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Prime Minister Pham Minh Chinh has directed that maintaining macro-economic stability, controlling inflation, propelling growth and ensuring major balances of the economy continue to be priorities in February and coming months.
Chairing the Government’s monthly teleconference with localities on February 2, PM Chinh requested keeping a close watch on the domestic and foreign market situation. He asked for extensive monitoring of product price and inflation to enable a quick response to the current situation. He also requested timely forecasts and risk warnings while adopting a sound, flexible and effective monetary policy in close and synchronous combination with monetary, fiscal and other policies.
The PM also requested that associated ministries ensure the liquidity and safety of credit organisations, gearing credit into production and trade, priority areas and growth pillars. Another important topic is stepping up cashless payment, while tackling difficulties for real estate market, prioritising capital for transparent and effective enterprises, and enhancing social investment attraction and public-private partnership.
Localities need to take initiative for the disbursement of public investment capital and national target programmes, he reminded.
Ministries, agencies and localities were also urged to effectively tap domestic markets, with a focus on the campaign “Vietnamese prioritise using Vietnamese goods”. He also requested the Cabinet and localities to expand export markets and effectively optimise free trade agreements, especially new-generation deals.
They were also assigned to carry out projects on schedule and with quality to report to the Politburo, the Party Central Committee’s Secretariat and the National Assembly; and effectively follow the Party's guidelines and the resolutions of the Party Central Committee, the Politburo, the Secretariat, the NA and Government within their assigned roles and authority.
In January, key economic sectors such as industry, agriculture and tourism thrived. However, difficulties and challenges are increasing both inside and outside the economy. According to the global economic outlook report released in January, the World Bank (WB) forecast that Vietnam's 2023 economic growth will hit 6.3%, or 0.2% lower than the previous prediction, but still the second highest in the Asia-Pacific.
Social welfare in Vietnam is guaranteed, with around 9.5 trillion VND (413 million USD) spent to benefit 25 million people.
