On May 8, Prime Minister Pham Minh Chinh chaired a government meeting to discuss tasks and solutions to promote economic growth, targeting an ambitious 8% growth rate in 2025.
Prime Minister Pham Minh Chinh concludes the meeting. Photo: VGP
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In his concluding remarks, the Prime Minister emphasized that achieving an 8% growth rate in 2025 and maintaining a double-digit growth trajectory in the following years is an extremely challenging task. However, it is a mandate that comes from the heart and mind, a responsibility to the nation, the people, and future generations.
To achieve this goal, the Prime Minister instructed a focus on accelerating public investment disbursement and implementing key national projects and infrastructure developments. These include establishing financial centers, free trade zones, and transportation networks, as well as exploring nuclear energy options.
International economic cooperation was highlighted as a critical factor in achieving the growth target. The Prime Minister particularly emphasized the need to vigorously promote trade and investment with key partners, including China, the United States, Europe, Japan, and South Korea.
To enhance these relationships, the Prime Minister directed attention to improving the competitiveness, transparency, and resilience of the economy. He also stressed the importance of proactively balancing trade and promoting the signing of investment protection agreements with these partners.
The government will continue to closely monitor global developments and respond appropriately, especially given the changing economic and tax policies of other countries.
Additionally, the Prime Minister instructed the strengthening of political, diplomatic, and economic relations to boost economic, trade, and investment cooperation. He emphasized the priority of promptly and satisfactorily addressing the concerns of international partners, demonstrating Vietnam’s goodwill.
The government will develop plans to balance trade with major partners, focusing on mutual support and maximizing the benefits of existing FTAs. They will also explore new FTAs to diversify markets and supply chains.
A review of tax policies, particularly with major partners, will be conducted to ensure they align with mutual interests. The Prime Minister also instructed the relevant ministries and sectors to propose initiatives to enhance cooperation in high-tech industries, innovation, and digital transformation.
Local authorities are tasked with proactively resolving any outstanding issues related to foreign investment projects, especially those involving significant trade partners.
To facilitate foreign businesses’ expansion in Vietnam and their integration into global supply chains, the government will create favorable conditions and streamline processes related to labor permits and visas.
Transparency and anti-fraud measures in economic, trade, and investment activities will be strengthened, accompanied by proactive communication efforts to showcase Vietnam’s commitment to economic cooperation, especially with traditional and major partners.
– 20:23 08/03/2025
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