Consolidating macro-economic stability the leading task this year: PM

Prime Minister Nguyen Xuan Phuc has asked ministries, sectors and localities to continue consolidating macro-economic stability and promoting growth, calling this the most important task for 2019.
  • Vietnam’s Macroeconomic Policies-Third Quarter 2018 under scrutiny
  • Macro economy remains stable in six months
Prime Minister Nguyen Xuan Phuc (centre) chairs the Government's meeting on January 31 (Photo: VNA)

Prime Minister Nguyen Xuan Phuc (centre) chairs the Government's meeting on January 31 (Photo: VNA)

He made the request at the Government’s monthly meeting in Hanoi on January 31.

Assessing the socio-economic situation in January, he said the positive trend has been sustained, which is a great opportunity that sectors and localities must stay ready to grasp.

The PM asked ministers and heads of sectors to pay special attention to realising the targets of their fields, adding that they need to have regular revisions of their performance and work out suitable and timely responses to domestic and international developments.

Giving detailed directions to each sector, he told the State Bank of Vietnam to keep steering the monetary policy, exchange rates and interest rates in a flexible manner and in harmony with the fiscal and other macro policies. Its moves must be consistent with the inflation control, macro-economic stabilisation and growth promotion targets, the PM stressed.

Credit provision should be focused on prioritised fields that are working as growth engines so as to curb loan sharking. Meanwhile, the Ministry of Finance needs to further tighten financial discipline in the use of the State budget and enhance the budget use inspections.

The Ministry of Industry and Trade has to take concerted and effective measures to bolster export and control import, PM Phuc said, noting that he had assigned this ministry to build a plan on responses to trade disputes.

At the meeting, the Ministry of Agriculture and Rural Development was asked to soon announce the completion of new-style rural area building in some provinces. Meanwhile, the Ministry of Information and Communications was also told to augment efforts to ensure cyber security and strictly deal with actions that take advantage of the freedom of speech and the press to violate interests of the State, organisations and citizens.

As for the coming lunar New Year festival (Tet), the most important to Vietnamese, the Government leader stressed that the top task of the ministries and localities is to ensure a safe, joyful but thrifty Tet for every people. “Efforts must be made to ensure that not even a single people is left without Tet”, he ordered.

VNA

Other News

Major works at Long Thanh International Airport gather pace towards completion

Major works at Long Thanh International Airport gather pace towards completion

The ACV said on July 20 that contractors are deploying additional workers and equipment to speed up construction under Component Project 3, which covers the airport's essential aviation infrastructure. Major facilities, including the first and second runways, taxiways, aircraft aprons, the passenger terminal apron and the aircraft fuel supply system, are approaching completion.

GDP expands 8.18%, with new growth drivers taking shape

GDP expands 8.18%, with new growth drivers taking shape

According to the National Statistics Office under the Ministry of Finance, GDP expanded by 8.39% in the second quarter, up from 8.14% a year earlier. Growth for the first six months reached 8.18%, exceeding the 7.63% recorded in the same period of 2025. The performance reflected broad-based contributions from both the supply and demand sides of the economy.

Vietnamese economy sustains momentum on strong industrial production

Vietnamese economy sustains momentum on strong industrial production

The National Statistics Office (NSO) under the Ministry of Finance reported that the manufacturing and processing sector remained the principal driver of economic growth, accounting for 33.07% of the economy's total value-added growth during the first six months of the year.

Government urges vigilance as inflation pressures mount in H2

Government urges vigilance as inflation pressures mount in H2

The Government's inflation target remains within reach despite mounting headwinds. Several forecasts suggest inflation can stay below 4.5% this year if international oil prices continue to retreat. Extending domestic fuel tax incentives through year-end, along with stable electricity prices, healthcare fees and exchange rates, would offer additional relief.

Plan issued to develop agricultural logistics system

Plan issued to develop agricultural logistics system

A key target is that by 2030, all concentrated agricultural, forestry and fisheries production areas will have access to essential services, including product traceability, quarantine, testing, quality certification, processing and market development. The move reflects growing international demand for stricter food safety, quality and traceability standards, which have become increasingly important for agricultural exports.

Vietnam seeks stronger export growth in H2

Vietnam seeks stronger export growth in H2

Despite the encouraging performance, Vietnam's exports remain heavily dependent on a limited number of major markets and product groups, while the domestic value added of many export products remains relatively low because of their reliance on imported raw materials and components.

RoK picks Vietnam as K-Food logistics hub for ASEAN expansion

RoK picks Vietnam as K-Food logistics hub for ASEAN expansion

Demand for Korean food in Vietnam has continued to grow rapidly alongside the popularity of the Korean Wave, or Hallyu, making the country a strategic market in the RoK's plan to expand agricultural and food exports to ASEAN, the RoK's Ministry of Agriculture, Food and Rural Affairs said.

Nearly 68,000 smuggling, trade fraud, counterfeit cases uncovered in H1

Nearly 68,000 smuggling, trade fraud, counterfeit cases uncovered in H1

Authorities detected and handled 67,937 violations in the first half of the year, up 36.66% year-on-year. Budget revenue from enforcement reached nearly 9.65 trillion VND (nearly 367 million USD), an increase of 49.36%, while investigation was launched into 1,676 criminal cases involving 2,789 suspects.

Vietnam joins global push for energy efficiency

Vietnam joins global push for energy efficiency

Participation in the Montreal Declaration also provides a foundation for Vietnam to explore deeper engagement with the IEA's multilateral energy efficiency initiatives, offering opportunities to access data, policy experience, technical tools and public-private partnership models in energy conservation.

Vietnam's Q2 GDP rises 8.39% amid broad-based economic growth

Vietnam's Q2 GDP rises 8.39% amid broad-based economic growth

Releasing the country's socio-economic data for the second quarter and the first half of the year on July 3, NSO Director Nguyen Thi Huong said Vietnam sustained positive growth across most industries and sectors despite a challenging international economic environment.

Public-private partnerships drive low-emission rice farming

Public-private partnerships drive low-emission rice farming

Experts agreed that integrating nutrient management, biotechnology, mechanisation and digital technologies will enhance productivity, reduce greenhouse gas emissions and accelerate the transition towards greener, more sustainable rice production.