Hanoi (VNA) – Prime Minister Pham Minh Chinh chaired the Government’s regular meeting on December 6 to discuss the socio-economic situation in November and the first 11 months of 2025.
Opening the session, PM Chinh pointed out that while global developments remain complicated and unpredictable, the country is preparing to hold many important events and exerting all-out efforts to fulfil the socio-economic targets for 2025 and the whole 2021–2025 term, implement the Politburo’s strategic resolutions, operate the two-tier local administration model, and address natural disaster consequences.
Despite numerous difficulties, thanks to efforts by the entire political system and all people under the leadership of the Party, headed by General Secretary To Lam, the socio-economic situation remains positive with better results recorded in most fields month over month and over the same period last year, he said.
The macroeconomy stays stable, inflation has been kept under control, growth drivers promoted, major economic balances guaranteed and, especially, power and food supply ensured, even in the face of storms and floods. Besides, cultural and social affairs have received due attention, social security been ensured, people’s life quality improved, politics and society stable, defence – security enhanced, while external relations and international integration fostered.
However, he also pointed out certain shortcomings, problems, and challenges facing the economy, including inflationary and exchange rate pressure, slow public investment disbursement, impacts of prolonged flooding, and limitations in the operation of the two-tier local administration model.
The PM asked officials to analyse outstanding results, difficulties and obstacles needing to be addressed, causes, and lessons.
In particular, he went on, focal tasks and measures should be devised for each area, especially breakthrough ones for achieving the growth target of at least 8%; measures for settling storm and flood aftermath; and those for cultural, social, defence, security, and external affairs.
The meeting highlighted that between January and November, the consumer price index (CPI) increased 3.3% year on year, the state budget revenue approximated 2.4 quadrillion VND (91 billion USD), equivalent to 121.9% of this year’s target and up 30.9% from the same period last year although about 239.1 trillion VND in taxes, fees, and charges were cut or had payment deadlines extended. Public debts, Government debts, foreign debts, and budget overspending were under control.
Foreign trade turnover during the 11 months was estimated at nearly 840 billion USD, rising some 17.2% year on year, with a trade surplus of over 20.5 billion USD. About 553.25 trillion VND in public investment was disbursed, or 60.6% of the target set by the PM. Meanwhile, foreign trade investment (FDI) registered during the period stood at nearly 33.7 billion USD, and the disbursed FDI was about 23.6 billion USD, respectively rising 7.4% and 8.9%.
Many localities have sustained GRDP growth of 8% and over, including six posting a rate of over 10%, namely Quang Ninh, Hai Phong, Ninh Binh, Phu Tho, Bac Ninh, and Quang Ngai. Key transport and energy projects have been accelerated. Besides, many international organisations have continued to issue positive assessments and optimistic forecasts of Vietnam’s economy this year.
Social security has been enhanced, with nearly 6.8 trillion VND from the central budget’s contingency fund allocated to localities nationwide during the 11 months. Swift and strong actions have been taken in response to storm, flood, and landslide consequences and support disaster-hit residents to rebuild houses and resettle.
Participants also underlined positive results in other fields, including culture, health, education, institutional perfection, administrative procedure reform, digital transformation, national defence – security, independence and sovereignty safeguarding, social order and safety, along with the fight against crimes./.
