On the afternoon of September 12th, Prime Minister Pham Minh Chinh chaired a meeting to discuss flexible, timely, and effective solutions to address the complex external developments and current challenges in the region and globally.
The Prime Minister emphasized the need for timely, flexible, and effective responses to external impacts and challenges. Photo: Nhat Bac
After reviewing reports and opinions, Prime Minister Pham Minh Chinh concluded that the meeting unanimously acknowledged the current difficulties and external challenges affecting economic management.
The Prime Minister outlined the overarching goal for the upcoming period: to stabilize the macroeconomy, control inflation according to set targets, and promote growth between 8.3% and 8.5% in 2025. This includes ensuring major balances, stable development, and improving the material and spiritual well-being of the people for a happier and more prosperous life.
The government leader instructed ministries and agencies to continue implementing their assigned tasks and solutions as directed by General Secretary To Lam and other key leaders. This includes resolutions from the regular government meeting in August 2025 and recent telegrams from the Prime Minister.
Regarding specific tasks and solutions, the Prime Minister called for close and effective coordination between monetary and fiscal policies. Fiscal policy should be better utilized to support monetary policy.
Governor of the State Bank of Vietnam, Nguyen Thi Hong, speaking at the meeting. Photo: Nhat Bac
Monetary policy should prioritize exchange rates, interest rates, inflation control, growth promotion, risk management, and enhanced inspection and supervision. Funds must be directed toward production, business, growth drivers, and priority sectors.
The Prime Minister directed the continued development and improvement of databases and various markets, including capital, real estate, science and technology, securities, commodities, and import-export markets, in accordance with market principles.
For the gold market, the Prime Minister emphasized development in line with Decree 232 issued by the Government on August 26, 2025. Efforts should be made to upgrade the securities market and pilot the encrypted asset market under Resolution No. 05 issued on September 9, 2025. The Ministry of Finance and the State Bank of Vietnam were tasked with urgently issuing guidelines for Decree 232 and Resolution 05.
Regarding the real estate market, the Prime Minister called for increasing supply, promoting social housing development, and aiming to complete 100,000 social housing units this year. Selective FDI attraction in priority sectors was also emphasized.
The Prime Minister stressed the importance of disbursing 100% of the 2025 public investment capital plan. This includes strengthening promotion, inspection, and oversight, addressing challenges in the two-tier local government system, enhancing creativity and service for the people, and fostering self-reliance and resilience, especially at the commune level. Inspection and supervision of public service performance at all levels were also highlighted to improve accountability and encourage proactive problem-solving among officials.
The Prime Minister instructed Deputy Prime Ministers and government members to continue working with local authorities to inspect and promote socio-economic development, ensure smooth and synchronized operation of the two-tier local government system, and facilitate public investment disbursement.
“The State Bank’s ‘Triple Pronged Attack’ to Curb Rising Exchange Rates”
Amidst the backdrop of a steadily rising USD/VND exchange rate in late August and early September, the State Bank of Vietnam has implemented a series of measures to cool down the market. However, upward pressure on the exchange rate remains significant, despite the near-certainty of a Fed rate cut at its September meeting.
Deputy Prime Minister: Tighten Control Over Private Corporate Bond Issuances
The Deputy Prime Minister has instructed the Ministry of Finance to prioritize the regulation and oversight of margin lending activities, ensuring stringent control over the issuance of private corporate bonds. Additionally, the Ministry is tasked with urging businesses to promptly settle bond payments as they mature.
Prime Minister Criticizes 29 Ministries, Agencies, and 12 Localities for Below-Average Disbursement Rates
According to reports, 18 ministries, central agencies, and 30 localities have yet to fully allocate the capital plans assigned by the Prime Minister, totaling nearly VND 38,400 billion. By the end of August 2025, 29 ministries, agencies, and 12 localities recorded disbursement rates below the national average.
“Steady as She Goes”: Prime Minister Emphasizes Macroeconomic Stability for Sustainable Growth
On September 12, Prime Minister Pham Minh Chinh chaired a meeting, emphasizing the need for agile responses to external impacts, maintaining macroeconomic stability, curbing inflation, and striving for a growth rate of 8.3-8.5% in 2025.
“Unwavering Resolve: Pushing Boundaries, Surpassing 2025 Targets.”
The government urges ministries, sectors, and local authorities to focus on effective leadership and implementation; to maximize opportunities and advantages, swiftly addressing any challenges or obstacles that arise, and striving to surpass expectations. The aim is to achieve, and even exceed, this year’s targets and indicators, setting the stage for robust double-digit economic growth in 2026 and beyond, through to 2030.
