localities on promoting economic growth
Prime Minister Pham Minh Chinh stressed that the country must pursue rapid but sustainable development, maintain high and continuous growth, uphold macroeconomic stability, control inflation, ensure major balances, and guarantee social welfare, as well as a sustainable, green, clean, and beautiful environment.
Hanoi (VNA) - Prime Minister Pham Minh Chinh on February 21 chaired the Government’s meeting with localities regarding the implementation of the conclu💦sions of the Party Central Committee, and the resolutions of the 🌄National Assembly and the Government on economic growth and acceleration of public investment disbursement.
The event was held in person at the Government headquarters and connected online to 63 provinces and centrally-run cities.
In his opening remarks, Chinh stressed that the year 2025 holds great significance, as it marks many important anniversaries of the nation.
Notably, the growth target is of great importance, since it determines the scale of the economy, GDP per capita, and other key goals. Therefore, it is essential to promote the growth at a high and sustainable level in order to realise the aspiration of building a prosperous, civilised, and wealthy nation in the new era, where the people enjoy increasing prosperity, well-being, and happiness.
Sharing international experience, the government leader noted that since 1990, only 34 economies have successfully escaped the middle-income trap to become high-income countries, while 108 countries have yet to make the transition. In general, the economies reaching the high-income status have maintained an annual growth rate of around 10% for approximately 30 years.
As for Vietnam, since 1986, it has achieved an average growth rate of 6.4% per year. Therefore, in the next two decades, the nation needs to accelerate and make stronger breakthroughs to meet the strategic goal of becoming a developed, high-income country by 2045.
An overview of the meeting held at the Government headquarters (Photo: VNA)
Emphasising that this is a particularly important task for the entire political system, all sectors, localities, the business community, and the people across the country, Chinh stressed that the country must pursue rapid but sustainable development, maintain high and continuous growth, uphold macroeconomic stability, control inflation, ensure major balances, and guarantee social welfare, as well as a sustainable, green, clean, and beautiful environment.
He requested participants to propose measures to renew traditional growth drivers such as investment, exports, and consumption; while promoting new ones like green economy, digital economy, circular economy, sharing economy, creative economy, knowledge economy, artificial intelligence (AI), and semiconductor industry. Among these, public investment continues to be a crucial driver for growth, serving as seed capital to attract private investment, lead social investment capital, and drive overall economic growth, he added./.
Data from the commission’s Vietnam Productivity Institute revealed that while productivity growth slowed during 2020-2023 due to COVID-19 impacts and global political instability, Vietnam maintained an impressive average productivity growth rate of 5.6% annually from 2016 to 2023. This placed Vietnam among the leading nations in Asia for productivity growth, outpacing regional peers such as Singapore (3.3%), Malaysia (2.6%), Thailand (2.6%), the Republic of Korea (3.8%), and Japan (0.2%).
Over the past four decades, Vietnam has made significant efforts in developing an independent and self-reliant economy, while actively expanding its presence in global markets.
Prime Minister Pham Minh Chinh called for transformative solutions for science, technology, innovation, and high-quality human resources to become driving forces for the nation’s rapid and sustainable development, while presiding over a conference in Hanoi on February 11.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
New Zealand is currently one of Vietnam’s most important partners in the region, marked by a high level of political trust, strong and reliable defence and security cooperation, and increasingly open economic, trade, and investment ties.
Party General Secretary To Lam stressed that the Central Public Security Party Committee must be fully aware of the extremely important role of the People's Public Security force in the country's new revolutionary phase, so as to guide each branch and level of the force as the nation undergoes transformation.
Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
The ministry has instructed Vietnamese representative agencies in Israel, Iran, as well as those in neighbouring countries, to closely monitor the situation and request local authorities to ensure absolute safety for Vietnamese citizens living, studying, and working in high-risk areas.
