Politics

Vietnam records steady socio-economic improvement: PM

Prime Minister Pham Minh Chinh highlighted that thanks to the Party’s leadership and nationwide efforts, socio-economic performance has improved month by month and quarter by quarter.

Prime Minister Pham Minh Chinh chairing the Government's meeting on October 5 (Photo: VNA)
Prime Minister Pham Minh Chinh chairing the Government's meeting on October 5 (Photo: VNA)

Hanoi (VNA) - Vietnam’s socio-economic situation has improved, with gains recorded month over month, quarter over quarter, and the first nine months of 2025 showing better results than the same period last year, stated Prime Minister Pham Minh Chinh while chairing the Government's meeting on October 5.

PM Chinh noted that Vietnam had passed three quarters of 2025 amid global uncertainties, including prolonged conflicts, strategic competition, trade tensions, slowing global growth, volatile financial markets, high public debt, and soaring gold prices.

He said that the country has focused on implementing six key tasks - operating the two-tier local government model; driving growth to 8.3–8.5% in 2025; implementing Politburo breakthrough resolutions; preparing for the 13th Party Central Committee’s meeting and the 10th session of the 15th National Assembly; organising Party congresses at all levels towards the 14th National Congress; and addressing the impacts of four major storms in September.

vna-potal-thu-tuong-chu-tri-phien-hop-chinh-phu-thuong-ky-thang-9-nam-2025-8317868.jpg
Finance Minister Nguyen Van Thang reporting on the socio-economic situation in September and the first nine months of 2025 (Photo: VNA)

He highlighted that thanks to the Party’s leadership and nationwide efforts, socio-economic performance has improved month by month and quarter by quarter.

The macroeconomy remains stable, inflation is under control, major balances are ensured, growth momentum is strong, social welfare is safeguarded, people’s livelihoods improved, political and social stability maintained, national defence and security strengthened, and external relations expanded.

However, the PM pointed out challenges, such as external shocks, US tariff policies, inflationary and exchange-rate pressures, rising gold prices, underperforming traditional growth drivers, delays in new growth engines, and difficulties in implementing the two-tier local government model, alongside heavy storm damage.

He requested participants to assess the September and nine-month socio-economic situation, Government performance, lessons learned, obstacles in the two-tier model, and propose key solutions for the fourth quarter of 2025.

The meeting also reviewed public investment disbursement, implementation of national target programmes, and other major issues./.

VNA
#Vietnam’s socio-economic situation #Prime Minister Pham Minh Chinh #Government's meeting #two-tier local government model #Vietnam's reforms
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