Prime Minister Pham Minh Chinh: Creating momentum for breakthrough development in 2024

On March 2, at the Government Headquarters, under the chairmanship of Prime Minister Pham Minh Chinh, the Government held a regular meeting in February 2024 to assess the socio-economic situation in February and the first two months of 2024; the allocation and disbursement of public investment capital; and the implementation of the three national target programs.

Attending the meeting were Deputy Prime Ministers; Ministers; Heads of ministerial-level agencies and Government agencies; representatives of leaders of a number of Central Party Committees, Commissions, and agencies and the National Assembly; and leaders of a number of economic groups.

Win without pride, lose without discouragement

The Government assessed that after 2 months, in the context of the complicated world situation, the whole country had gone through the 2024 Lunar New Year holiday and urgently got back to work from the first working day, creating a new atmosphere and new motivation.

Thanks to that, the socio-economic situation in February and the first two months of 2024 continued the recovery trend and achieved positive results, better than the same period in 2023 in all fields.

The macro economy is basically stable, inflation is controlled, growth is promoted, and major economic balances are ensured.

The consumer price index (CPI) in February increased by 3.98% over the same period. State budget revenue was equal to 23.5% of the yearly estimate, up 10.4%. Import and export turnover in the first two months increased by 18.6%, of which the trade surplus was 4.72 billion USD. Disbursement of public investment reached 9.13% of the yearly plan, 2.16% higher than the same period.

The index of industrial production (IIP) in the first two months increased by 5.7% over the same period. Tourism recovered quickly, with international arrivals to our country in the first two months reaching more than 3 million, up 68.7% over the same period.

Total registered foreign direct investment (FDI) in the first two months of 2024 reached nearly 4.3 billion USD, up 38.6% over the same period.

Cultural and social fields are focused on; social security is guaranteed. People's lives are improved. People across the country, everyone, every household happily celebrates Tet, leaving no one without Tet, of which 17,700 tons of reserve rice were exported to 693,000 people during Tet and the lean season; Tet gifts for people with meritorious services worth about 2,745 billion VND; the whole country supported and gave Tet gifts to 13,9 million people with a total budget of 7,800 billion VND.

Socio-political stability, national defense and security are maintained, social order and safety are ensured. Administrative reform, anti-corruption and anti-negativity are promoted. Foreign affairs and international integration are promoted; Vietnam's prestige and position are increasingly enhanced.

Government members and delegates discussed in detail, analyzed the situation, and proposed tasks and solutions for socio-economic development in March and the coming time. In particular, they focused on assessing the leadership, direction, and implementation; ensuring the macro-economy and major balances; controlling inflation and promoting growth; social security; promoting digital transformation, developing green economy, circular economy, knowledge economy, and sharing economy; continuing to renew old driving forces, prioritizing growth drivers such as consumption, investment, and export; attracting foreign direct investment (FDI); and removing difficulties and obstacles in a number of areas such as bidding for drugs and medical supplies.

At the same time, continue to make strategic breakthroughs in human resource training, including human resources in the technology sector; promote the arrangement of administrative units at district and commune levels; develop cultural industries; appraise textbooks, and organize quality assurance exams.

Concluding the meeting, Prime Minister Pham Minh Chinh highly appreciated the ministries, branches and agencies for carefully preparing the report's contents; acknowledged and agreed with the frank, responsible and practical opinions of the Government members and delegates attending the meeting to focus on resolutely and effectively implementing key tasks, creating momentum for breakthrough development in 2024.

Believing that the socio-economic situation in February 2024 continued to show a positive recovery trend, although the results achieved in some areas were not high due to the Tet holiday, the Prime Minister said that the Government has focused on directing and implementing the set goals and tasks resolutely.

Among them, the Prime Minister issued 7 directives and 4 telegrams; focused on urging the implementation of key tasks after the Tet holiday; promoted infrastructure projects; continued to promote the work of building and perfecting institutions, with the issuance of 18 normative documents and the issuance of plans to implement the Laws.

In particular, the Prime Minister approved the Action Plan of the Socio-Economic Subcommittee to prepare for the 14th National Party Congress.

The Prime Minister affirmed that in general, in the first two months of 2024, most sectors achieved better results than the same period in 2023, creating new momentum, motivation, spirit and inspiration for the entire political system, businesses and people to promote the completion of socio-economic development tasks in 2024 and the coming time.

“The above results were achieved thanks to the wise leadership and direction of the Party Central Committee, specifically, directly and regularly by the Politburo and the Secretariat, headed by General Secretary Nguyen Phu Trong; the efforts of the entire political system, including the drastic direction and management of the Government, ministries, branches and localities, especially the leaders; the smooth and effective coordination between the Government and agencies in the political system and localities; the participation of people and businesses and the cooperation and support of international friends,” the Prime Minister emphasized.

Analyzing and forecasting the situation in the coming time, in order to effectively implement the key tasks and solutions according to the Conclusions of the Central Committee, the Politburo, key leaders, the Resolutions of the National Assembly, the Government, especially of General Secretary Nguyen Phu Trong, the Prime Minister thoroughly grasps the viewpoint: Proactive, positive, innovative, creative, dare to think, dare to do, ensure effectiveness in direction, administration and management; closely monitor the situation, promptly have appropriate and effective policy responses; must not be subjective, negligent, lose vigilance with the motto "not arrogant in victory, not discouraged in defeat"; promote the spirit of self-awareness, proactiveness, and responsibility of cadres and civil servants, especially leaders; resolutely not back down in the face of difficulties, with the motto "if you are determined, you must be more determined; if you have made an effort, you must make even greater efforts; if you have acted decisively, you must act even more decisively, solve each problem thoroughly."

Determined not to let there be shortages of electricity, petrol, water

The Prime Minister requested to consistently implement the priority target of growth associated with macroeconomic stability, inflation control, ensuring major balances of the economy; promote the implementation of strategic breakthroughs, economic restructuring associated with growth model innovation, improving productivity, quality, efficiency, and competitiveness of the economy; pay attention to comprehensive and synchronous development of cultural, social, educational, and health sectors; well perform the tasks of land and resource management, environmental protection, natural disaster prevention and control, and climate change response; effectively implement the Party and State's foreign affairs activities; cut down and simplify administrative procedures; resolutely prevent and combat corruption and negativity; consolidate and strengthen national defense and security, maintain independence and sovereignty.

On the occasion of the 65th anniversary of the Border Guard's Traditional Day (March 3, 1959 - March 3, 2024), on behalf of the Government, the Prime Minister would like to send to the officers and soldiers of the Border Guard force nationwide in particular, and the heroic Vietnam People's Army in general, his warm regards, close affection and best wishes!

Regarding key tasks and solutions in the coming time, Prime Minister Pham Minh Chinh requested to proactively, flexibly, promptly and effectively manage monetary policy; coordinate synchronously, harmoniously and closely with a reasonable, focused and key expansionary fiscal policy and other policies; better circulation of money, ensuring adequate supply of credit capital to serve the economy; closely monitor the bad debt situation, ensure system safety; continue to have strong measures to reduce lending interest rates.

Ministries, branches and localities must strive to increase revenue and save State budget expenditure; focus on implementing the use of electronic invoices, especially in food and beverage businesses, services, and gasoline retail; cut unnecessary regular expenses and meetings; regular expenses of an investment nature; strengthen price and market management; ensure inflation control according to the set target, while promoting growth.

“Resolutely do not let there be a shortage of electricity, petrol, and water for production, business, and consumption; focus on implementing power transmission and generation projects,” the Prime Minister noted.

The Head of Government requested to continue to renew traditional growth drivers and promote growth drivers of investment, export and consumption.

Among them, creating favorable conditions to attract and disburse social investment; resolutely handling difficulties, actively supporting the acceleration of investment project implementation; strengthening the promotion and attraction of FDI projects; consolidating traditional markets, expanding new markets; effectively implementing Free Trade Agreements (FTAs); urging China to soon lift the ban on poultry imports from Vietnam; promoting promotions, discounts, implementing the campaign "Vietnamese people prioritize using Vietnamese goods"; having strong solutions to attract domestic and international tourists.

At the same time, strongly promote new growth drivers including perfecting institutions and laws to mobilize and effectively use all resources; strongly promote 6 socio-economic regions; take advantage of new opportunities from the shift in global and regional production, trade and investment supply chains; strongly promote digital transformation, green transformation, circular economy, new industries and fields such as semiconductor chips, artificial intelligence; attract green financial resources, preferential green credit to develop renewable energy, new energy, Hydrogen; build and develop regional and international financial centers in Vietnam.

At the same time, focus on strongly developing key industries and fields. Among them, strongly promote industrial production; focus on removing difficulties, promoting processing and manufacturing industries, supporting industries; speed up the progress of large-scale, high-tech projects with strong spillover effects; urgently overcome the "yellow card" (IUU); strongly develop service industries with potential, advantages, and high-tech applications; reduce transportation and logistics costs; promote tourism attraction, improve service quality, and promote tourism in key markets.

The Prime Minister also directed to accelerate the disbursement of public investment capital and 3 National Target Programs; speed up the approval of planning. Of which, strive to achieve a minimum disbursement rate of 95% for the whole year of 2024; early allocation of the remaining 33.5 trillion VND of the 2024 public investment plan.

More vigorously implement national target programs; promptly complete the establishment, appraisal, and approval of the remaining plans and 5 regional plans.

In particular, the Prime Minister requested to focus on perfecting mechanisms, policies, laws, reforming administrative procedures, removing difficulties for production and business; promptly promulgating documents detailing the Laws and Resolutions passed at the 6th Session and the 5th Extraordinary Session of the National Assembly; drastically cutting and simplifying administrative procedures and business conditions; and focusing on implementing Project 06.

Focus on removing difficulties, promoting manufacturing and processing industry, supporting industry; speed up the progress of large-scale, high-tech projects with strong spillover effects; make good use of opportunities for agricultural exports; promptly overcome the "yellow card"; strongly develop service industries with potential and advantages; promote tourism attraction, improve service quality, promote tourism in key markets; develop cultural industry.

“Ministries, branches, localities and units continue to handle outstanding and long-standing issues. In particular, complete the valuation and finalize the plan for compulsory transfer of weak banks in the first quarter of 2024; complete plans to handle weak and outstanding projects such as Vietnam-China Steel, Thai Nguyen Iron and Steel - Phase 2, Dung Quat Shipbuilding, Phuong Nam Pulp..., in which urgently complete the leadership personnel at units and projects according to Party regulations, "there is no mechanism for bidding in personnel work," the Prime Minister pointed out.

Prime Minister Pham Minh Chinh requested to continue focusing on the fields of culture, society, and environment; ensure social security and people's lives; strengthen national defense and security; step up the fight against corruption and negativity; carefully, substantially, and effectively implement foreign affairs activities of senior leaders; strengthen information and communication work to create social consensus; especially effectively implement the tasks of the Socio-Economic Subcommittee of the 14th National Party Congress.

The Prime Minister directed ministries, branches, units and localities to well organize activities to celebrate the 134th birthday of President Ho Chi Minh (May 19, 1890 - May 19, 2024); organize study, research and concretize through actions the content of the works of General Secretary Nguyen Phu Trong, especially the works published recently.