Virus prevention, economic recovery efforts are effective: PM

Prime Minister Nguyen Xuan Phuc said on October 2 that the implementation of the dual goal of epidemic prevention and economic recovery has brought about initial encouraging results, therefore creating the prerequisite for the national economy to fully recover by the end of the year.

Addressing a regular monthly Cabinet meeting for September, PM Phuc noted that “the situation is getting better and better”, with the national economy showing signs of a gradual recovery, posting an estimated growth of 2.62% during the third quarter of the year.

“This proves our efforts have paid off given the fact that many economies in Southeast Asia have attained negative growth due to the impact of the novel coronavirus pandemic,” said PM Phuc. Indeed, the figures for the year’s third quarter are set to pave the way for the country to achieve positive growth throughout the entirety of the year.

Alongside recording considerable economic growth, the PM also touched upon the major positive economic indicators that have been seen over the previous nine months. They include a record trade surplus of US$17 billion and foreign direct investment of US$21 billion, while inflation has been kept at a relatively low rate.

Furthermore, the Government leader also pointed out that September’s industrial production has enjoyed a gradual recovery, raising hopes of a major leap forward ahead in the year’s fourth quarter. In addition, trade, services, and sales have also picked up, largely as a result of a high consumer purchasing demand.

Whilst the COVID-19 pandemic has taken its toll on all economies globally, including Vietnam, the prolonged nature of the pandemic, coupled with the resurgence of the virus in late July, has forced the Government to come up with a new strategy of epidemic prevention and economic recovery, dubbed a dual goal.

Thanks to the Government’s efforts, the country has successfully brought the disease under control, with no new locally transmitted infections detected over the past 30 days. All economic, business, and tourism services have gradually returned to normal. At present, Vietnam is starting to reopen international commercial flights to destinations that have brought the virus under control.

Despite these positive signs, PM Phuc stated that growth remains low in comparison to the country’s potential, as well as below expectations that were set earlier this year. He therefore asked Cabinet members to examine the current situation and put forward solutions aimed at stimulating the local economy in the last quarter of the year and supporting the realisation of tasks for next year and beyond.

The PM also reminded localities of the possibility of a resurgence of the virus over the winter months and asked them to remain vigilant in all circumstances.

Source: VOV
vov.vn

Related News

Prime Minister directs the development of digital transformation projects for ministries, branches and localities

Prime Minister directs the development of digital transformation projects for ministries, branches and localities

VCN - The Prime Minister issued Directive No. 34/CT-TTg dated September 16, 2024 on developing digital transformation projects for ministries, branches and localities.
Prime minister directs to boost consumption, support production and business, and develop the domestic market

Prime minister directs to boost consumption, support production and business, and develop the domestic market

VCN - Prime Minister Pham Minh Chinh has recently signed Directive No. 29/CT-TTg dated August 27, 2024, on stimulating consumption, supporting production and business, and developing the domestic market.
Economic groups and corporations increase revenue and profit

Economic groups and corporations increase revenue and profit

VCN – In the first half of 2024, the business situation of the state-owned enterprise sector continued to achieve many positive results. Faced with the tasks in the remaining time of the year, the business sector needs to be more determined to overcome shortcomings and limitations, and seek breakthrough opportunities in production and business.
Prime Minister

Prime Minister's telegram promoting growth, controlling inflation, and stabilizing the macroeconomy in July and the third quarter of 2024

VCN - Prime Minister Pham Minh Chinh has just signed and issued Official Dispatch No. 71/CD-TTg dated July 21, 2024 on key tasks and solutions to promote growth, control inflation, and stabilize the macro economy in July and the third quarter of 2024.

Latest News

HCM City set to welcome fresh wave of US investment

HCM City set to welcome fresh wave of US investment

Ho Chi Minh City is poised to attract a new wave of investment from US enterprises, with numerous projects proposed in key sectors.
Party leader’s Malaysia visit highlights Vietnam’s ASEAN-centric approach: Thai newspaper

Party leader’s Malaysia visit highlights Vietnam’s ASEAN-centric approach: Thai newspaper

The official visit to Malaysia from November 21-23 by General Secretary of the Communist Party of Vietnam Central Committee To Lam highlights Vietnam’s ASEAN-centric approach, positioning both nations as key players in counterbalancing external influences in Southeast Asia, scholar Kavi Chongkittavorn wrote in an article posted on the Thai Public Broadcasting Service (Thai PBS)'s website on November 22.
Vietnam

Vietnam's internet economy projected to hit 36 billion USD in 2024

Vietnam's e-commerce and digital economy remain highlights of the country’s socioeconomic development, with the internet economy to reach 36 billion USD this year, marking a 16% increase compared to 2023, heard a forum on digital transformation of industry and trade in 2024 in Hanoi on November 21.
Adapting to multicultural environments in global business

Adapting to multicultural environments in global business

VCN - In multicultural environments, businesses believe that a strong spirit of cooperation is essential, combined with internal strengths based on knowledge and a high-quality workforce.

More News

Vietnam resolved to boost digital economy with national action plan

Vietnam resolved to boost digital economy with national action plan

Vietnam has adopted a national action plan on digital economy development, which outlines key tasks and solutions for the 2024-2025 period.
NA Chairman departs for official visit to Cambodia

NA Chairman departs for official visit to Cambodia

National Assembly Chairman Tran Thanh Man and a high-ranking delegation of Vietnam’s Party and State left Hanoi on November 21 for an official visit to Cambodia, where the top legislator will attend the 12th General Assembly of the International Conference of Asian Political Parties (ICAPP) and the 11th Plenary Session of International Parliament for Tolerance and Peace (IPTP).
Innovating gold market management mindset

Innovating gold market management mindset

VCN - To better manage the gold market in the current context, Ass. Professor Dr. Nguyen Thuong Lang, Senior Lecturer at the Institute of International Trade and Economics, National Economics University, believed that a shift in gold market management was needed. Moving away from administrative control toward more economically driven mechanisms and policies is essential.
Businesses need support from vietnamese representative offices abroad

Businesses need support from vietnamese representative offices abroad

VCN - Several heads of Vietnamese representative offices abroad believe that Vietnamese businesses need to prepare solutions to respond to the changing global economy and meet the increasing demands of the international market.
Vietnam-Cambodia relations expected to enter new development period: official

Vietnam-Cambodia relations expected to enter new development period: official

The upcoming trip to Cambodia by National Assembly (NA) Chairman Tran Thanh Man is expected to advance the relations between the two countries into a new development period on the basis of equality, mutual benefit, effective cooperation, and respect for each other's interests, a legislator has said.
Vietnam emerges as forerunner in global nearshoring trend

Vietnam emerges as forerunner in global nearshoring trend

Vietnam has emerged as a leading destination for companies relocating their production facilities, aiming to protect supply chains from potential disruptions, according to an article published by Brazil’s riotimesonline.com on November 17.
PM’s visit to Dominican Republic to cement ties

PM’s visit to Dominican Republic to cement ties

Following his trip to Rio de Janeiro Brazil for the G20 Summit and bilateral engagements, Prime Minister Pham Minh Chinh, accompanied by his spouse and a high-ranking Vietnamese delegation, is set to embark on an official visit to the Dominican Republic from November 19-21.
Top 500 Largest Enterprises in Vietnam in 2024: Affirming the ability to overcome "headwinds"

Top 500 Largest Enterprises in Vietnam in 2024: Affirming the ability to overcome "headwinds"

VCN - On November 8, 2024, Vietnam Report in collaboration with VietNamNet Newspaper announced the VNR500 Ranking - Top 500 Largest Enterprises in Vietnam in 2024. The indicators under the VNR500 Ranking show that the business performance has been positive although there are still "headwinds".
"Explosion" of aviation retail with new services

"Explosion" of aviation retail with new services

VCN - With many large investment projects, Vietnam is considered a potential destination for the aviation trade industry in the Asian region, in which aviation retail will "explode".
Read More

Your care

Latest Most read
HCM City set to welcome fresh wave of US investment

HCM City set to welcome fresh wave of US investment

Ho Chi Minh City is poised to attract a new wave of investment from US enterprises, with numerous projects proposed in key sectors.
Party leader’s Malaysia visit highlights Vietnam’s ASEAN-centric approach: Thai newspaper

Party leader’s Malaysia visit highlights Vietnam’s ASEAN-centric approach: Thai newspaper

The official visit to Malaysia from November 21-23 by General Secretary of the Communist Party of Vietnam Central Committee To Lam highlights Vietnam’s ASEAN-centric approach, positioning both nations as key players in counterbalancing external influences in Southeast Asia, scholar Kavi Chongkittavorn wrote in an article posted on the Thai Public Broadcasting Service (Thai PBS)'s website on November 22.
Vietnam

Vietnam's internet economy projected to hit 36 billion USD in 2024

Vietnam's e-commerce and digital economy remain highlights of the country’s socioeconomic development, with the internet economy to reach 36 billion USD this year, marking a 16% increase compared to 2023, heard a forum on digital transformation of industry and trade in 2024 in Hanoi on November 21.
Adapting to multicultural environments in global business

Adapting to multicultural environments in global business

VCN - In multicultural environments, businesses believe that a strong spirit of cooperation is essential, combined with internal strengths based on knowledge and a high-quality workforce.
Vietnam resolved to boost digital economy with national action plan

Vietnam resolved to boost digital economy with national action plan

Vietnam has adopted a national action plan on digital economy development, which outlines key tasks and solutions for the 2024-2025 period.
Mobile Version