Planning-investment sector urged to pioneer in five areas

These include renovation of mindset and vision; building and completion of socialist-oriented market economy institutions; mobilising resources for development by attracting foreign direct investment and developing new economic models and areas.

Prime Minister Pham Minh Chinh (R) present first-class Labour Order to Minister of Planning and Investment Nguyen Chi Dung (Photo: VNA)

The sector should also pioneer in innovation, digital transformation, green transition, promoting creative economy and night-time economy in association with economic reform, and enhancing State statistics and establishing a comprehensive national database, the PM said at a conference of the Ministry of Planning and Investment (MPI) to review performance of the sector and set tasks for 2025 held in Hanoi on December 28.

The PM urged the planning-investment sector to show better performance in regulating the macro-economy, while actively building socio-economic development scenarios got 2025 and following years, keeping a close watch on regional and global developments, strengthening forecast and alerting activities, and proposing solutions to remove difficulties for businesses, promote growth and control inflation.

He highlighted the task of completing the construction of 3,000km of expressways within 2025 and implementing major infrastructure projects, the Government leader asked the MPI to give advice to the Party, State and support the Government to speed up the disbursement of public investment and accelerate construction of key projects.

Alongside, the planning-investment sector should focus on restructuring the economy in line with transforming the growth model and seek new economic models, encouraging startups, and enhancing the quality of statistics gathering activities, he said.

The PM also reminded the ministry to improve the capacity of its Party Organisation and quality of Party members, preventing signs of “self-transformation” and “self-evolution” among them.

The leader hailed the sector's strong performance and achievements in 2024 amid many difficulties and challenges.

In the year, the MPI has been tasked with implementing 61 projects out of a total of 345 assigned to ministries and Government agencies. To date, the ministry has completed the majority of its assigned projects and duties as outlined in the Government’s work programme.

It has advised competent authorities on the promulgation of, or issued under its authority, significant legal and regulatory frameworks, including two laws, five National Assembly resolutions, nine Government decrees, 14 circulars, eight Government resolutions, and six directives from the Prime Minister.

The ministry has served as the standing body or coordinating hub for seven task forces focused on addressing obstacles, streamlining public investment disbursement across central and local agencies, and ensuring effective oversight. It has facilitated 26 working delegations by Government members on production, public investment, infrastructure development, and import-export activities at the local level. It also plays a key role in six regional coordination councils and numerous steering committees.

Alongside, the MPI has verified four provincial planning, two national target programmes, three major national projects, and 39 large-scale programmes and projects under the investment policy approval authority of the Prime Minister.

Additionally, the ministry has completed and submitted numerous significant proposals and reports to competent authorities. It has also issued nearly 14,000 documents related to its functions and responsibilities.

It has played a pivotal role in driving foreign direct investment (FDI) inflows. By the end of November 2024, FDI commitments exceeded 31 billion USD, with disbursed capital surpassing 21 billion USD - an increase of over 7%, marking the highest levels in recent years.

It has coordinated with relevant ministries and localities to develop and submit six regional plans for approval by the Prime Minister. It has played a key role in the development of provincial planning for the 2021–2030 period, with a vision towards 2050. To date, 62 out of 63 cities provinces and cities have had their plans approved, announced, and put into action.