**Regular Government Press Conference for April 2024**
April 2024 Regular Government Press Conference – Photo: VGP/Tuan Dung
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Amidst the celebratory atmosphere leading up to the 70th anniversary of the historic Dien Bien Phu victory, the Government held its regular meeting for April 2024, chaired by Prime Minister Pham Minh Chinh. The meeting aimed to assess the socio-economic situation (SES) for April and the first four months of 2024, the implementation status of three national target programs (NTPs), and the disbursement of public investment capital, among other key issues. It also set out key tasks, solutions, and breakthroughs for the coming period.
During April and the year to date, global developments have continued to be rapid, complex, and unpredictable; political instability in several regions has escalated; and the global economy is projected to recover slowly. Domestically, opportunities, advantages, and difficulties and challenges are intertwined, but difficulties and challenges prevail.
In this context, the Government, ministries, sectors, and localities have focused on vigorously and flexibly implementing tasks and solutions in line with the Resolutions and Conclusions of the Central Committee, the Politburo, the Secretariat, the National Assembly, and the Government. This has included focusing on preparing for the 9th Central Committee Meeting and the 7th Session of the National Assembly, promoting institution building and law enforcement, and preparing for and coordinating activities leading up to the 70th anniversary of the historic Dien Bien Phu victory. In addition, efforts have been made to promote the development of strategic infrastructure and implement numerous international and foreign affairs activities.
In particular, the Prime Minister has signed five regional plans to complete all six SES regional plans in accordance with the Resolutions of the Politburo.
In their discussions at the meeting, Government leaders, ministries, sectors, and localities unanimously agreed that the SES in April continued to develop positively, generally better than in March and the first three months of the year. Overall, the first four months of 2024 achieved better results than the same period in 2023 in most areas.
Notably, the economy continued to maintain positive growth momentum in all three sectors: agriculture, industry, and services. Agriculture developed stably, with positive results in crop cultivation, livestock farming, and fisheries.
Industrial production in April increased by 0.8% compared to March and by 6.3% compared to the same period last year. Overall, it increased by 6% in the first four months (compared to a decrease of 2.5% in the same period last year). The service sector continued to grow significantly; the total retail sales of goods and consumer services revenue in April increased by 2% compared to March and by 9% compared to the same period last year. Overall, it increased by 8.5% in the first four months. The tourism sector has recovered strongly, with international visitors reaching 6.2 million in the first four months, an increase of 68.3% compared to the same period in 2023 and an increase of 3.9% compared to the same period in 2019 before the outbreak of the COVID-19 pandemic. The Purchasing Managers’ Index (PMI) reached 50.3 points in April, with a significant increase in new orders.
The macroeconomy is stable, and inflation is under control. The average Consumer Price Index (CPI) for the first four months increased by 3.93%. Interest rates for deposits and loans continued to decline, and the exchange rate was managed proactively, flexibly, and promptly.
Major balances are ensured.
After four months, the total state budget revenue is estimated to reach VND 733.4 trillion, equivalent to 43.1% of the annual estimate and a 10.1% increase compared to the same period last year. Public debt, government debt, national foreign debt, and the state budget deficit are well controlled and significantly below the prescribed limits, creating fiscal policy space.
Exports continued to trend positively, with a trade surplus, helping to ensure the balance of payments and stabilize the exchange rate. In the first four months, the total import-export turnover reached USD 238.9 billion, an increase of 15.2%, with exports increasing by 15% and imports increasing by 15.4%. The trade surplus reached USD 8.4 billion.
Rice exports reached over 3.2 million tons, with a value of USD 2.08 billion, an increase of 11.7% in volume and 36.5% in value compared to the same period last year. Energy security, food security, and the balance of labor supply and demand are ensured.
In addition, investment and development continued to achieve positive results, providing impetus for economic growth. The disbursement of public investment capital in the first four months reached 17.46% of the plan, higher than the same period last year (15.65%). Foreign direct investment (FDI) reached USD 9.27 billion, an increase of 4.5% compared to the same period last year. FDI disbursement reached USD 6.28 billion, an increase of 7.4% (and the highest in recent years).
Enterprise development continued to trend positively. In the first four months, 51,600 new enterprises were registered (an increase of 3.4% in the number of enterprises and 9.3% in registered capital compared to the same period last year); at the same time, more than 29,700 enterprises resumed operations, an increase of 2.4%.
The cultural and social sectors were given priority; social security was ensured; and people’s living standards improved. In April, 94.8% of households assessed their income as stable or higher than in the same period last year (an increase of 0.7% compared to March). In the first four months, nearly 18,500 tons of rice were provided to people in need.
Administrative reform was promoted, particularly in terms of cutting red tape and simplifying administrative procedures. Anti-corruption and anti-negligence efforts were intensified, contributing to strengthening public trust.
Political and social stability was maintained; national defense and security were upheld; social order and safety were ensured; and external relations and international integration were enhanced. The country’s prestige and position in the international arena have been elevated.
Many prestigious international organizations and experts continue to highly appreciate the results and prospects of the Vietnamese economy.
 Minister, Chairman of the Government Office Tran Van Son, Government Spokesperson, provides information on the SES in April and the first four months of 2024 – Photo: VGP/Tuan Dung
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In addition to acknowledging the achievements, the Government emphasized that there are still shortcomings, limitations, difficulties, and challenges that need to be addressed, handled, and overcome.
Firstly, there is increasing pressure on macroeconomic management and inflation control, particularly in terms of exchange rates and interest rates. Secondly, the number of enterprises withdrawing from the market remains high. Thirdly, the real estate market is initially stabilizing, but difficulties and obstacles are still being slowly addressed, and the legal bottlenecks have not been resolved; bad debts are increasing. Fourthly, over VND 32 trillion of public investment capital for 2024 has yet to be allocated. Fifthly, a number of people are still facing difficult living conditions; and natural disasters and climate change are developing complexly, particularly in the form of severe heat and drought in many localities. Sixthly, security, social order and safety, and crime in certain localities remain complex.
In conclusion, on the basis of identifying the causes, lessons learned, and analyzing the international, regional, and domestic situations, the Prime Minister outlined the key tasks and solutions for the coming period. Close coordination and thorough preparation are required for the 9th Central Committee meeting and the 7th Session of the National Assembly.
