Fiscal, monetary policies should be combined harmoniously: PM
Prime Minister Pham Minh Chinh on January 6 urged the financial sector to harmoniously combine fiscal and monetary policies, and better the State budget management work in 2022.
Prime Minister Pham Minh Chinh speaks at the conference. (Photo: VNA)
Hanoi (VNA) – Prime Minister Pham MinhChinh on January 6 urged the financial sector to harmoniously combine fiscaland monetary policies, and better the State budget management work in 2022.
The State budget must be spent economically andeffectively, he told a national conference held online on January 6, stressing theneed to cut unnecessary expenses and ensure resources for important tasks, especially theCOVID-19 prevention and control.
The Government leader also asked the sector to pushahead with the disbursement of public investments to boost economic recoveryand growth.
He reviewed significant achievements Vietnam recorded lastyear with State budget collection topping 1.56 quadrillion VND,surpassing the estimate by 16.4 percent, and budget overspending below 4percent, even lower than the figure estimated by the National Assembly.
Total export-import value increased 22.6 percent tohit the record of 668.5 billion USD, making Vietnam one of the 20 countrieswith the biggest trade scale. The country’s trade surplus is estimated at 4billion USD.
The macro economy was kept stable in the year, inflation put under control, the consumer price index (CPI) up 1.84 percent, andmajor economic balances ensured.
Meanwhile, foreign direct investment (FDI)expanded by 9.2 percent, with capital addition up 40 percent, demonstratinginvestors’ confidence in the domestic business environment, as well as theirhope for Vietnam’s economic recovery.
The Finance Ministry reported that the total amount oftax and State budget revenue that was extended, exempted and reduced in 2020reached 174.2 trillion VND./.
The financial sector expects to collect over 1.343 quadrillion VND (58.4 billion USD) for the State budget in 2021, equivalent to 15.5 percent of the country’s gross domestic product (GDP), said the Ministry of Finance.
The financial sector needs to renovate more strongly to free up resources to meet the country’s development objectives, Prime Minister Nguyen Xuan Phuc told an online meeting to review financial sector and State budget performance in 2020 and define tasks for 2021.
Prime Minister Pham Minh Chinh has told the Finance Ministry to reform the mindset on policy building in the direction of mobilizing resources from all sources and using all resources in an effective and economical manner.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
New Zealand is currently one of Vietnam’s most important partners in the region, marked by a high level of political trust, strong and reliable defence and security cooperation, and increasingly open economic, trade, and investment ties.
Party General Secretary To Lam stressed that the Central Public Security Party Committee must be fully aware of the extremely important role of the People's Public Security force in the country's new revolutionary phase, so as to guide each branch and level of the force as the nation undergoes transformation.
Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
Prime Minister Pham Minh Chinh speaks at the conference. (Photo: VNA) 
