(VOVWORLD) -Prime Minister Pham Minh Chinh on Saturday chaired a meeting of the Government with relevant ministries and sectors to review the situation and work out solutions to ensure macroeconomic stability, control inflation, and boost growth.
 Photo: VOV |
Prime Minister Chinh acknowledged bright spots of Vietnam's economy and warned of external uncertainties. He stressed the need to remove obstacles facing businesses, boost production and industries, soon adopt the policy of building a green economic sector system, urgently complete legal regulations on green transformation, and mechanism for circular economic development.
PM Chinh called for greater efforts to strongly promote new growth drivers, such as regional connectivity, digital economy, green economy, circular economy, innovation, semiconductor chip, and artificial intelligence.
 Photo: VOV |
The Prime Minister emphasized the need to proactively regulate the supply of goods at the end of the year and holidays to cool down price hike psychology, adjust prices of State-managed goods on a monthly basis, and prepare appropriate adjustment plans.
He requested a focus on perfecting legal regulations and accelerating the implementation of projects. The 500kV circuit 3 transmission line project from Quang Trach to Pho Noi must be completed before June 30, said PM Chinh.
The Prime Minister also requested continued strict management and sustainable development of financial, currency, stock and corporate bond markets, "warm up" the real estate market, and develop social housing. Exchange rates must be in sync with interest rate management, he said, calling for maintaining or cutting lending interest rates, handling bad debts, improving the capacity of the banking system, and upgrading the stock market.
Concluding the meeting, Prime Minister Chinh said that given the current domestic and international situation, challenges outweigh opportunities. But Vietnam is determined to achieve its socio-economic development goals this year, he added.
"We pursue two major goals of controlling inflation at 4-4.5% and boosting growth from 6-6.5%, strive for upper-limit growth, lower-limit inflation, and macroeconomic stability, and ensure major balances of the economy. Monetary policy and fiscal policy must coordinate closely and effectively with each other."
The Prime Minister emphasized that over the past five months, Vietnam's macro economy has been stable, inflation has basically been controlled, and major balances ensured. Public debt, government debt, and foreign debt have been within the allowed threshold. Many world institutions are upbeat about Vietnam's projected GDP growth of over 6% in 2024, he said.