'Accelerate and break through' to achieve socio-economic development goals for 2025 and the entire term.
On the morning of January 8th, at the Government Headquarters, General Secretary To Lam attended and chaired the nationwide online conference summarizing the work of the Government and local authorities in 2024 and implementing the tasks for 2025, organized by the Government.
Attending the meeting at the main venue, the Government Headquarters, were President Luong Cuong; Prime Minister Pham Minh Chinh; National Assembly Chairman Tran Thanh Man; Standing Member of the Party Central Committee and Chairman of the Central Inspection Committee Tran Cam Tu; members of the Politburo and Secretaries of the Party Central Committee; leaders of the Party, State, and Vietnam Fatherland Front, along with leaders of ministries, branches, and central agencies.
Also present at the Government's meeting point were the Secretaries of the Provincial and City Party Committees, the Chairmen of the People's Committees of provinces and centrally-administered cities; leaders of several corporations, general companies, the State Bank of Vietnam, and a number of business associations.
Leaders of Nghe An province, including comrades Nguyen Duc Trung - Secretary of the Provincial Party Committee; and Le Hong Vinh - Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, attended the conference at the Government's meeting point.
Direction and management should be correct, decisive, scientific, and flexible.
This conference is of paramount importance, focusing on assessing the situation and achievements in various fields during 2024.
Under the leadership of the Party, headed by the General Secretary, and with the decisive involvement of the entire political system, the business community, and the people nationwide, the socio-economic situation continues its positive recovery trend, with each month better than the previous one, and each quarter growing faster than the previous one. It is projected that all 15/15 key targets will be met or exceeded.
The economy has demonstrated a clear recovery, a bright spot in growth, and is among the high-growth countries in the world; economic growth has exceeded the set target; macroeconomic fundamentals are stable, inflation is controlled, major balances are ensured, the state budget deficit is controlled, and public debt and government debt are much lower than the permitted targets.
GDP in 2024 is estimated to grow by 7.09% year-on-year, only slightly lower than the growth rates of 2018, 2019, and 2022 during the 2011-2024 period. Inflation is under control amidst significant global volatility and challenges. On average in 2024, core inflation is projected to increase by 2.71%, lower than the overall CPI increase.
Exports and imports were a highlight of 2024. For the whole year, the total value of goods exports and imports reached US$786.29 billion, an increase of 15.4% compared to the previous year, with exports increasing by 14.3% and imports increasing by 16.7%.
Total state budget revenue in 2024 is estimated at VND 2,037.5 trillion, an increase of 19.8% (VND 336.5 trillion) compared to the projected figure, an increase of VND 164.2 trillion compared to the figure reported to the National Assembly at the 8th session (October, November 2024), and an increase of 16.2% compared to the actual revenue in 2023.
Attracting FDI has yielded many positive results. The total registered foreign direct investment (FDI), including new investments, adjustments, and equity investments, in 2024 was approximately US$38.23 billion, a decrease of 3% compared to 2023. Infrastructure development has been strongly promoted, with clear breakthroughs, especially in transportation and electricity infrastructure.
The work of improving institutions and laws has been given attention and implemented decisively, with a spirit of reform and strong determination, spreading from the central government to localities, and innovating in methods, implementation, effectiveness, and efficiency; accelerating the reduction and simplification of administrative procedures and business regulations.
Social security, social protection, and social assistance are implemented fully, promptly, and correctly, in a transparent and open manner. The streamlined and efficient administrative apparatus continues to be improved and strengthened. National defense and security are consolidated. International integration and defense diplomacy are conducted actively, proactively, flexibly, substantively, and effectively.
From the practical experience of leadership and management over the past period, we have drawn five valuable lessons. Among them, the most important are the lessons on unity within the Party, unity among the people, national unity, and international solidarity; and the lesson on thoroughly understanding the situation and responding with proactive, timely, flexible, and effective policies.
Striving for a growth rate higher than 8%
The year 2025 is of immense importance and a year of significant national events. The task ahead is extremely challenging: We must "accelerate and break through" to achieve the socio-economic development goals for 2025 and the entire 2021-2025 term, creating the foundation for implementing the socio-economic development plan for the 2026-2030 period.
The theme for 2025 is"Discipline and accountability; proactive and timely action; streamlined and efficient; accelerated breakthroughs."
The Government and the Prime Minister are focusing on directing the synchronized implementation of resolutions and conclusions of the Party and the National Assembly, concentrating on 3 strategic breakthroughs, 6 key tasks, 12 main groups of solutions, and 185 specific tasks.
Specifically, the overall objectives are: To continue prioritizing growth, maintaining macroeconomic stability, controlling inflation, and ensuring major economic balances; improving institutions and laws; developing infrastructure; enhancing the quality of human resources; developing science and technology, innovation; digital transformation, green transformation, and the circular economy; developing culture, ensuring social security, and improving people's lives; combating corruption, negative practices, and waste; consolidating and strengthening national defense and security, firmly protecting independence and sovereignty; maintaining political security, social order, and safety; promoting foreign relations and international integration; and enhancing Vietnam's prestige and position in the international arena.
Key targets include: striving for a growth rate higher than 8%; an average increase in the Consumer Price Index (CPI) of approximately 4.5%; a reduction in the poverty rate according to the multidimensional poverty standard of approximately 0.8-1%; and 71 other targets.
Key tasks and breakthrough solutions for 2025: perfecting institutions is the "breakthrough of breakthroughs"; streamlining the apparatus and improving effectiveness and efficiency; successfully organizing Party congresses at all levels, leading up to the 14th National Congress of the Party.
The priority is to promote growth while maintaining macroeconomic stability, controlling inflation, and ensuring the major balances of the economy.
Maximize the mobilization of social resources, effectively utilize resources from state-owned enterprises, and strongly develop private enterprises. Accelerate the development of strategic infrastructure, especially key national projects.
Strengthening Party building, combating corruption, negative practices, and waste. Developing culture, ensuring social security, proactively preventing and mitigating natural disasters, and responding to climate change.
Ensuring political stability, firmly protecting independence, sovereignty, and territorial integrity; promoting foreign relations and international integration. Proactively disseminating information and propaganda to create momentum and social consensus.
