Prime Minister Pham Minh Chinh Chairs the Regular Government Meeting for January 2025
Prime Minister Pham Minh Chinh. Photo: Nhat Bac
|
On February 5, Prime Minister Pham Minh Chinh chaired the regular Government meeting for January 2025, discussing important issues such as preparing for the possibility of a global trade war, the unpredictable world situation, and assigning growth targets to each locality.
In his opening remarks, Prime Minister Pham Minh Chinh mentioned that on February 3, the Standing Government had a meeting to evaluate the implementation of the Secretariat’s Directive and the Prime Minister’s instructions on organizing the Lunar New Year celebrations and ensuring the best conditions for people to welcome the Lunar New Year. The first regular Government meeting of 2025 will focus on assessing the results of January and outlining key tasks for February 2025 and the following months.
The Prime Minister requested the delegates to assess the global situation and its impact on Vietnam, as well as the direction and management of the Government, highlighting achievements and shortcomings. He also asked for an analysis of lessons learned, especially in monetary and fiscal policies, boosting growth drivers, ensuring social welfare, national defense, security, maintaining political stability, social order and safety, foreign affairs, and integration.
Recently, the Central Committee set a target of at least 8% GDP growth for 2025, creating momentum and setting the stage for double-digit growth in the following years. The delegates provided additional insights and suggestions to achieve this goal.
Regarding the target of at least 8% GDP growth for 2025, the Prime Minister instructed ministries, sectors, and localities to set new growth targets and submit them to authorized agencies for approval and implementation. At this meeting, the Government will approve and assign growth targets for each locality.
Moreover, the Prime Minister noted that the world and regional situations are highly unpredictable and directly impact Vietnam, especially in terms of exports, production and business activities, and macroeconomic stability. He requested the delegates to provide thorough forecasts and analyses of the situation for February and the following months, focusing on emerging issues such as the possibility of a global trade war, which could disrupt supply chains and shrink export markets. Based on these insights, he emphasized the need to propose solutions to ensure a swift and proactive response, seizing opportunities and maintaining the current development momentum.
The Prime Minister suggested several solutions, including continuing to rejuvenate traditional growth drivers and promoting new ones, as well as expanding, diversifying, and exploring new markets, products, and supply chains, particularly in the Middle East and South America.
He also instructed the Minister of Industry and Trade to promptly report to the Government and propose to the National Assembly at the upcoming session on matters related to the mechanism and policy for constructing the Ninh Thuan nuclear power plant. Additionally, the Minister should expedite the completion of guidelines on electricity trading, taking into account the maximum possible contributions from businesses and citizens.
The Minister of Transport was directed to promptly report to the Government and submit to the National Assembly matters related to the implementation of the railway project connecting Vietnam with China and addressing bottlenecks in several road BOT projects.
Emphasizing the need to resolutely remove institutional bottlenecks, the Prime Minister instructed ministers and sector leaders to report monthly on legal obstacles in their respective areas, clearly identifying the issues, their locations, and who is responsible for resolving them. This information will enable the Government to propose solutions to competent authorities for consideration and decision-making.
Furthermore, the Prime Minister requested ministries, sectors, agencies, and localities to vigorously implement Resolution 18 of the Central Committee on streamlining the organizational apparatus, ensuring uninterrupted work, and actively directing efforts from the beginning of the year toward production and business activities. He also stressed the importance of striving to complete the tasks and goals set for each month and quarter.
Other key targets mentioned by the Prime Minister included completing at least 3,000km of highways this year, opening the Tan Son Nhat Airport T3 terminal on April 30, substantially completing the first phase of the Long Thanh Airport project in 2025, and preparing for the successful organization of Party Congresses at all levels, leading up to the 14th National Party Congress.
– 10:50, 02/05/2025
“Elevating Vietnam-Laos Cooperation: Aiming for a Transformative, Focused, and Impactful Partnership”
Within the framework of his visit to Laos and co-chairing the 47th meeting of the Vietnam-Laos Inter-governmental Committee, on the morning of January 10, in Vientiane, Prime Minister Pham Minh Chinh met with Thongloun Sisoulith, General Secretary of the Lao People’s Revolutionary Party Central Committee and President of Laos.
“Australia Aims to Be Vietnam’s Top Partner Across Multiple Sectors”
Emphasizing Australia’s keen interest in fostering strong ties with Vietnam, the Ambassador remarked that the bilateral relationship has been flourishing at an impressive pace, akin to achieving “in one year what would normally take ten.”
The Prime Minister: Transforming Perceptions of Social Housing Quality
On December 22, Prime Minister Pham Minh Chinh attended the groundbreaking ceremony of the Golden Square Lao Cai social housing project in Bac Leng ward, Lao Cai city, during his working visit to Lao Cai province.
“Setting the Stage for Double-Digit Growth in the 2026-2030 Period”
“Setting the tone for the government meeting on December 7th, Prime Minister Pham Minh Chinh emphasized the need to strive for a GDP growth rate of over 7% in 2024 and approximately 8% in 2025. These ambitious targets are designed to provide a strong foundation and momentum for the 2026-2030 period, with a goal of achieving double-digit growth.”
UOB: Vietnam’s Central Bank Isn’t Under Much Pressure to Rush Monetary Easing
With the economy booming in 2024 and continuing its strong growth into 2025, the State Bank of Vietnam (SBV) is under no immediate pressure to loosen its policies.
