On the afternoon of February 5, 2025, in Hanoi, the Government Office held its regular press conference for January 2025. This was also the first press conference after the Tet holiday of the Year of the Snake. Minister and Chairman of the Government Office Tran Van Son, Spokesperson of the Government, chaired the press conference.
POSITIVE RECOVERY TREND IN MANY FIELDS
Regarding the socio-economic situation in the first month of 2025, Minister Tran Van Son said that at the regular Government meeting in January 2025, held on the morning of February 5, the Government unanimously assessed that despite having fewer working days than the same period last year, the socio-economic situation in January 2025 continued to show positive recovery trends with many important and remarkable results in various fields.
First, the Tet holiday of the Year of the Snake in 2025 took place in a joyful, warm, and healthy atmosphere. Everyone was able to celebrate the holiday. More than 13.5 million people received support and gifts with a total budget of nearly VND 8,000 billion. In particular, 3.8 million people who were under social protection, the elderly, children in difficult circumstances, and people from near-poor households received support and gifts. The Government provided more than 6,600 tons of rice to people in need. Many localities actively implemented programs to eliminate temporary and dilapidated houses.
The Prime Minister has issued the 2025 Work Program with 468 specific projects, focusing on directing the implementation with the motto: “Discipline and responsibility; proactive and timely; streamlined and effective; accelerate and breakthrough.”
Second, the macro-economy continued to be stable, inflation was controlled, and major balances were ensured. The consumer price index (CPI) increased by 3.63% over the same period. The monetary market and exchange rates remained basically stable, and lending interest rates continued a downward trend. State budget revenue reached nearly VND 276,000 billion, accounting for 14% of the estimate and an increase of 3.5% over the same period. The trade balance surplus was USD 1.23 billion. Energy and food security was ensured, and labor supply basically met demand.
Third, there were many positive signals in key sectors. Specifically, the industrial production index (IIP) increased by 0.6% over the same period, of which the processing and manufacturing industry increased by 1.6%. Agriculture, forestry, and fishery production developed stably, ensuring demand during the Tet holiday. Trade and services were quite vibrant, with total retail sales of goods and service consumption revenue in January 2025 increasing by 9.5% over the same period.
Fourth, investment in development continued to achieve positive results. Registered FDI capital reached USD 3.55 billion, up 21.8%. Actual FDI fulfillment reached USD 1.51 billion, up 2% over the same period.
Fifth, culture and social sectors were given special attention. Cultural and sports activities to celebrate the Party and the Spring were well prepared, ensuring compliance with traditions and customs. People’s lives continued to improve.
Sixth, politics and society remained stable, national defense and security were maintained, and social order and safety were ensured. Corruption, negative behavior, and wastefulness prevention were promoted. Traffic accidents decreased across all three criteria.
Seventh, external affairs and international integration were promoted and achieved many important results. Negotiations and signing of international treaties and agreements were successfully carried out.
Eighth, international organizations continued to give positive assessments of Vietnam’s economic growth prospects.
Along with the achievements, the Government members frankly pointed out existing shortcomings, difficulties, and challenges that need to be addressed. These include the pressure on macroeconomic management, inflation, exchange rates, and interest rates; fierce strategic competition; the impact of policies of major economies; slow public investment disbursement without significant improvement; unstable growth in some sectors and areas; difficulties in production and business activities in some fields; and the challenging lives of a part of the population, among others.
DETERMINED ACTIONS WITH NEW ZEAL AND IMPETUS TOWARDS ACHIEVING THE SET GOALS
Based on the identification of causes and lessons learned, as well as the analysis of the international, regional, and domestic situation, Minister Tran Van Son said that the Prime Minister had requested ministries, sectors, and localities to have high determination, great efforts, and decisive actions with new zeal and impetus from the very first days and months of 2025.
Firstly, it is necessary to synchronously and effectively implement the Conclusions and Resolutions of the Central Committee, the Politburo, the National Assembly, and the Government, especially Conclusion No. 123 of the Central Committee on the Proposal to supplement and adjust the socio-economic development plan for 2025, with a growth target of 8% and above. This includes the Government’s Resolutions No. 01 and No. 02, as well as the urgent issuance and implementation of action programs and plans according to assigned tasks. Careful preparation of content for the upcoming 9th extraordinary session of the 15th National Assembly is also crucial.
Secondly, continue to improve the institutional system with the spirit of “breakthrough in breakthrough”; streamline the apparatus and improve its effectiveness and efficiency; promote administrative reform and digital transformation. It is imperative to promptly review, supplement, and perfect legal regulations that are no longer appropriate or overlapping, with the principle of solving problems wherever they arise and at whatever level they are, with the initiative to propose, amend, and perfect them. The serious and efficient implementation of the organization and streamlining of the apparatus according to Resolution No. 18-NQ/TW is essential. Attention should also be given to implementing the Government’s action program to realize Resolution No. 57 on the breakthrough in science and technology development, innovation, and national digital transformation.
Thirdly, continue to prioritize promoting growth and focus on renewing traditional drivers while promoting new ones.
Specifically, regarding investment, it is crucial to promote the disbursement of public investment capital and national target programs from the beginning of the year, especially strategic transport infrastructure projects, airports, seaports, expressways, inter-regional, and inter-provincial projects. Aim to complete key national projects and achieve at least 3,000 km of highways and over 1,000 km of coastal roads by the end of 2025. Strengthen investment promotion and attract large-scale FDI projects with advanced technology, especially in the processing and manufacturing industries, electronics, semiconductors, and hydrogen…
In terms of exports, promote harmonious trade and expand export markets, focusing on diversifying export markets and products. Effectively exploit signed free trade agreements (FTAs) and explore new and potential markets.
Concerning consumption, stimulate consumer demand, promote e-commerce, and encourage cashless payments. Strengthen the “Vietnamese give priority to using Vietnamese goods” movement. Implement synchronous solutions to attract domestic and international tourists.
Fourthly, vigorously and effectively promote new growth drivers and emerging sectors such as big data, cloud computing, optoelectronics, internet industry, Internet of Things, bio-industry, cultural industry, and entertainment industry…
Fifthly, maintain macroeconomic stability, control inflation, and ensure the major balances of the economy, with a target electricity growth rate of about 12.5-13%. Focus on proactively, flexibly, timely, and effectively managing monetary policy, coordinating it harmoniously with a reasonably expanded fiscal policy and other policies.
Effectively implement credit growth measures (striving for over 16%), directing credit to production and business areas, priority fields, and growth drivers. Control credit in high-risk areas and strive to reduce lending interest rates. Promptly guide and strive to save about 10% of regular expenditures in 2025 compared to the 2024 estimate to supplement investment in the Lao Cai – Hanoi – Hai Phong railway route.
Effectively carry out state budget collection tasks, ensuring proper, sufficient, and timely collection. Continue to research and propose policies to reduce taxes, fees, and charges for people and businesses.
Sixthly, pay attention to culture, social security, environmental protection, natural disaster prevention, and climate change response. Overcome the local labor shortage after Tet, ensuring no breaks in labor supply and demand. Focus on social security, ensuring that no one goes hungry, cold, or lacks food, clothing, medical care, or schooling.
Research and deploy credit packages for social housing. Strongly promote the “Joining hands to eliminate temporary and dilapidated houses nationwide in 2025” movement.
Create conditions and space for artists to create and operate in accordance with the law, promoting the development of the cultural and entertainment industries. Strengthen inspection, supervision, and management of festival activities, promptly detecting and strictly handling acts of taking advantage of relics, festivals, and beliefs for profit, as well as superstitious practices…
Seventhly, consolidate and strengthen national defense and security, maintain social order and safety, promote corruption prevention, wastefulness, and negativity, and improve the effectiveness of foreign affairs and international integration.
Eighthly, strengthen information and communication work, create social consensus, and contribute to successfully realizing the socio-economic development goals and tasks for 2025.
