The monetary market was basically stable, with lending interest rates beginning to go down and the liquidity of the banking system secured, the report said.

Prime Minister Pham Minh Chinh asked cabinet members to carefully analyse the regional and global situation and its impact on the domestic situation, make forecasts for March and beyond, and discuss advantages, opportunities, challenges, and appropriate solutions.

At this meeting the Government was expected to evaluate Vietnam’s socio-economic recovery and development, the allocation and disbursement of public investment, the implementation of three national target programs in the first two months of 2023, and discuss ways to improve the business and investment environment, develop the domestic market, and promote exports.

The Ministry of Planning and Investment reported newly-registered foreign direct investment hit 1.76 billion USD, a 2.8-fold rise, and the trade surplus was estimated at more than 2.8 billion USD in the first two months of this year.