Government continues to prioritise promoting growth and containing inflation

This statement was made by Prime Minister Pham Minh Chinh in a report on the results of implementing the 2023 socio-economic development plan and a plan for 2024 socio-economic development at the sixth session of the 15th National Assembly.

In his report presented to the NA, PM Chinh clearly analysed the world and domestic situation, stressing that the socio-economic recovery trend continues to achieve the set general goals and many important results across a variety of fields.

As a result, the country continues to represent a bright spot of the global economy with at least 10 out of 15 targets being fulfilled or exceeding the set goals this year.

The past nine months has seen the macroeconomy generally remain stable, coupled with controlled inflation, promoted growth, and guaranteed major balances.

GDP growth in the third quarter reached 5.33%, recording an average of 4.24% during the nine-month period, while the average consumer price index (CPI) soared by 3.16% throughout the reviewed period. The currency and foreign exchange markets were basically stable, with falling interest rates.

Imports and exports increased gradually over the months, with a trade surplus of nearly US$22 billion over the past nine months.

Energy security and food security were guaranteed, while the labour market witnessed positive recovery.

Disbursement of public investment capital by the end of September reached 51.38% of the plan, 4.68% higher than the same period from last year, while disbursed FDI capital hit approximately US$16 billion, an increase of 2.2% on-year.

Furthermore, new and adjusted investment capital abroad reached US$416.8 million, up 4.6% over the corresponding period from last year.

Many reputable international organisations highly appreciate the results and prospects of the Vietnamese economy, with many predicting that the nation will recover quickly in the near future. Indeed,, the country’s national brand value stood at US$431 billion, moving up one place to 32nd out of 100 strong national brands in the world.

Due attention was given to cultural and social fields, with greater investment put in towards the cause of stronger development, thereby achieving clearer results.

The overall quality of general education, university education, and vocational education continues to improve, with a specific focus on developing human resources associated with science and technology, promoting innovation, digital transformation, green economy, digital economy, and digital society.

The overall quality of general education, higher and vocational education continued to improve with a focus placed on developing human resources associated with science and technology, thereby promoting innovation, digital transformation, the green economy, the digital economy, and digital society.

The national innovation startup ecosystem grew strongly, with Vietnamese global innovation index ranking 46 out of 132, up two places compared to 2022.

Socio-political stability, national defence, and security were strengthened, while independence and sovereignty, territorial integrity, political security, social order, and safety were all maintained.

Foreign affairs and international integration were viewed as a highlight of the year, creating fresh opportunities to boost national development and enhance the nation's role, position, and prestige within the international arena.

Moreover, the Vietnamese cabinet leader also clearly pointed out shortcomings, limitations and five lessons of experience, emphazising the important experience is to unite the entire Party, all people, and reinforce national solidarity, and international solidarity.

He also touched upon 12 major tasks and solutions ahead in 2024 and beyond, while calling on greater efforts to over various difficulties and challenges to fulfill all set targets.