PM issues directive to boost growth,kq lanus maintain economic stability

March 11, 2025 - 19:30 Your browser does not support the audio element. Prime Minister Phạm Minh Chính instructs ministers, heads of ministerial-level agencies and Government-subordinate bodies, along with provincial leaders to focus on fast and sustainable economic growth

Việt Nam has set the target of achieving at least 8 per cent economic growth this year and double-digit expansion in the following years. — VNA/VNS Photo

HÀ NỘI — Prime Minister Phạm Minh Chính has issued a directive that outlines key tasks and measures for flexible, timely, appropriate, and effective response to global and regional developments, ensuring economic growth, macroeconomic stability, inflation control, and major economic balances this year and beyond.

The directive said the Government has ordered ministries, agencies, and localities to closely monitor international and regional trends while implementing innovative and decisive measures to strengthen diplomatic, political, security – defence, economic, trade, and investment relations with partners, particularly with major countries.

Within the first quarter of 2025, Việt Nam is set to host eight conferences with domestic and foreign enterprises, including those from China, the US, the Republic of Korea, Japan, the EU, and ASEAN.

The conferences aim to address business challenges and improve the business and investment climate, while proposing measures to achieve the goal of at least 8 per cent economic growth this year and double-digit expansion in the following years.

The PM has instructed ministers, heads of ministerial-level agencies and Government-subordinate bodies, along with provincial leaders to focus on rapid and sustainable economic growth, which should be achieved in tandem with keeping the macro-economy stable, controlling inflation, ensuring major balances of the economy, securing social progress, equality and security, and protecting the environment.

Key priorities include promoting the economy's competitiveness, transparency, self-reliance, resilience, proactiveness, and creativity to flexibly and effectively adapt to regional and global volatility. It is necessary to diversify export markets, expand product ranges, strengthen supply chains, and foster new growth drivers to diversify development impulses.

The directive also stresses the importance of continuing to strongly and substantively enhance economic, trade, and investment partnerships with partners, especially neighbouring countries, superpowers, traditional friends, as well as the countries with which Việt Nam has comprehensive strategic partnerships, strategic partnerships, or comprehensive partnerships with.

The document points out the need to take proactive and effective measures to balance trade with large trading partners, and step up the signing of trade agreements and investment protection deals, helping boost stable, sustainable, and long-term economic, trade, and investment links with other countries.

In addition, the directive demands protecting national interests, sovereignty, and security at the highest possible level while enhancing Việt Nam’s global standing through proactive and flexible policies.

Priority should also be given to thoroughly and effectively dealing with partners' concerns in a timely manner, and showing Việt Nam's understanding, goodwill, and sincerity in the implementation of agreements and commitments to strengthen partners' trust.

The PM has tasked the Ministry of Foreign Affairs with coordinating with relevant agencies to bolster political-diplomatic, economic, and defence–security measures to keep reinforcing ties with countries, particularly with superpowers and Việt Nam’s comprehensive strategic partners, on the basis of mutual trust and win-win benefits. It is also necessary to facilitate an environment conducive to fruitful cooperation in trade, investment, science–technology, innovation, digital transformation, and green transition.

The Ministry of Industry and Trade was instructed to finalise an action plan for balanced and sustainable trade relations with major partners, focusing on complementary trade structures rather than direct competition. The plan must be submitted to the PM by March 12 for immediate implementation.

Additionally, the Ministry of Finance was assigned to review the country’s tax policies towards strategic and comprehensive strategic partners, including the US, to ensure a fair and balanced approach.

The Ministry of Agriculture and Environment was told to develop a cooperation strategy on potential areas such as natural resource management, mining, and agriculture, while the Ministry of Science and Technology and the MoFA was tasked with focusing on collaboration in high-tech sectors like semiconductors, artificial intelligence, and cloud computing.

To address concerns from international partners, the MoFA, the Ministry of Home Affairs and the Ministry of Public Security were instructed to prioritise resolving labour permit and visa-related issues.

Meanwhile, the Ministry of Culture, Sports and Tourism, alongside media agencies, was directed to enhance communications, showcasing Việt Nam’s cooperation efforts with partners, socio-economic achievements, governance reforms, and advancements in technology and innovation. — VNA/VNS