Prime Minister Pham Minh Chinh chaired the monthly Government meeting for March 2024 and the online Prime Minister’s Conference with localities – Photo: VGP/Nhat Bac
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Socioeconomic conditions in March and the first quarter achieve many important results
The Resolution clearly states that the Government agrees to assess the socioeconomic situation in March and the first quarter as continuing to recover positively, achieving many important, encouraging results, and creating momentum to strive to complete the goals and tasks of the Socioeconomic Development plan. Plan 2024.
The macroeconomy is basically stable, inflation is controlled, growth is promoted, and the major balances of the economy are ensured. Gross domestic product (GDP) in the first quarter increased by 5.66% compared to the same period last year, surpassing the scenario set out in Resolution No. 01/NQ-CP, the highest increase in the first quarter since 2020. Consumer price index (CPI) in March increased by 3.97%, with a general increase of 3.77% in the first quarter compared to the same period. The money market is basically stable; the interest rate level remains low, the demand for foreign currency in the country is met, and the banking system is secured.
Import and export turnover in the first quarter increased by 15.5% compared to the same period; estimated trade surplus reached 8.08 billion USD. In the first quarter, disbursement of public investment capital reached 13.67% of the plan, 3.32% higher than the same period; total investment capital realized by the whole society increased by 5.2% compared to the same period, continuing to create momentum for a breakthrough in the following quarters.
Many international organizations continue to positively assess the results of the Government’s direction and operation, the Prime Minister, and have optimistic forecasts for Vietnam’s economic growth in 2024.
Strive to achieve and surpass the targets and indicators in 2024
The Government, the Prime Minister, request the Minister, the Head of the Government Office, the Chairman of the People’s Committees of the provinces and cities directly under the Central Government to thoroughly grasp and effectively implement the tasks and solutions for socioeconomic development according to the Resolution, Conclusion of the Central, the Politburo, the Secretariat, the National Assembly, the Government, especially Resolution No. 01/NQ-CP and 02/NQ-CP dated January 05, 2024, Resolutions of the regular Government Meeting, Directives, Telegrams and instructions of the Prime Minister; continue to uphold responsibility, decisiveness, timeliness and closely and synchronously coordinate, effectively in directing and operating with the spirit of “5 determinations”, “5 guarantees”, “5 promotions”; proactively advise, propose and handle work within their competence; firmly and consistently implement the priority orientation of promoting growth associated with macroeconomic stability, controlling inflation and ensuring the major balances of the economy, social security; take full advantage of opportunities and favorable conditions, quickly remove difficulties and obstacles arising, and strive to overcome challenges to implement the highest and best, striving to achieve and surpass the goals and targets in 2024, especially the growth target.
Have breakthrough solutions to increase access to capital for the economy
The Government requests that ministries, agencies, and localities, based on their assigned functions, tasks, and authorities, closely coordinate, effectively, and harmoniously the macroeconomic management policies to maintain the stability and growth of the economy. Continue to direct and manage credit institutions to reduce loan interest rates, and have breakthrough solutions to increase access to capital for the economy. Strengthen financial and state budget discipline and order; expand and strictly manage revenue sources, strengthen the management of commercial e-commerce tax collection, strictly implement regulations on electronic invoices, especially in the fields of retail gasoline and oil business and food and beverage services, restaurants, etc.; thoroughly save expenses, especially regular expenses, career expenses of an investment nature.
At the same time, be proactive, grasp the market situation, supply and demand, and prices of goods to have appropriate and effective solutions to stabilize the market and prices, especially for gasoline, oil, food, housing, and other goods. essential goods. Prepare price options and appropriate and effective adjustment schedules for items priced by the State, public services according to the market roadmap, especially for adjusting tuition fees, calculating direct labor costs, and management costs into medical examination and treatment services. ensure that inflation is controlled according to the set target.
Focus on developing the domestic market; effectively implement trade promotion programs, promoting the distribution of goods through digital platforms, and e-commerce. Proactively and strongly innovate the content and methods of tourism promotion and promotion, especially for the 2024 summer tourism peak season. Urgently deploy solutions to boost exports, especially to large, potential markets, vigorously promote the effectiveness of signed trade agreements and agreements; guide and support businesses in quickly meeting the new standards of export partner countries; facilitate the implementation of customs clearance procedures.
Resolutely disburse public investment capital; focus on promoting the construction progress of key projects and works, especially strategic and nationally important traffic infrastructure projects, such as the North-South expressway on the East side; East-West expressway projects; airports, seaports; expressways, inter-regional and inter-provincial projects. Speed up the completion, appraisal, and submission for approval of the remaining plans in the national planning system; urgently promulgate and effectively implement the Plan for implementation of approved plans. Restore and promote the growth of the industrial sector in localities and key economic zones. Proactively develop plans to ensure sufficient electricity supply for production and business, use electricity economically, and efficiently. Closely monitor the real estate market, corporate bonds, and proactively respond to potential developments and risks. Strengthen market management and implement solutions to stabilize the gold market.
Actively and proactively attract selective FDI, ensuring quality. Strongly promote private investment and foreign investment. Continue to promote the investment resources of state-owned corporations and businesses.
Urgently review and propose plans to reduce and simplify business licenses
The Government requests that ministries and ministerial-level agencies urgently review and propose plans to reduce and simplify business licenses according to Decision No. 104/QD-TTg dated January 25, 2024 of the Prime Minister; continue to revise and supplement legal documents under the competence of the Government, Prime Minister, Minister, and Head of a ministerial-level agency to organize the implementation of the simplification and decentralization of administrative procedures approved by the Government, Prime Minister.
Focus on implementing the tasks of digital transformation according to the 2024 theme “Developing the digital economy with 04 pillars of information technology industry, digitalizing economic sectors, digital governance, digital data – Important drivers for economy development – fast and sustainable society”. Urgently review information technology systems, strictly implement the requirements on network security and safety of the Government, Prime Minister.
Urgently report the results of building and approving the positions of ministries, agencies, and localities to the Ministry of Home Affairs for synthesis, and submit to the Government Office for monitoring, to be completed before April 15, 2024.
The Ministries: Natural Resources and Environment, Construction, Finance, Agriculture and Rural Development, according to their assigned functions and tasks, focus on directing the building, promulgation under their competence or submission to the competent authority for promulgation. guiding documents on the implementation of the amended Land Law, Real Estate Business Law, Housing Law, ensuring sufficient conditions to report to the Government to submit to the National Assembly for early approval of these Laws. Assign Deputy Prime Minister Tran Hong Ha to directly direct.
Ministries and agencies: Planning and Investment, Finance, Justice, and Government Inspectorate urgently comment on solutions to handle difficulties and obstacles in some transport infrastructure investment projects under the BOT form; coordinate with the Ministry of Transport to complete the dossier for submission to the National Assembly for consideration and approval at the 7th Session.
