Increase economic cooperation, contribute to promoting growth

On the afternoon of March 8, Prime Minister Pham Minh Chinh chaired a Government meeting to assess the regional and world economic situation, remove difficulties and obstacles, and propose tasks and solutions to promote economic growth of 8% in 2025 and double digits in the following years.

Attending the meeting were comrades: Deputy Secretary of the Government Party Committee, Deputy Prime Minister; Ministers, Heads of ministerial-level agencies, and agencies under the Government.

Government members assessed that in the past and present, the world situation has changed in a complex and unpredictable manner; strategic competition continues; risks in the world financial, monetary, and real estate markets continue to increase.

Some countries have changed their economic and tariff policies, which have had a major impact on the economy, especially global imports and exports, including Vietnam. Meanwhile, Vietnam is a developing country with a transitional economy, modest economic scale, low starting point, high openness but limited resilience.

Implementing the Central Committee's Conclusion and the Resolution approved by the National Assembly, the Government has issued a Resolution assigning growth targets to sectors, fields and localities to ensure the national growth target in 2025 reaches 8% or more.

The Government held conferences to deploy tasks and solutions to promote economic growth, in which the Prime Minister held 10 working sessions with domestic and foreign enterprises to listen, remove obstacles, and promote growth.

Government members believe that achieving the growth target of 8% in 2025 and double digits in the following years is a very heavy task. Therefore, it is necessary to continue to remove institutional and legal obstacles; unblock and mobilize all resources for development; remove difficulties and obstacles for the real estate and corporate bond markets, promote the credit market; make the most of signed free trade agreements; and continue to promote market expansion.

Concluding the meeting, the Prime Minister said that the Central Committee had issued a Conclusion, the National Assembly had passed a Resolution on the GDP growth target of 8% or more in 2025; creating momentum for double-digit growth in the next period.

This is a very heavy task, but also very important and glorious in order to achieve the two 100-year strategic goals. This requires the synchronous, drastic and effective participation of the entire political system, the business community and the people of the whole country.

“Promoting 8% growth in 2025 and double digits in the coming years is a very difficult and challenging task, but it is an order from the heart, mind, and responsibility to the nation, people and people,” the Prime Minister emphasized.

Noting that priority must be given to promoting growth, but macroeconomic stability must be maintained, inflation must be controlled, major balances of the economy must be ensured, progress, social justice, social security, environment and other tasks must be ensured, the Prime Minister directed ministries, branches and localities to coordinate closely, synchronously, comprehensively and effectively implement the tasks and solutions set out in all fields, successfully complete the growth targets and targets of the assigned sectors and fields, and strive for higher.

During the implementation process, if there are any problems or difficulties, propose specific mechanisms, policies, tasks and solutions in case of exceeding authority in a timely manner.

The Prime Minister requested synchronous, drastic and effective implementation of the Conclusions and Resolutions of the Central Committee, Politburo, National Assembly and Government related to socio-economic development, especially on promoting economic growth.

The Prime Minister directed to focus on three strategic breakthroughs including perfecting institutions, infrastructure and training high-quality human resources, in the direction of "open institutions, smooth infrastructure, smart governance and human resources", and to renew traditional growth drivers such as investment, export and consumption; at the same time, promote new growth drivers.

Stakeholders promote public investment disbursement, implement key national projects and works, build financial centers, free trade zones, railway connection projects, high-speed railways, nuclear power plants, etc.

In particular, units and localities must promote new growth drivers, especially creating breakthroughs in science and technology development, innovation, national digital transformation, creating substantial changes in transforming the growth model towards greening, developing knowledge-based economy, circular economy, sharing economy, new industries and fields such as semiconductor chips, artificial intelligence, and the Internet of Things.

The Prime Minister said that economic cooperation with foreign countries plays an important role, contributing to promoting economic growth of 8% in 2025 and double digits in the following years.

Therefore, the Prime Minister paid special attention to carrying out tasks and solutions to promote economic, trade and investment cooperation with other countries, focusing on further promoting trade and investment cooperation with partners, especially major partners such as China, the United States, Europe, Japan, South Korea, etc.

Along with that, it is necessary to enhance the competitiveness, transparency, attractiveness, and resilience of the economy and enhance the self-reliance, proactive, deep, and effective integration of the economy. There must be proactive solutions to balance trade and promote the signing of investment protection agreements with partners.

The Prime Minister requested to continue to closely monitor and grasp developments in the situation, respond and respond promptly, appropriately, flexibly, feasibly and effectively to each market, especially in the context of changes in economic and tariff policies of countries.

Emphasizing the need to mobilize the nation's strength and resources, combined with the strength of the times, and gain support both domestically and internationally, the Prime Minister directed the promotion of political, diplomatic, and economic relations to strengthen economic-trade-investment cooperation, thereby contributing to promoting growth.

According to the Prime Minister, it is necessary to be persistent, proactive, flexible, active, and promote cooperation through measures, forms, and methods of cooperation in all fields, in the spirit of "harmonious benefits, shared risks"; prioritize the timely, satisfactory, and effective handling of issues of concern to partners, demonstrating Vietnam's goodwill, based on good cooperation, understanding, sincerity, and mutual respect; during the implementation process, pay attention to protecting the legitimate and legal rights and interests of all parties, on the basis of fair trade.

The Head of Government requested to develop a plan to balance trade with major partners, pay attention to exploiting and supplementing shortages, and support each other; make the most of signed FTAs ​​and promote the signing of new FTAs ​​to diversify markets and supply chains; review taxes, especially those of major partners, to adjust if necessary and in line with the interests of all parties; review and propose to promote cooperation in all fields, especially in the fields of high technology, innovation, digital transformation, especially emerging industries.

Ministries, sectors, especially localities, proactively resolve problems with foreign partners, especially major trade partners; create conditions for foreign enterprises to expand investment and business to expand supply chains in Vietnam, helping Vietnam participate deeply in the supply chains of foreign enterprises; and resolve and end issues related to work permits and visas.

Relevant parties listen, seek advice, and effectively resolve legitimate suggestions and proposals from businesses and partners; be transparent and public in economic, trade, and investment activities, especially in combating trade fraud; promote communication and reflect Vietnam's efforts in promoting economic cooperation, especially with traditional and major partners.

The Prime Minister assigned specific tasks to each ministry and sector; he believes that with the joint efforts and consensus of the entire Party, the entire political system, the people, businesses and international friends, Vietnam will achieve the set growth target, contributing to "creating momentum, creating momentum" for the country to enter a new era - an era of striving for strong, prosperous development of the nation.