Concluding the regular Government meeting of April at the morning of May 4th, in addition to the achieved results, Prime Minister Pham Minh Chinh pointed out that the socio-economic situation still has many shortcomings, limitations and challenges, such as the pressure on macroeconomic management and inflation control.
The real estate market has initially stabilized, but difficulties and problems have yet to be resolved; bad debts tend to increase. The disbursement of the VND120,000 billion social housing credit package is still slow. There is still VND32,000 billion in public investment capital that has not been allocated.
Prime Minister Pham Minh Chinh.
Regarding the tasks for the coming time, the Prime Minister requires continuing to actively, flexibly, promptly, and effectively manage the monetary policy; closely, harmoniously, and synchronously coordinating with a reasonable, focused, and prioritized fiscal expansion policy; noting not to manage “erratically” and that the fiscal policy must be more positive.
Healthily, safely, and effectively developing the stock, corporate bond, real estate, gold, etc. markets; strictly handling violations. Strengthening price and market management, having a suitable roadmap to adjust prices of State-managed commodities and public services. “No sudden price hikes, no price hikes for many commodities at the same time, no price hikes at the time of salary increases”, the Prime Minister noted.
Regarding the disbursement of public investment capital, the Prime Minister requested to continue effectively implementing the activities of the five working groups of the Prime Minister; striving to achieve a disbursement rate of public investment capital in 2024 of at least 95%; allocating the remaining VND33,000 billion of the 2024 public investment plan soon.
According to the Prime Minister, previously, public investment projects often dragged on, but now this is being gradually overcome, many projects are on schedule. Notably, many expressway projects are likely to be completed 3-6 months ahead of schedule and it is expected that by June 30, 2025, the Thong Nhat expressway route from Hanoi to Ho Chi Minh City can be connected.
In particular, the Prime Minister noted to ensure sufficient electricity and gasoline supply in all scenarios; effectively implementing the Power Plan VIII; speeding up the progress of the projects under implementation for early commissioning.
Urgently completing and submitting for promulgation a decree on direct electricity trading between generating units and large electricity consumers; policies to encourage the development of rooftop solar power installed at people’s houses, offices, industrial parks for self-production and self-consumption, and policies to develop offshore and coastal wind and gas power. “The general spirit is that the regulations when issued must be put into practice, creating motivation, removing bottlenecks, putting the interests of the nation and people first, and opposing vested interests”, said the Prime Minister.
At the meeting, the Prime Minister also requested to implement comprehensive solutions related to gold market management. Along with that, carefully prepare and report to the competent authorities to implement the new salary reform from July 1, 2024, ensuring fairness, comprehensiveness, and consistency.
