PM demands priority to promoting economic growth

PM Pham Minh Chinh addresses the Government’s regular meeting for November in Hanoi on December 6. (Photo: VNA)

Chinh said that thanks to the strong engagement and determination of the entire political system, people, and businesses under the Party’s leadership, the socio-economic situation continued the positive trend in November to achieve general targets and significant results in different spheres.

The macro-economy remains stable, and inflation has been contained with an 11-month increase of 3.22%. Growth has been boosted, major balances guaranteed, industrial production bouncing back, and foreign trade recording good growth with an 11-month surplus of 25.83 billion USD.

He also highlighted positive results in the fields of agriculture, services, development investment, and cultural and social affairs, adding that the socio-political situation stays stable while defence - security have been firmly maintained, social order and safety guaranteed, the fight against corruption and negative phenomena enhanced, and diplomacy and international integration stepped up. Besides, the public, government, and foreign debts, along with budget overspending have been kept under control.

These are important factors creating room for growth, he emphasised.

The Government leader ordered drastic actions be taken and priority given to promoting economic growth in tandem with sustaining macro-economic stability, curbing inflation, and ensuring major balances of the economy.

Current problems and obstacles must be tackled effectively to secure the recovery and stable, safe, healthy, and sustainable development of markets, especially real estate, corporate bond, stock, labour, and science - technology ones. In addition, a proactive, flexible, timely, and effective monetary policy must continue and be harmoniously coordinated with a reasonable and centre-driven fiscal policy and other policies. While financial and budgetary discipline needs to be strengthened, solutions to poor-performing projects and businesses as well as outstanding problems are required, the PM went on.

He also underlined the necessity to push ahead with the growth drivers of investment, export, and consumption, particularly during the year-end period; strongly bolster development in the six socio-economic regions; foster economic expansion in big cities to fuel growth; grasp opportunities generated from the global and regional production, trade, and investment chains; draw investment to the semiconductor and electronics industries; and attract green finance and credit to renewable and new energy development.

It is also necessary to boost intra- and inter-regional connectivity, develop science, technology and innovation to serve emerging sectors, firmly maintain traditional markets, and explore new ones, particularly the Middle East, Africa, and South America, PM Chinh said.

He asked ministries, sectors, and localities to accelerate public investment disbursement, the socio-economic recovery and development programme, and the three national target programmes. They also need to remove production and business bottlenecks, step up the mobilisation and effective use of resources, further cut and streamline administrative procedures and business conditions, continue bettering the business climate and competitiveness, and facilitate credit access for businesses, especially small- and medium-sized ones.

At the meeting, PM Chinh also demanded more attention to cultural and social affairs, environmental protection and climate change response, apparatus restructuring, the combat against corruption and negative phenomena, defence - security safeguarding, social order and safety, diplomacy and international integration, policy communication, along with the fight against wrongful and toxic information.