Trade turnover reaches an estimated USD 344.2 billion, up 24.2%

The meeting reviewed socio-economic performance in April and the first four months of 2026, the allocation and disbursement of public investment, implementation of national target programmes, as well as the Government’s direction and administration, outcomes of assigned tasks in April, new points in the Government’s working regulations, and key priorities for May and the period ahead.

Participants broadly agreed that macroeconomic conditions remained fundamentally stable, inflation was kept under control, and major economic balances were safeguarded. The consumer price index (CPI) rose an estimated 3.99% in the first four months; state budget revenue exceeded VND 1.11 quadrillion, fulfilling 44% of the annual estimate and increasing 15.2% year-on-year; total import-export turnover reached an estimated USD 344.2 billion, up 24.2%.

Agricultural production remained stable, while industrial output recorded solid growth, with manufacturing and processing expanding by 9.9%. Progress on key projects was maintained. Trade and services continued their upward trajectory, with total retail sales of goods and consumer service revenue rising by an estimated 11.1%. Tourism also rebounded strongly, welcoming nearly 8.8 million international arrivals, up 14.6%.

Business activity showed signs of recovery, with more than 119,400 enterprises newly established or resuming operations, a year-on-year increase of 32.8%.

Infrastructure development projects were accelerated. As of April 30, 2026, nearly 200 kilometers of expressways had been added to the national network, while major transport projects, including airports and high-speed rail, were being actively advanced.

Science, technology, innovation and digital transformation continued to gain momentum. E-commerce, cashless payments, tax administration and e-invoicing achieved notable progress.

National independence, sovereignty and territorial integrity were firmly safeguarded, while external relations and international integration were strengthened. Numerous high-level diplomatic activities were successfully conducted, helping to concretise cooperation across sectors in support of national development goals.

Closely track trade developments, optimise FTAs

In his concluding remarks, Prime Minister Le Minh Hung largely concurred with the reports and opinions presented, while also highlighting existing challenges and constraints.

Looking ahead, he stressed the need to fully and promptly internalise and effectively implement the Resolution and Action Programme of the 14th National Party Congress, along with resolutions and conclusions of the Party Central Committee, the Politburo, the Secretariat, the National Assembly and the Government, particularly the Politburo’s strategic resolutions.

On institutional and policy frameworks, the Prime Minister called for stronger discipline in drafting and promulgating detailed legal documents guiding the implementation of laws and resolutions. He underscored stricter accountability of heads of agencies, with the issuance of such documents serving as a key performance indicator.

Ministries and central agencies were tasked with reviewing legal bottlenecks currently addressed by temporary provisions set to expire before March 1, 2027, particularly those concerning decentralisation, delegation of authority and organisational restructuring, and proactively issuing or submitting relevant legal documents to avoid regulatory gaps.

A key priority, he emphasised, is the rigorous implementation of eight Government resolutions on cutting and simplifying administrative procedures, business conditions and decentralisation. This is an ongoing task, requiring continued review and streamlining in areas such as environmental impact assessment, construction licensing, industrial park management, and fire prevention and control.

On macroeconomic management, the Ministry of Finance is to take the lead, in coordination with the State Bank of Vietnam, the Ministry of Industry and Trade, the Ministry of Agriculture and Environment, and other relevant agencies, in deploying synchronised measures to promote growth while maintaining macroeconomic stability and mobilising resources effectively.

The Prime Minister called for close monitoring of developments, proactive forecasting and the formulation of flexible macroeconomic policy scenarios. The Ministry of Finance and the State Bank were urged to strengthen coordination and ensure a balanced, effective mix of monetary, fiscal and other macroeconomic policies.

Ministries and agencies were instructed to accelerate public investment disbursement, aiming for a 100% disbursement rate, thereby reinforcing the leading role of public investment. Monthly disbursement results must be publicly disclosed on the Government Portal and mass media. At the same time, authorities are to expedite the resolution of long-delayed projects.

The State Bank was directed to closely monitor import-export dynamics, trade deficits, foreign currency demand, payment obligations and debt servicing, and to manage interest rates, exchange rates and credit in a flexible and balanced manner. Credit programmes should be reviewed and effectively implemented to ensure businesses and citizens can access capital at reasonable costs, particularly in priority and growth-driving sectors.

Regarding sectoral development, the Ministry of Agriculture and Environment is to coordinate with relevant agencies and localities to boost production and business activities, including enhanced credit support for fisheries and rice production.

The Ministry of Industry and Trade was tasked with closely tracking trade developments, trade imbalances and export growth of domestic enterprises, and promptly introducing support measures. It must also make effective use of the 17 signed free trade agreements and step up negotiations for new FTAs to expand markets and boost exports. Urgent reviews and adjustments to the Power Development Plan VIII are required to ensure electricity supply, alongside reforms to the petroleum distribution system, strategic energy reserves and diversification of supply sources.

The Ministry of Construction was urged to expedite investment preparation, particularly for the North–South high-speed railway and rail links with China, while accelerating key projects such as Long Thanh and Gia Binh airports. It must also provide timely guidance to localities on construction materials where difficulties arise.

Efforts must be intensified to develop a healthy and sustainable real estate market, expand the supply of social housing across purchase, lease and lease-purchase models, and strive to complete more than 110,000 social housing units in 2026.