Hanoi (VNA) - Prime Minister Pham Minh Chinh has urged ministries, sectors, and localities to stay committed to measures that ensure macroeconomic stability, keep inflation in check, and maintain key economic balances, to achieve a growth rate of at least 10%, according to the government spokesperson.
Minister and Spokesperson of the Government Tran Van Son said at a press conference on March 4 that the PM made the request at the Government’s February regular meeting held online with localities earlier the same day.
According to Son, the meeting was held against a backdrop of unpredictable global developments, including new US tariff measures and escalating Middle East tensions disrupting shipping, aviation and fuel markets, while domestically, ministries and localities continued implementation of the 14th National Party Congress Resolution and related directives of the Politburo.
The Government observed that thanks to the concerted efforts of the political system, people and the business community, socio-economic performance in the first two months of the year remained highly positive, with significant results recorded across sectors.
Macroeconomic stability was maintained, inflation controlled, and major balances ensured, with the average CPI rising about 3% in the first two months. Monetary and foreign exchange markets remained broadly stable.
All three economic sectors posted positive growth, with the index of industrial production in the first two months estimated to have risen 10% and stable agricultural production. Total retail sales of goods and consumer service revenue were estimated to increase 8%. The February Purchasing Managers Index (PMI) stood at 54.3, marking an eighth consecutive month of expansion.
In the two months, state budget revenue reached an estimated 601 trillion VND (22.9 billion USD), or 23.8% of the projection, up 13.1% year-on-year. Total import-export turnover rose 22.2% to 156 billion USD. Public investment disbursement hit 5.6% of the yearly plan. Newly registered FDI jumped 61.5%, with disbursed FDI up 8.8%. Some 64,500 enterprises were newly established or resumed operations, a 29.4% increase year-on-year.
External relations and international integration were further deepened, with numerous high-level diplomatic activities held from the start of the year, helping enhance the country’s prestige and standing, Son said.
However, the Government also noted ongoing challenges, including pressure on macroeconomic management, inflation, exchange rates and interest rates, volatile gold prices, and persistent difficulties in certain sectors, he added.
In his concluding remarks, PM Chinh urged the strict implementation of the 14th National Party Congress’s Resolution and proactive responses to the impacts of the Middle East tensions. He called for close coordination between flexible monetary and reasonably expansionary fiscal policies, Son said.
The Government leader stressed the need to renew traditional growth drivers and promote new engines, and accelerate public investment disbursement, aiming for full allocation of assigned capital in 2026, while speeding up key projects launched in 2025. He also pressed for the effective operation of the International Financial Centre, the launch of a national single-window investment portal and a digital asset trading platform.
The PM also called for stronger trade promotion, export market diversification and swift FTA negotiations, alongside faster digital transformation, green transition, institutional reform, removal of business bottlenecks, efficient resources use, settlement of delayed projects and intensified anti-corruption efforts./.
