Hanoi (VNA) – Prime Minister Pham Minh Chinh has issued Official Dispatch No. 165/CD-TTg on continued efforts to maintain macro-economic stability, control inflation, foster growth, ensure economic balances, and improve citizens' living standards.
The dispatch was sent to ministers, heads of ministries and Government bodies, as well as the Chairpersons of People’s Committees in provinces and cities, and leaders of State-owned corporations and commercial banks.
The document noted that on September 12, 2025, PM Chinh chaired a meeting to discuss the ongoing efforts to ensure macroeconomic stability, control inflation, and promote growth. After reviewing reports from ministries and hearing Deputy Prime Minister Ho Duc Phoc’s comments, the PM gave a number of directions.
He recognised the socio-economic challenges outlined in the Government’s August meeting. Despite global difficulties and limited opportunities, Vietnam’s economy continued to show positive signs. Under the strong leadership of the Party, led by General Secretary To Lam, the monitoring of the National Assembly, and the proactive approach of the Government, ministries, local authorities, businesses, and citizens, the socio-economic situation in August remained positive.
The macro-economy was stable, inflation was under control, growth expanded, and major economic balances were guaranteed. The labour market remained stable, public debt and budget deficits were contained, while social welfare and citizens' living standards improved.
While these results are positive, issues such as exchange rates, the stock market, real estate, credit growth, and cybersecurity need careful management.
The targets for 2025 are ambitious, given global economic challenges. The overarching goal is to maintain macroeconomic stability, control inflation below the target, achieve growth of 8.3-8.5%, ensure major economic balances, surpass budget revenue estimates by 25%, and control public debt, government debt, foreign debt, and budget deficit. The country must also ensure food security and cybersecurity, and increase exports, while aligning strategic commodity prices with the economy and citizens’ incomes.
To achieve these goals, the PM called for strong commitment and coordinated efforts from ministries, agencies, and local authorities. All actions must be effective, focused, and responsive to real-world conditions. Collaboration among the central authorities, local leaders, and private sector resources is essential. Key actions include the Ministry of Finance implementing timely fiscal policies to support monetary policy, with a focus on public investment disbursement and mobilising capital. Tax relief measures will continue to stimulate business activity.
The Ministry of Industry and Trade will work to expand export markets, diversify trade channels, and stabilise energy markets to prevent shortages of electricity, oil, and essential goods. The State Bank of Vietnam will adopt flexible monetary policies to control inflation and promote sustainable growth. Lending rates will be reduced, and credit flow will be directed to priority sectors.
The Ministry of Construction was tasked to ensure the real estate market remains balanced, with an emphasis on affordable housing and addressing supply-demand mismatches. The Ministry of Science and Technology will foster a transparent, sustainable market for science and technology, implementing the Party’s Resolution on technological innovation. Local authorities are tasked with ensuring efficient governance, reducing administrative burdens, and fostering innovative, people-focused service delivery.
The public information campaigns will continue to promote positive narratives that inspire confidence and unity, focusing on motivating the public and supporting national development. The Government will monitor critical sectors like the stock market, foreign exchange, and gold, taking immediate action when necessary to stabilise these areas. Strict enforcement of legal compliance will be prioritised to prevent speculative practices that could disrupt the market.
Finally, the PM assigned specific tasks to Deputy PMs to coordinate with ministries and agencies to ensure the effective implementation of these strategies./.
