Prime Minister warns of possible global trade war, pushes for preparation

Prime Minister Phạm Minh Chính speaks at the Government regular meeting in Hà Nội on Wednesday. — VNA/VNS Photo Dương Giang

Prime Minister Phạm Minh Chính on Wednesday urged the country's leaders and Government bodies to prepare to respond to a possible global trade war, which could affect Việt Nam’s exports.

He was speaking at a regular Government meeting that took place in Hà Nội.

Given recent unpredictable developments in international affairs, the Government leader warned of the possibility that a trade war could take place, disrupting the global supply chain and narrowing markets for Vietnamese exports.

“We need to consider potential scenarios and prepare solutions to respond to them swiftly and effectively,” he said. “We must absolutely avoid being passive, caught off guard, or missing good opportunities and momentum for growth.”

To maintain and boost economic growth, the PM suggested reinforcing traditional growth drivers, promoting new drivers promoted, expanding markets, and persifying products.

The Middle East and South America are markets that Việt Nam should pay attention to in the future, he said.

To achieve a GDP growth rate of 8 per cent this year, the PM said each ministry, sector and locality needs to set its own growth targets and have them approved by the Government.

He assigned the Ministry of Industry and Trade to prepare a proposal for the development of the Ninh Thuận nuclear power plant and present it to the National Assembly (NA)’s extraordinary meeting at the end of this month.

He also directed the Ministry of Transport to report to the NA its plans to develop the Lào Cai - Hà Nội - Hải Phòng railway, which will connect Việt Nam with China, and tackle issues related to a number of build-transfer-operate (BOT) road projects.

The PM also requested that ministries, sectors, agencies and localities continue implementing the Party Central Committee's Resolution 18 on streamlining the apparatus, and ensure that the process is not disrupted.

"Production and business activities should resume immediately at the start of the year," he added.

The country should aim to build at least 3,000 kilometres of expressways this year, the PM said. Terminal 3 at Tân Sơn Nhất Airport in HCM City should be built by April 30, and the first phase of the Long Thành Airport development project should be finished this year.

The Government leader also urged the rapid construction of social housing and the eradication of temporary and dilapidated houses by the end of the year.

Party congresses should be held at all levels to prepare for the 14th National Party Congress, he said.