Minister and Chairman of the Government Office Tran Van Son, Spokesperson of the Government chaired the press conference – Photo: VGP/Nhat Bac
On the afternoon of July 6 in Hanoi, the Government Office held a regular press conference for July 2024, providing information on the socio-economic situation in July and the first half of 2024.
Minister and Chairman of the Government Office Tran Van Son, Spokesperson of the Government chaired the press conference.
The press conference was attended by representatives of leaders of ministries, sectors, agencies and a large number of journalists from press agencies and media.
At the beginning of the press conference, the Spokesperson of the Government informed that in the morning of July 6, the Government held a regular meeting for July 2024 and an online conference with localities under the chairmanship of Prime Minister Pham Minh Chinh to summarize and evaluate the socio-economic situation in July, the second quarter and the first 6 months of 2024; the situation of implementing 3 National Target Programs; disbursement of public investment capital along with some other important contents; proposing key, focal and breakthrough tasks and solutions in the coming time.
The conference took place in the context that we have gone through the first half of 2024 with the international and domestic situation continuing to have many complicated and unpredictable developments.
The global economy in the first 6 months of the year
has gradually stabilized with some positive signals
such as: major economies grow positively, inflation continues to decline, global trade gradually recovers…; however, there are still many uncertainties even in large economies.
Domestically,
the economy continues to be affected by the
“double impact”
of unfavorable external factors and internal limitations and shortcomings…
GDP growth in the second quarter recovered strongly, reaching 6.93%, averaging 6.42% in the first 6 months
In that context, the Government and the Prime Minister have focused on directing; the levels, branches and localities have drastically, synchronously and effectively implemented the Resolution of the XIII Party Congress, the resolutions and conclusions of the Central Committee, the Politburo, the Secretariat, the National Assembly, the Government, and the directions of the Prime Minister in the spirit of the theme of 2024:
“Discipline, responsibility, proactive, timely, accelerating, creative, effective and sustainable”
.
Discussing at the meeting, the leaders of the Government, ministries, branches and localities unanimously assessed that: With the drastic participation of the entire political system under the leadership and direction of the Central Executive Committee, and directly and regularly of the Politburo, the Secretariat, headed by Comrade General Secretary Nguyen Phu Trong; the coordination and close coordination of the National Assembly and the agencies in the political system; especially the drastic and focused direction and administration of the Government, the Prime Minister, the levels, branches and localities; the support and active participation of the people and the business community; the support and assistance of international friends, in the first 6 months of the year,
the economy
in general
has recovered
to the pre-Covid-19 pandemic level and continues to show positive signs
,
the following months are higher than the previous months, the following quarters are better than the previous quarters;
averaging 6 months with many important results, higher than the same period in most fields with 11 outstanding results.
One is,
GDP growth in the second quarter recovered strongly, reaching 6.93%, averaging 6.42% in the first 6 months
,
much higher than the same period in 2023 (
3,
84
%) and exceeding the scenario in Resolution 01 (
5.5-6
%). All
3 sectors
of agriculture, industry and services grew well (Agriculture increased by 3.38%; industry and construction increased by 7.51%; services increased by 6.64%).
Two is,
macro economy continues to be maintained stable, inflation is under control, major balances are guaranteed
.
The consumer price index (CPI) averaged 6 months up by 4.08% (core inflation increased
2.75
%).
Energy security, food security is guaranteed (Rice export reached over 4.6 million tons, turnover of nearly 3 billion USD, up 10.4% and 32% over the same period); basically ensuring the balance of labor supply and demand.
Strong export growth, a trade surplus of 11.63 billion USD
Three,
exports continue to increase
strongly, with a large trade surplus, contributing to ensuring the balance of payments.
Total export turnover in the first 6 months increased by 14.5%; imports increased by 17%; trade surplus of 11.63 billion USD.
Four,
the fields of services and tourism have strongly recovered.
Total retail sales of goods and service revenue in the first 6 months increased by 8.6%. The number of international visitors in the first 6 months reached over 8.8 million arrivals, up 58.4% over the same period in 2023 and up 4.1% over the same period in 2019 (before Covid-19).
Five is,
the financial situation – State budget continues to improve markedly
.
Total state budget revenue in the first 6 months reached 60% of the estimate for the year, up 15.7% over the same period. Public debt, government debt, national foreign debt and state budget overspending are well controlled, much lower than the prescribed limit.
Five is,
investment in development continues to achieve positive results, creating a driving force for economic growth
. Total social investment capital in the second quarter increased by 7.5%; averaging 6 months increased by 6.8% (In which state capital investment increased by 4.8%; non-state investment increased by 6.7%, FDI investment increased by 10.3%).
Disbursement of public investment capital reached 29.39% of the plan. FDI attraction in the first 6 months reached 15.19 billion USD, up 13.1%; realized FDI capital reached 10.84 billion USD, up 8.2% (the highest in the past 5 years).
Seven is,
business development continues to grow
.
There were 80,500 newly established enterprises in the first 6 months, up 6.1% and 39,100 businesses resumed operation, up 3.9% over the same period.
Eight is,
the fields of
culture,
social affairs are paid attention;
social security
is guaranteed;
people’s lives
are improved
.
In the second quarter, 95.1% of households assessed that they had stable or higher income than in the same period. The average income of laborers in the first 6 months reached 7.5 million VND/month, up 7.4% over the same period.
Up to now, 21,300 tons of rice have been supported for hunger elimination; more than 26.2 million free health insurance cards have been issued. Cultural, festival and sports activities were held jubilantly, safely and healthily.
Nine is,
administrative reform is paid attention to,
especially the reduction and simplification of administrative procedures
; anti-corruption and negativity
are promoted.
Ten is,
politics – society is stable
;
national defense – security is strengthened;
foreign affairs and international integration are promoted.
Successfully organize many foreign activities of Party and State leaders; promote economic diplomacy; the country’s prestige and position continue to be enhanced.
Eleven is,
effectively implementing increased revenue, saving expenses, restructuring public investment
to have about 700 trillion VND to implement salary increase with a suitable roadmap, which is highly appreciated by public opinion and salary recipients.
Many international organizations and experts continue to appreciate the results and prospects of the Vietnamese economy
.
ADB, Standard Chartered, HSBC forecast Vietnam’s GDP growth in 2024 to be about 6%.
IMF assessed Vietnam as the only Southeast Asian representative in the top 10 with a growth forecast of 6.4% in the period of 2024-2029.
Business environment ranking increased by 12 places; Global Innovation Index ranking increased by 2 places;…
Minister and Chairman of the Government Office Tran Van Son, Spokesperson of the Government provides information on the socio-economic situation in July and the first 6 months of 2024 at the press conference – Photo: VGP/Nhat Bac
Efforts to achieve growth of about 6.5-7% in the third quarter
Along with affirming the achievements
are fundamental, the opinions at the meeting also assessed that our country still has
existences, limitations, difficulties and challenges that need to be focused on coping with, handling and overcoming
, including:
(1) The pressure of leadership and administration is still high, especially in controlling inflation, exchange rates, and stabilizing the macro-economy due to external impacts.
(2) Economic growth in some localities is still low.
(3) The business situation in some fields is still difficult.
(4) The rate of disbursement of public investment capital in the first 6 months is lower than that of the same period.
(5) The real estate market has initially stabilized, but difficulties and problems are still slow to be resolved.
(6) Some ministries and agencies have not yet ensured the time limit for submitting draft laws; there is still a situation of slow issuance of documents guiding the laws that have taken effect.
(7) The lives of a part of the people are facing difficulties…
Concluding the meeting, on the basis of analyzing the causes, drawing lessons and forecasting the international, regional and domestic situation in the coming time, the Prime Minister emphasized the view of leadership and administration: Determined to overcome limitations and shortcomings, overcome difficulties and challenges; strive to achieve the highest results in implementing the goals, targets and tasks in 2024; maintain the momentum and momentum for development in 2025, successfully fulfilling the goals of the XIII Congress of the Party.
Accordingly, the Prime Minister set the goal: Strive to achieve growth of about 6.5-7% in the third quarter and higher in the fourth quarter of 2024; maintain macroeconomic stability; keep inflation below 4.5%; ensure major balances and have a surplus; ensure monetary and financial security of the country, maintain national defense and security, political stability, social order and safety, promote foreign affairs and international integration.
Continue to implement the exemption, reduction, extension of the time limit for tax, fee, charge and land rent payment
The Prime Minister pointed out key tasks and solutions, including:
(1) Implement synchronously, drastically and effectively the tasks and solutions set out in the fields according to the Conclusion of the Central Committee, the Politburo, the Key Leaders, the Resolutions of the National Assembly, the Government.
(2) Continue to prioritize promoting growth in association with maintaining macroeconomic stability, controlling inflation, ensuring the major balances of the economy.
Conducting an open and reasonable fiscal policy, focusing on key points, focusing on creating favorable conditions for the implementation of a proactive, flexible, timely and effective monetary policy. Tightening financial and state budget discipline, strengthening state budget revenue management, saving state budget expenditure.
Promote digital transformation, use e-invoices, and prevent tax loss.
Continue to implement the exemption, reduction, extension of the time limit for tax, fee, charge and land rent payment; review difficulties and obstacles, promote the efficiency of the real estate, corporate bond and securities markets. Ensure adequate supply of electricity, gasoline and oil for production and business and consumption; resolutely not to let electricity, gasoline and oil, food and foodstuffs be shortage.
(3) Strongly promote the disbursement of public investment capital, 03 National Target Programs. Continue to promote the activities of the 5 Working Groups of the Prime Minister and 26 Working Groups of the Government members. Speed up the progress of key infrastructure projects.
Build and organize well the emulation program of 500 days of effort to complete the highway projects, towards the 80th anniversary of the founding of the country and the 50th anniversary of the liberation of the South.
(4) Focus on making
