Strive for growth to reach the upper limit and inflation to be at the lower limit compared to the target

Also attending were Deputy Prime Ministers Le Minh Khai, Tran Hong Ha, Le Thanh Long; Ministers, Heads of ministerial-level agencies, Government agencies; representatives of leaders of a number of central ministries and branches; leaders of a number of economic groups, corporations, and state-owned commercial banks.

Government leaders and delegates assessed that after 5 months of 2024, the world situation continued to develop in a complicated and unpredictable manner. The world economy, especially large economies and those with economic relations with Vietnam, was recovering, but slowly, with many difficulties, significantly affecting the Vietnamese economic situation; while domestically, the economy still had internal problems.

The Government and the Prime Minister closely follow the situation, direct and operate resolutely and closely. Therefore, Vietnam's macro-economy continues to be stable, core inflation is under control, major balances are ensured; public debt, government debt, and foreign debt are within the allowable threshold; many world institutions are optimistic and forecast Vietnam's GDP growth in 2024 to reach over 6%.

Delegates said that in the coming time, the macro economy and inflation will continue to be under pressure due to complex and unpredictable developments in the world; policy adjustments by major economies having economic relations with Vietnam; as well as developments in the currency market, foreign exchange, gold prices, prices of goods in the domestic market, etc. Therefore, solutions and great efforts from all levels and sectors are needed to achieve the set goals.

Concluding the meeting, Prime Minister Pham Minh Chinh analyzed and assessed the opportunities, advantages, difficulties and challenges and said that there are more difficulties and challenges than opportunities and advantages, but he is determined to successfully implement the Resolutions and Conclusions of the Central Committee, the National Assembly and the Government on socio-economic development in 2024, in which he strives to achieve growth at the upper limit, inflation at the lower limit compared to the growth target of 6-6.5% and inflation at 4-4.5%; stabilize the macro-economy, ensure major balances of the economy; control budget deficit, public debt, government debt, foreign debt according to the Resolution of the National Assembly, the Resolution of the 13th National Party Congress, and the Resolutions set forth by the Central Committee.

The Prime Minister thoroughly grasped the spirit of proactively attacking and defending early, from afar, from the starting point, from the grassroots; not being perfectionist, not being hasty; not operating hastily, jerkily but flexibly, smoothly, and effectively; "only discussing action, not retreating"; not being negligent, subjective, losing vigilance, but also not being pessimistic, fearful; having feasible measures, promoting the spirit of initiative, positivity, innovation, daring to think, daring to do; being flexible in directing, operating, coordinating synchronously in policies, removing all difficulties and bottlenecks; creating new momentum, new confidence, motivation, new victories...

The Head of the Government requested ministries and branches to continue to operate monetary policy proactively, flexibly, promptly and effectively; coordinate synchronously, harmoniously and closely with a reasonable, focused and key expansionary fiscal policy; facilitate businesses and people to access credit capital, with reasonable interest rates; resolutely implement solutions to stabilize market prices to control inflation, increase supply, prepare abundant supply of goods, avoid shortages of goods and services for people; be public and transparent, do not increase prices of goods and services unreasonably but strive to lower prices, especially for gasoline, oil, essential goods, housing and food, tuition, textbooks, medical examination and treatment services, cement prices, etc.; assign Deputy Prime Minister Le Minh Khai - Head of the Steering Committee for Price Management to direct.

Ministries and sectors focus on renewing traditional growth drivers such as investment, export, and consumption and strongly promoting new growth drivers such as regional connectivity, digital economy, green economy, circular economy, innovation, and new industries and fields such as semiconductor chips and artificial intelligence.

In particular, further promoting the disbursement of public investment capital, 3 National Target Programs, with the continued promotion of the activities of 5 Working Groups of the Prime Minister and 26 Working Groups of Government members; early allocation of the remaining 29.1 trillion VND of public investment capital; promoting the disbursement of the 120 trillion VND credit package for the development of social housing and workers' housing. Along with that, promptly handling difficulties and obstacles, speeding up the progress of important and key national infrastructure projects and social infrastructures, and thoroughly resolving the problem of common landfill materials.

Requesting the early establishment of a Steering Committee to review and resolve difficulties, the Prime Minister requested to continue reviewing and perfecting institutions, especially regulations related to public investment, public-private partnership, tax laws, etc. on that basis to propose the issuance of a legal document to amend many laws; increase revenue, thoroughly save expenditure; focus on administrative reform, implement tax exemptions and reductions, fees, charges, reduce compliance costs, and input costs for businesses.

Directing specific tasks in a number of sectors and fields, the Prime Minister requested to ensure adequate electricity supply, with the completion of the 500kV Line 3, Quang Trach - Pho Noi before June 30, 2024, mobilizing and coordinating power sources to meet the needs of people and businesses, urgently submitting for promulgation 3 Decrees on: direct electricity trading mechanism, on self-produced and self-consumed rooftop solar power and on the mechanism for developing electricity projects using natural gas and LNG; exploiting, producing and supplying enough gasoline and gas; making the most of free trade agreements, promoting agricultural exports, and making efforts to soon remove the "IUU yellow card"; promoting tourism attraction; handling long-standing backlog issues, especially projects such as Bach Mai Hospital, Viet Duc Facility 2, guiding localities to remove projects with conclusions from the Inspectorate.

The Prime Minister also requested efforts to upgrade the stock market; focus on social security, improve people's lives; actively implement salary reform; do a good job in medical examination and treatment, ensure medical drugs; organize the national high school graduation exam well; strengthen national defense and security, stabilize politics; do a good job in foreign affairs; strengthen information and communication, "use beauty to eliminate ugliness".

Prime Minister Pham Minh Chinh believes that with the consensus, joint efforts, proactive, active and drastic participation of all levels, sectors and localities, the goal of ensuring macroeconomic stability, controlling inflation, and promoting economic growth in 2024 as set out in the Resolution and Conclusion of the Central Committee, the National Assembly and the Government will be achieved, contributing to the successful implementation of the Resolution of the 13th National Party Congress and the 5-year socio-economic development plan for 2021-2025.