Prime Minister Pham Minh Chinh: Strive to achieve a GDP growth rate of over 7% for the whole year

On the morning of October 7, Prime Minister Pham Minh Chinh chaired the regular September Government meeting online with 63 localities.

Summarizing the situation in the first 9 months of 2024, Prime Minister Pham Minh Chinh said that the socio-economic situation continues to have a trend of each month being better than the previous month, each quarter being better than the previous quarter. Overall, the first 9 months are better than the same period in 2023 in most areas.

The Prime Minister praised the efforts and attempts to overcome difficulties of a number of ministries, branches and localities, especially Hanoi and Ho Chi Minh City, which contributed over 51% of the total national budget revenue, of which Hanoi contributed nearly 26% and Ho Chi Minh City contributed over 25%.

The Head of Government also commended the efforts and sharing in overcoming the consequences of natural disasters of localities, especially Lao Cai, Quang Ninh, and Hai Phong, in the process of overcoming the consequences of storm No. 3.

"Local decision, local action, local responsibility"

In addition, the Prime Minister also noted that our country still has many shortcomings, limitations and difficulties, especially the recent storm No. 3 that caused great damage; the consequences of Covid-19 still remain; the pressure to direct and manage the macro economy is still high, and the disbursement rate of public investment capital is still lower than the same period.

Prime Minister Pham Minh Chinh pointed out that some ministries, branches and localities have not been proactive and positive, some legal problems have not been resolved, some officials and civil servants are avoiding, pushing away, and afraid of responsibility, and in some cases, they are still confused about grasping the situation, advising and responding to policies...

Noting that in the coming time, there will be opportunities, advantages, difficulties and challenges intertwined, but with more difficulties and challenges, the Prime Minister requested ministries, branches and localities to closely monitor the international and domestic situation to have appropriate policy responses and timely, flexible and effective solutions.

In particular, the Prime Minister emphasized the spirit: High determination - Full effort - Resolute action - Striving to comprehensively and successfully implement the goals and tasks of 2024, creating momentum for 2025.

The Head of Government requested strong decentralization and delegation of power as required by the 10th Central Conference with the viewpoint of "locality decides, locality acts, locality takes responsibility".

"There is no reason why we should not decentralize and delegate power; there is no reason why we should not eliminate the request-grant mechanism. There may be problems and conflicts during the implementation process, but we will continue to resolve them," Prime Minister Pham Minh Chinh stated.

There is a solution for SCB

Among the 12 key tasks and solutions in the coming time, the Prime Minister requested to first focus on preventing and overcoming the consequences of natural disasters, storms and floods, stabilizing people's lives, promoting production and business recovery; resolutely and effectively implementing key tasks and solutions to urgently overcome the consequences of storm No.

Along with that, continue to prioritize promoting growth associated with maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy; strive to achieve a GDP growth rate of over 7% for the whole year, and growth in the fourth quarter from 7.5-8%.

The Head of Government also noted that monetary policy should be operated proactively, flexibly, promptly and effectively; not "jerky" operation. The State Bank should maintain exchange rate stability, strive to reduce lending interest rates, increase access to credit capital, focus on priority sectors, strive to increase credit for the whole year by about 15%; and control bad debt risks.

The Ministry of Finance is required to strive to increase revenue, save state budget expenditures, drastically implement digital transformation, apply electronic invoices in revenue management, strive to increase revenue for the whole year by at least 10% above the estimate; urgently study and propose the issuance of an additional 100 trillion VND in investment bonds for national strategic infrastructure projects.

In addition, continue to thoroughly handle issues, backlog projects, weak banks, solutions for SCB Bank, investment projects to build facilities 2 of Bach Mai and Viet Duc Hospitals. At the same time, promptly remove difficulties and obstacles for projects and land in inspection, examination and judgment conclusions.

Prime Minister Pham Minh Chinh also requested ministers, heads of sectors, secretaries, and chairmen of provinces and centrally-run cities to pay special attention to focusing on leading and directing the good implementation of five groups of important and urgent tasks and solutions.

In particular, the Prime Minister noted that priority should be given to growth, promoting traditional growth drivers and boosting new growth drivers; not to let shortages of food, foodstuff, electricity, gasoline, water, medicine, medical supplies, and input materials for production, business and people's lives be prevented.

Ministries and branches coordinate with the National Assembly Standing Committee and National Assembly committees to carefully prepare laws and resolutions to submit to the National Assembly in the direction of increasing decentralization, reducing administrative procedures, both managing and creating development, and mobilizing all development resources.

The Prime Minister also requested the completion of housing support for households affected by natural disasters, the implementation of a VND140 trillion credit package to develop social housing, and the response to the emulation movement to eliminate temporary and dilapidated houses nationwide.

Besides, it is necessary to promote production and business, promote public investment disbursement, create jobs, livelihoods, and improve people's spiritual and material life.