The Economy’s Resurgence: A 7-Month Snapshot

At the conference, regarding the socio-economic situation in the first seven months of 2024, Deputy Minister of Planning and Investment Do Thanh Trung stated that the economy has been recovering remarkably, with each month and quarter performing better than the last. The country has achieved many important and comprehensive results.

Specifically, economic growth in the second quarter reached 6.93% year-on-year, and 6.42% for the first six months. This is a positive growth rate, higher than the government’s highest scenario of 6% in Resolution No. 01. The industry-construction sector has returned as the main driver of economic growth. July exports rose 15.7% year-on-year, a bright spot for the economy; exports to major markets such as the US, EU, and China have all grown positively, with a high trade surplus of $14.08 billion in the first seven months.

Along with this, the macroeconomy remains stable, inflation is controlled, and major balances are guaranteed. Innovation, digital transformation, green transition, circular economy, and new industries and fields such as chips, semiconductors, and artificial intelligence continue to be strongly promoted. Training and developing high-quality human resources for these industries and fields are given attention and emphasis.

However, growth drivers still face many difficulties and challenges, and macroeconomic stability is at risk. Inflationary pressures remain high and need to be closely monitored to develop proactive and timely solutions. Regarding key tasks and solutions for the last months of the year, Deputy Minister Do Thanh Trung emphasized: “It is necessary to urgently review and resolutely remove difficulties and immediately address institutional, legal, and administrative procedural obstacles to ensure progress and quality. This is considered a driving force for economic growth in the remaining months and the near future. Continue to promote the three new growth drivers: investment, consumption, and exports, focusing on effectively implementing support policies for businesses and boosting domestic demand.”

Also, at the conference, the delegates were informed by the Government Committee for Religious Affairs about the situation of religions and beliefs and the state management of religions in Vietnam today, as well as orientations, tasks, and solutions for the coming time. Accordingly, the Party and State consistently pursue the policy of solidarity among religious followers. Preserving and promoting the positive values of tradition, strictly prohibiting discrimination against citizens on the basis of religion or belief. At the same time, it is forbidden to take advantage of religion and belief to engage in superstition, illegal activities, and activities that go against the policies of the State, incite division among the people, ethnic groups, cause unrest, and infringe upon national security.

In terms of propaganda orientation for the coming time, the Central Propaganda and Education Commission requested to propagate the 55th anniversary of the implementation of President Ho Chi Minh’s Testament (1969 – 2024) and the 55th anniversary of his passing (September 2, 1969 – September 2, 2024). Propagate the 79th anniversary of the August Revolution’s success (August 19, 1945 – August 19, 2024) and the National Day of the Socialist Republic of Vietnam (September 2, 1945 – September 2, 2024). Propagate the results of important foreign affairs activities of the leaders of the Party and State in the coming time.