Hanoi (VNA) - Deputy Minister of Finance Le Tan Can has outlined three key and breakthrough solutions to maintain macroeconomic stability, control inflation, and balance growth speed with quality amid global economic headwinds and pressure to achieve high growth targets in 2026.
During the Government’s regular press briefing for April held in Hanoi on May 4, Can said the first and most critical move is the consistent and effective translation of major Party and State directives into action, including the 14th National Party Congress’s resolution and documents, conclusions from the Party Central Committee’s second plenum, the Politburo’s strategic resolutions, and key socio-economic development resolutions adopted by the 16th National Assembly at its first session, along with the Government’s April 16 resolution.
The second solution is locking in macroeconomic stability, curbing inflation, and guarding core economic balances. Priority sits with proactive, flexible, and tightly coordinated management of fiscal and monetary policies alongside other macro tools.
Under this approach, the Government is fast-tracking a project to build an independent, self-reliant economy tied deeply to deeper global integration in the new context. Authorities at all levels are tasked with close monitoring and swift, effective responses to adverse external shocks, shielding national financial security and preventing economic instability in any scenario.
The third targets growth quality, ensuring economic expansion moves in lockstep with social and cultural progress so that citizens capture the gains.
This means quickening the shift from extensive to intensive growth, lifting labour productivity and competitiveness, and embedding sci-tech, innovation, and digital transformation as core growth engines. The Government is also putting the final touches on a comprehensive scheme to reform the growth model.
Efforts will concentrate on raising total factor productivity through technology application, digital transformation, and human capital upgrades. At the same time, institutional fine-tuning, streamlined administrative procedures, and a measurably improved business environment stay on the agenda.
The Government also aims to sharpen resource allocation and lift investment efficiency, measured by the incremental capital-output ratio (ICOR). Public investment is expected to play a catalytic role, pulling in greater private sector involvement.
Vietnam’s consumer price index rose 0.84% in April from the previous month and 5.46% from a year earlier. For the first four months of 2026, CPI averaged 3.99% compared to the same period last year, with core inflation at 3.89%, according to official data./.
