PM asks for more efforts to stablise macroeconomy, control inflation
Prime Minister Pham Minh Chinh has emphasised the need to strengthen the capacity for analysis, forecasting as a tool to help control inflation, stablise macro-economy, and ensure major balances of the economy, contributing to accelerating economic recovery and sustainable development.
Hanoi (VNA) - Prime Minister Pham Minh Chinh has emphasised the need to strengthen the capacity for analysis, forecasting as a tool to help control inflation, stablise macro-economy, and ensure major balances of the economy, contributing to accelerating economic recovery and sustainable development.
Chairing a July 30 meeting with leaders of ministries, sectors, central agencies, experts, scientists and experts from international organisations in Vietnam on measures to maintain macroeconomic stability, and control inflation, the PM stressed that attention must be paid to implementing monetary policy prudently, flexibly, and effectively in a timely manner in close coordination with fiscal policy and other policies.
Policy tools need to be adjusted appropriately to both promote socio-economic recovery and development, and contribute to controlling inflation, stabilising the macro-economy, ensuring national financial safety. Focal issues in the coming time are accelerating public investment, ensuring social security market and price control, human resources development and strategic infrastructure, he pointed out.
The PM also emphasised that more attention should be paid to fighting corruption and negative phenomena; and strengthening objective, transparent, honest and timely communication activities regarding the issue.
He assigned the Ministry of Planning and Investment to expeditiously collect comments and complete relevant reports and documents to submit to the Government and authorised agencies.
According to reports at the event, despite facing many difficulties and challenges, Vietnam basically maintained a reasonable economic growth with GDP in the first half of this year being estimated to increase by 6.42% year-on-year, much higher than the expected scenario. The country’s macroeconomic was stablised, inflation well controlled and major economic balances ensured.
൩ Economists agreed with the Government's view in general and in implementing of the economic recovery and development programme in particular, which prioritises using fiscal policy to support monetary policy.
Ha Thi Kim Nga, senior economist at the International Monetary Fund in Vietnam, said Vietnam has well implemented inflation control. However, it still needs to stay prudent against inflation risks because of complicated developments in the world market./.
Standard Chartered has forecast Vietnam’s GDP growth at 10.8% in the third quarter and 3.9% in the last quarter of 2022, contributing to annual expansion of 6.7%.
Prime Minister Pham Minh Chinh chaired a meeting attended by ministries and sectors on July 28 to discuss short- and long-term measures for keeping inflation under control, stabilising the macro-economy, and promoting socio-economic recovery and development.
Deputy Prime Minister Le Minh Khai has ordered the acceleration of the disbursement of financial packages serving the socio-economic recovery programme, particularly rent subsidy for workers as well as support in terms of interest rate for firms and cooperatives.
UN Assistant Secretary General and UNDP Regional Director for Asia and the Pacific Kanni Wignaraja has expressed her impression on Vietnam’s strong commitments to climate change response, including energy transition.
Prime Minister Pham Minh Chinh chaired a dialogue with the Republic of Korea (RoK)’s Ambassador Park Noh-wan and representatives of Korean associations and businesses in Vietnam in Hanoi on July 30.
As part of the ASEAN Day celebrations, the Vietnamese embassy will also host the ASEAN Family Day 2025 in Ottawa to foster solidarity and community spirit among ASEAN members in Canada.
State President Luong Cuong’s trip once again reaffirmed the Party and State’s foreign policy of independence, self-reliance, diversification and multilateralisation of relations. It also reflected the strong trend of enhanced cooperation among countries of the Global South in shaping a new, more multipolar, fair and equitable world order.
The outcomes of Party General Secretary To Lam's visit will serve as a driving force and source of inspiration for the two countries to inherit, promote, and elevate their Comprehensive Strategic Partnership, contributing to the national construction and development cause in each country, and to peace, cooperation, and development in the region and the world.
Prime Minister Pham Minh Chinh on August 9 inspected the construction site of the new Phong Chau bridge, and surveyed a planned route for the Lao Cai – Hanoi – Hai Phong railway section running through the northern province of Phu Tho.
Across print, broadcast, and online platforms, Angolan media portrayed State President Luong Cuong's visit as a warm and historic occasion, strengthening bilateral ties and boosting Vietnam’s presence in Africa through the AU.
The 500kV Lao Cai – Vinh Yen power transmission line has a total investment of over 7.41 trillion VND (282.5 million USD), and a total length of 229.5 km, passing through 31 communes in the two provinces, and comprising 468 transmission tower foundations.
The visits reflected the elevated position of Vietnam’s foreign policy in the new era—aimed at not only advancing ties with key regional partners like Egypt and Angola but also delivering a strategic message about Vietnam’s commitment to deepening relations with African nations as a whole.
At their talks and meetings, President Cuong and Angola’s top leaders affirmed that the close brotherhood and traditional friendship are a valuable shared asset and a solid foundation for the two nations to advance into a new phase of development.
The ruling People’s Movement for the Liberation of Angola (MPLA) attaches great importance to the friendship, solidarity, and comradeship with the Communist Party of Vietnam, and voiced her Party’s wish to further deepen and expand relations between the two sides for the benefit of the Vietnamese and Angolan people.
Vietnam pledges to do its utmost to build an ASEAN of solidarity, consensus, and unity in diversity, and to foster a fast and sustainable development path for ASEAN, grounded in science, technology, and innovation, said Prime Minister Pham Minh Chinh.
Party General Secretary To Lam called on the criminal police force to accelerate the application of science, technology, artificial intelligence, and digital transformation in criminal investigation tasks such as crime prevention, detection, tracking and verification, ensuring that no area remains out of their reach.
Many Koreans living, studying, and working in Hanoi see the upcoming state visit to the Republic of Korea (RoK) by Party General Secretary To Lam as an opportunity to generate strong synergy in economic cooperation, people-to-people exchanges, and cultural understanding.
The achievements of the five decades of Vietnam–Angola cooperation provide a strong and enduring foundation, as well as momentum for the two sides to consolidate, expand, and bring their partnership into a new phase of development.
Prime Minister Pham Minh Chinh stressed that the emulation and commendation work is a vital driver, fostering patriotism, dedication, and collective momentum in the run-up to the 11th National Patriotic Emulation Congress, Party congresses at all levels, and the 14th National Party Congress.
Emphasising the need for sustainable, long-term collaboration, National Assembly Chairman Tran Thanh Man called on Japanese investors not only to bring in capital but also to share expertise and modern technology, especially in areas such as green transformation, the circular economy, and advanced corporate governance.
President Luong Cuong's activities during his state visit to Angola, the celebration of the financial sector's 80th traditional day, and the Foreign Ministry's flag-hoisting ceremony marking the 58th founding anniversary of ASEAN are among news highlights on August 8.
Vietnamese Ambassador to Thailand Pham Viet Hung praised the Thai Ministry of Foreign Affairs’ meaningful initiative, noting that the ASEAN Family Run was not only a sporting activity but also an opportunity for diplomats and their families to show unity, connection, and solidarity within the ASEAN family.
Politburo member, Prime Minister Pham Minh Chinh on August 8 attended the first congress of the Party Organisation of Tay Ho ward of Hanoi for the 2025–2030 term, during which he called for fresh momentum to turn the ward into a model that takes the lead in all fields.
The size of the economy increased from over 5 billion USD in 1986 to over 476 billion USD by 2024, making Vietnam the fourth-largest economy in Southeast Asia and the 34th largest in the world.
The ASEAN flag-hoisting ceremony is observed by the 10 ASEAN member countries on August 8 every year, aiming to spread and promote the ASEAN identity and affirm the determination to unite and cooperate for the common aspiration of long-term peace and prosperity of Southeast Asian countries under the common roof of the ASEAN Community.
The view of the meeting (Photo: VNA) 
