Striving for GDP growth in the fourth quarter to reach about 7.5%

On the morning of November 9, Prime Minister Pham Minh Chinh chaired the regular October Government meeting, discussing many important contents.

Attending the meeting were members of the Politburo, members of the Party Central Committee, Deputy Prime Ministers, members of the Government, leaders of ministries, branches and central agencies.

According to the program, the meeting focused on discussing and evaluating the socio-economic situation in October and the first 10 months of the year, orientations, tasks and solutions in November and from now until the end of the year.

In his opening speech, Prime Minister Pham Minh Chinh highlighted six emerging points in the context of the international situation in October and the first 10 months: Fierce strategic competition, escalating conflicts in Ukraine, the Middle East and many other places; prices of gold, gasoline, basic goods, international freight rates fluctuated strongly; global economic growth, trade, and investment recovered slowly and were not yet stable; natural disasters, climate change, and complicated developments; science and technology, digital transformation, and green transformation are trends and great opportunities but also pose many difficulties and challenges, especially for developing countries.

Also in October, the Government focused on directing ministries, branches and localities to carry out 6 major tasks: Implementing the conclusions of the 10th Central Conference of the 13th tenure; responding to and overcoming the consequences of storms, floods and natural disasters, especially storm No. 3; preparing for the 8th Session of the 15th National Assembly with a record number of more than 80 documents; focusing on handling weak and long-standing backlog projects (basically handling 12 loss-making and weak projects and resolving problems with 2 hospital projects, a number of power projects, etc.); controlling inflation, stabilizing the macro-economy, promoting growth, ensuring major balances of the economy; reviewing the implementation of the 2024 and 5-year targets and performing the task of the Socio-Economic Subcommittee on drafting documents to submit to the 14th National Party Congress.

Assessing the socio-economic situation, which continues to be better month after month, better quarter after quarter, better year this year than last year, the Prime Minister asked delegates to focus on discussing, clarifying the results achieved, limitations, difficulties, challenges, analyzing the causes and lessons learned in direction and management; forecasting and assessing the situation in the coming time, including forecasting the impact of the election results in the United States; proposing mechanisms, policies, and solutions in the coming time.

Requiring to always be proactive, positive, respond promptly to policies, and have operational scenarios for all situations, the Prime Minister emphasized the tasks and solutions to complete all goals of 2024, especially the GDP growth target. If the fourth quarter reaches about 7.5%, the whole year will reach more than 7%, nearly double the average of ASEAN and the world; breakthrough mechanisms, policies, and solutions to promote science and technology, innovation, renew old growth drivers, and promote new growth drivers.

The Prime Minister stated that GDP growth is a very important indicator, helping to increase labor productivity.

The Prime Minister also requested a review of the work serving the 8th Session of the 15th National Assembly, including the preparation of documents to submit the investment policy for the North-South High-Speed ​​Railway Project; the organization of upcoming major national holidays, especially the 80th anniversary of the founding of the Vietnam People's Army at the end of 2024 and major holidays in 2025.