Prime Minister chairs the July 2024 regular Cabinet meeting with a discussion agenda covering several important issues – Photo: VGP/Nhat Bac
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As per the agenda, the meeting discussed the socio-economic situation in July and the first seven months of the year, the allocation and disbursement of public investment capital, the Government’s direction and administration, and several key tasks for the coming period, among other important matters.
The meeting was attended by Vice President Vo Thi Anh Xuan, Deputy Prime Ministers, members of the Government, leaders of ministries, sectors, and Government agencies, as well as leaders of the Central Economic Commission, the National Assembly’s Economic and Finance-Budget Committees, and the National Assembly Office.
At the beginning of the meeting, the Government observed a minute of silence to pay tribute to the late General Secretary Nguyen Phu Trong.
In his opening remarks, Prime Minister Pham Minh Chinh emphasized that in July, the people and comrades across the country, along with international friends, mourned the passing of General Secretary Nguyen Phu Trong, an exceptional leader and a role model in studying and following President Ho Chi Minh’s thought, morality, and lifestyle. He dedicated his life to the nation and the people and embodied the qualities, talents, capabilities, and intelligence of the Vietnamese leadership during the renewal period. We organized a solemn, thoughtful, and safe state funeral for the late General Secretary.
The Prime Minister highlighted that millions of people bid farewell to General Secretary Nguyen Phu Trong on his final journey, and hundreds of countries sent condolences and delegations to attend the funeral in Vietnam, with over 1,000 international delegations paying their respects at Vietnamese embassies abroad. This not only affirmed the admiration and respect for General Secretary Nguyen Phu Trong but also demonstrated the high regard for our country’s stature and prestige, as affirmed by General Secretary Nguyen Phu Trong: “Our country has never had such a foundation, potential, stature, and international prestige as it does today.”
The Prime Minister pointed out that during his lifetime, General Secretary Nguyen Phu Trong always paid great attention to the Government’s activities and regularly provided guidance to the Government and the Prime Minister, even during his hospitalization in the final days of his life.
At the same time, on behalf of the Government, the Prime Minister expressed deep condolences and sympathies to the families of the victims who lost their lives in recent natural disasters, floods, and landslides.
In the past period, facing the urgent and constant requirements of the Party and the State, on August 3, the Central Committee unanimously elected Comrade To Lam, a member of the Politburo, President, former Minister of Public Security, and former member of the Government, as the General Secretary of the Central Committee of the Communist Party of Vietnam, with an absolute majority of 100% of the votes. On behalf of the Government, the Prime Minister warmly congratulated General Secretary and President To Lam.
Base salary increase with negligible inflation impact
Regarding some notable points of July and the seven-month period, Prime Minister Pham Minh Chinh assessed that, in general, the world situation continued to evolve complexly and unpredictably, with many challenges. There were three notable points:
Firstly, political fluctuations and fierce competition among major countries, with conflicts escalating in Ukraine, the Red Sea, and the Gaza Strip. Secondly, the global economy remained risky, showing signs of recovery but lacking robustness and evenness, with rising USD and gold prices, volatile crude oil, basic commodity, and transportation service prices, inflation not yet reaching target levels in many countries, and the Fed not cutting interest rates. Thirdly, global challenges included an aging population, labor shortages, resource depletion, climate change, and natural disasters, which had severe impacts.
Domestically, opportunities and favorable conditions coexisted with difficulties and challenges, but the latter outnumbered the former, especially since Vietnam is a developing country with a transitioning economy, a modest scale, high openness, and limited resilience.
In this context, thanks to the efforts of the entire Party, army, and people, the socio-economic situation in July continued its positive trend, achieving better results than in June, and the seven-month performance was better than the same period last year in most fields.
Growth was driven by all three sectors: industry, agriculture, and services. Macroeconomic stability was maintained, inflation was controlled, and major balances were ensured, resulting in a surplus. Sixty out of 63 provinces and cities recorded an increase in industrial production, a bright spot. Many long-standing problems were resolved.
Social security was guaranteed, and people’s lives were improved. Culture, sports, healthcare, education, and training received attention and achieved positive results. Efforts were made to build a righteous, active, and service-oriented Government, enhance administrative reforms, and strengthen corruption prevention and negative behavior control, contributing to consolidating and increasing the people’s trust in the Party and the State. National sovereignty was firmly protected, political security and social order and safety were ensured, external relations and integration were promoted, and the country’s prestige and position continued to be enhanced.
Notably, in July, we implemented a base salary increase, but inflation did not rise significantly.
Along with the achievements, we must also frankly acknowledge the existing limitations, shortcomings, and difficulties and challenges, such as persistent inflationary pressures, difficulties in production and business in some sectors, a high number of businesses withdrawing from the market, discipline and discipline not being strict at times, and civil servants and public employees fearing mistakes and shirking responsibilities. Security order in some areas was potentially complex, and the lives of a part of the people, especially in remote, border, and island areas, remained difficult.
The Prime Minister requested that the delegates focus on evaluating the implementation of tasks in July and the first seven months, identifying strengths and weaknesses, causes, and lessons learned, as well as creative, innovative, and effective approaches in practice. He also asked for insights into the situation in August and the coming period and proposed mechanisms, policies, and solutions, particularly in key areas, to create breakthroughs in August, the third quarter, and the remaining months of the year (in addition to the overarching tasks and solutions for the entire year outlined in Resolutions 01 and 02 for 2024). This includes preparing specific content and proposals for submission to the Politburo, the Party Central Committee’s Secretariat, and the 10th Plenum of the 13th Party Central Committee, as well as the 8th session of the 15th National Assembly.
“Should we vigorously remove obstacles related to institutions and focus on effectively implementing newly issued laws that have taken effect, such as the Law on Land, the Law on Housing, the Law on Real Estate Business, and the Law on Credit Institutions? Should ministries and sectors provide more specific guidance, localities be more proactive and active, and agencies perform their functions, tasks, and powers to better respond to policies? Should we focus on implementing key tasks, renewing the three traditional growth drivers, and promoting new growth drivers? However, the spirit is to clearly define ‘who does what, what is done, when it is done, how it is done, what results are achieved, and how effective it is,’ along with strengthening supervision, inspection, emulation and commendation, and timely handling of violations,” emphasized the Prime Minister.
