 The government's online meeting with localities on the socio-economic situation in the first quarter of 2022. (Photo: qdnd.vn) |
Prime Minister Chinh said that in the first quarter, Vietnam’s economy has been directly impacted by the armed conflict in Ukraine, the high inflation in some countries, and the increasing price of input materials, oil, and logistics service.
There are also problems related to the real estate market, the stock market, business bonds, the environment, smuggling, and trade fraud.
Under the leadership of the Party Central Committee, the Politburo, and the Government, and with the support and participation of the public and businesses, Vietnam has gained remarkable socio-economic achievements. The COVID-19 pandemic has been controlled, with a decreasing number of serious cases and fatalities. The economy has recovered quickly, with many localities recording growth rates of more than 10%. The macro-economy, inflation, the monetary market, and bank interest rates have been stable and major economic balances have been maintained. Foreign investment was strong. 60,000 businesses began operation or reentered the market. Trade and services have revived. Social security programs have spent 3.5 billion USD to help 48.6 million people and 740,000 employers.
 Prime Minister Pham Minh Chinh addresses the government's online meeting with localities. (Photo: Duong Giang) |
National independence, sovereignty, and territorial integrity have been maintained. Politics, security, social order, and safety are stable.
External relations and international integration have been enhanced and effective.
These achievements can be attributed to ministries, sectors, and localities seriously implementing the guidelines, resolutions, and directives of the Party, the National Assembly, and the Government.
Officials, the public, and businesses in all localities have made an effort to regain momentum. Close coordination between ministries, sectors, and localities has generated better results.
Prime Minister Chinh pointed out the remaining challenges: the lingering COVID-19 pandemic, inflation pressure, slow disbursement of public investment, and the risk of bad debts. The stock market, real estate, and corporate bonds also have potential risks. Housing for workers in some places remains a problem. Natural disasters can happen unexpectedly.
Mr. Chinh asked sectors and localities to focus on 12 groups of solutions. Vietnam will continue to implement resolutions of the Party Central Committee, particularly the conclusion of the 4th session of the 13th tenure, the program on COVID-19 prevention and control, the national program on socio-economic recovery and development, and the government’s resolutions on accelerating production, trade, and renewal. Other important tasks are stabilizing the macro-economy, controlling inflation, ensuring economic balance, speeding up public investment disbursement, and resolving obstacles for production and trade.
Free trade agreements should be fully exploited to expand export markets. Vietnam needs to restructure and improve the productivity, quality, efficiency, competitiveness, and resilience of the economy.
Mr. Chinh urged ministries and localities to boost digitalization, the digital economy, the green economy, and the circular economy, actively respond to climate change, and realize Vietnam’s COP 26 commitment. Culture, education, social security, and people’s lives should be promoted in any circumstance.
The Prime Minister asked the nation to quickly restore the economy, particularly tourism. Vaccination, especially for children from 5 to 12 years old, should be carried out promptly. Labor supply should keep up with demand. Administrative reforms should be continued.
He asked functional agencies to step up inspection, investigation, prevention, and prosecution of corruption and other negative phenomena. Loopholes in laws, mechanisms, and policies should be identified and adjusted to reduce violations.
Independence, sovereignty, and territorial integrity must be protected, and political stability, social order, and public safety must be maintained.
Communications should be enhanced to create social consensus, fight misinformation on all platforms, open venues to exchange ideas on socio-economic development, improve people’s cultural and material life, and promote Vietnamese culture.
Prime Minister Chinh expressed his belief that in the 2nd quarter Vietnam will prosper even more.