Prime Minister stresses 2024 growth, inflation targets

Prime Minister Pham Minh Chinh on June 8 called for greater efforts to keep the 2024 growth rate at the upper limit of the 6-6.5% target, and inflation at the lower of the 4-4,5% target, given the context that there are more challenges than opportunities.

Chairing a meeting between permanent Cabinet members and representatives of ministries and agencies, the leader stressed the need to ensure macroeconomic stability and major economic balances, and control budget overspending as well as public, Government and foreign debts.

Flexible direction, innovation, “thinking big, acting bold” and policy harmony will work in the present context, he continued, asking ministries and agencies to follow these instructions.

The ministries and agencies were also urged to renew the traditional growth drivers of investment, export and consumption, while promoting new engines like regional connectivity, digital economy, green economy, circular economy, and innovation, along with emerging industries such as semiconductors and Artificial Intelligence (AI).

The PM spoke of other tasks like accelerating public investment disbursement, and the implementation of national target programmes, and the 120 trillion VND (4.72 billion USD) housing credit package, and speeding up key infrastructure projects.

A steering committee should be established soon to review and handle bottlenecks, he said, requesting the review and perfection of institutions, especially regulations relating to public investment, public-private partnership and tax, based on which a legal document should be issued to amend many laws.

Chinh asked the circuit-3 500kV transmission line linking Quang Trach in the central province of Quang Binh and Pho Noi in the northern province of Hung Yen to be completed before June 30, and called for efforts to soon have the European Commission (EC)'s “yellow card” warning against Vietnamese seafood removed.

More attention should be paid to social welfare, national defence and security, external affairs and the communications work, he said. /.