Hanoi (VNA) - Prime Minister Pham Minh Chinh on November 8 morning chaired the Government’s regular meeting, which was connected with all 34 provinces and cities nationwide, to assess the socio-economic development situation in October and the first 10 months of 2025, the allocation and disbursement of public investment capital, the implementation of national target programmes, and many other important issues.
In his opening speech, PM Chinh emphasised that the world situation continued to witness complicated and unpredictable developments in October, with many major challenges.
In particular, the US's reciprocal tax policy shifted towards reducing tax rates and increasing agreements with other countries, but still contained many uncertainties. The central banks of other countries continued to reduce operating interest rates to support growth, but global financial sustainability contained many risks. Strategic competition developed complicatedly, leading to the increase of protectionism and changes in global economic rules. Natural disasters, storms and floods developed in a complicated and unpredictable manner, causing serious consequences.
In October, many important events took place in the country, especially the 13th Party Central Committee’s 13th plenum and the 10th session of the 15th National Assembly, according to the government leader.
The entire political system has striven to successfully complete the socio-economic targets for 2025 and the entire 2021-2025 term; implement the Politburo's strategic resolutions; operate the two-level local administration model; and prevent and overcome the consequences of natural disasters, especially record rains in some localities, including in central Hue city.
In that difficult context, thanks to the efforts of the entire political system and the entire people under the leadership of the Party, the Politburo, the Secretariat, headed by General Secretary To Lam, the socio-economic situation continued to see steady progress, with better results recorded month after month and in the first 10 months of 2025 as compared to the period last year.
The macro economy was stable, inflation was controlled, growth was promoted, and major balances were ensured, while due attention were paid to cultural and social areas, and social security was guaranteed and people's lives were improved. National defence and security were consolidated and enhanced, while foreign affairs and international integration were promoted.
According to the PM, although achieving basic results, the economy still has limitations, shortcomings and many difficulties and challenges: inflationary pressure, exchange rates, and interest rates are increasing; gold prices and real estate prices have not cooled down; domestic consumption, exports, and public investment disbursement tend to slow down; the two-level local administration model still has some difficulties and problems; natural disasters, storms, floods and prolonged heavy rains have severely affected production, business and people's lives.
PM Chinh requested delegates to focus on discussing and giving specific opinions on the direction and administration of the Government, ministries, sectors and localities; and the socio-economic situation in October and the first 10 months as well as difficulties, obstacles, objective and subjective causes and lessons.
The government leader asked delegates to propose key tasks and solutions in the coming time in each specific field, especially groundbreaking solutions to promote growth, effectively implement the Politburo’s resolutions, and smoothly operate the two-level local administration.
PM Chinh also urged attendees to focus discussions on issues related to social housing, building schools in border areas, and effectively preventing, combating, and overcoming the consequences of natural disasters, remaining problems in key projects and tasks, and matters regarding institutions and laws that need to be resolved./.
