Prime Minister stresses 2024 growth, inflation targets
Prime Minister Pham Minh Chinh on June 8 called for greater efforts to keep the 2024 growth rate at the upper limit of the 6-6.5% target, and inflation at the lower of the 4-4,5% target, given the context that there are more challenges than opportunities.
Prime Minister chairs a meeting between permanent Cabinet members and representatives of ministries and agencies on inflation control on June 8. (Photo: VNA)
Hanoi (VNA) – Prime Minister Pham Minh Chinh on June 8 called for greater efforts to keep the 2024 growth rate at the upper limit of the 6-6.5% target, and inflation at the lower of the 4-4,5% target, given the context that there are more challenges than opportunities.
Chairing a meeting between permanent Cabinet members and representatives of ministries and agencies, the leader stressed the need to ensure macroeconomic stability and major economic balances, and control budget overspending as well as public, Government and foreign debts.
Flexible direction, innovation, “thinking big, acting bold” and policy harmony will work in the present context, he continued, asking ministries and agencies to follow these instructions.
The ministries and agencies were also urged to renew the traditional growth drivers of investment, export and consumption, while promoting new engines like regional connectivity, digital economy, green economy, circular economy, and innovation, along with emerging industries such as semiconductors and Artificial Intelligence (AI).
The PM spoke of other tasks like accelerating public investment disbursement, and the implementation of national target programmes, and the 120 trillion VND (4.72 billion USD) housing credit package, and speeding up key infrastructure projects.
A steering committee should be established soon to review and handle bottlenecks, he said, requesting the review and perfection of institutions, especially regulations relating to public investment, public-private partnership and tax, based on which a legal document should be issued to amend many laws.
Chinh asked the circuit-3 500kV transmission line linking Quang Trach in the central province of Quang Binh and Pho Noi in the northern province of Hung Yen to be completed before June 30, and called for efforts to soon have the European Commission (EC)'s “yellow card” warning against Vietnamese seafood removed.
♎ More attention should be paid to social welfare, national defence and security, external affairs and the communications work, he said. /.
Vietnam's economy has gone through one-third of the 2024 yearly plan and achieved some remarkable results, showing clear recovery momentum through the growth of important pillars.
In its April 2024 Asian Development Outlook (ADO) report, the Asian Development Bank (ADB) has maintained its earlier forecast for Vietnam’s economic growth this year, despite ongoing uncertainties from the external environment. Vietnam’s economy is expected to achieve a growth rate of 6.0% in 2024 and 6.2% in 2025.
General Secretary of the Communist Party of Vietnam Central Committee To Lam and his spouse Ngo Phuong Ly departed from Hanoi on August 10 morning for a four-day state visit to the Republic of Korea (RoK), which is made at an invitation of RoK President Lee Jae Myung.
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.
