PM asks for more efforts to stablise macroeconomy, control inflation
Prime Minister Pham Minh Chinh has emphasised the need to strengthen the capacity for analysis, forecasting as a tool to help control inflation, stablise macro-economy, and ensure major balances of the economy, contributing to accelerating economic recovery and sustainable development.
Hanoi (VNA) - Prime Minister Pham Minh Chinh has emphasised the need to strengthen the capacity for analysis, forecasting as a tool to help control inflation, stablise macro-economy, and ensure major balances of the economy, contributing to accelerating economic recovery and sustainable development.
Chairing a July 30 meeting with leaders of ministries, sectors, central agencies, experts, scientists and experts from international organisations in Vietnam on measures to maintain macroeconomic stability, and control inflation, the PM stressed that attention must be paid to implementing monetary policy prudently, flexibly, and effectively in a timely manner in close coordination with fiscal policy and other policies.
Policy tools need to be adjusted appropriately to both promote socio-economic recovery and development, and contribute to controlling inflation, stabilising the macro-economy, ensuring national financial safety. Focal issues in the coming time are accelerating public investment, ensuring social security market and price control, human resources development and strategic infrastructure, he pointed out.
The PM also emphasised that more attention should be paid to fighting corruption and negative phenomena; and strengthening objective, transparent, honest and timely communication activities regarding the issue.
He assigned the Ministry of Planning and Investment to expeditiously collect comments and complete relevant reports and documents to submit to the Government and authorised agencies.
According to reports at the event, despite facing many difficulties and challenges, Vietnam basically maintained a reasonable economic growth with GDP in the first half of this year being estimated to increase by 6.42% year-on-year, much higher than the expected scenario. The country’s macroeconomic was stablised, inflation well controlled and major economic balances ensured.
🐬 Economists agreed with the Government's view in general and in implementing of the economic recovery and development programme in particular, which prioritises using fiscal policy to support monetary policy.
Ha Thi Kim Nga, senior economist at the International Monetary Fund in Vietnam, said Vietnam has well implemented inflation control. However, it still needs to stay prudent against inflation risks because of complicated developments in the world market./.
Standard Chartered has forecast Vietnam’s GDP growth at 10.8% in the third quarter and 3.9% in the last quarter of 2022, contributing to annual expansion of 6.7%.
Prime Minister Pham Minh Chinh chaired a meeting attended by ministries and sectors on July 28 to discuss short- and long-term measures for keeping inflation under control, stabilising the macro-economy, and promoting socio-economic recovery and development.
Deputy Prime Minister Le Minh Khai has ordered the acceleration of the disbursement of financial packages serving the socio-economic recovery programme, particularly rent subsidy for workers as well as support in terms of interest rate for firms and cooperatives.
UN Assistant Secretary General and UNDP Regional Director for Asia and the Pacific Kanni Wignaraja has expressed her impression on Vietnam’s strong commitments to climate change response, including energy transition.
Prime Minister Pham Minh Chinh chaired a dialogue with the Republic of Korea (RoK)’s Ambassador Park Noh-wan and representatives of Korean associations and businesses in Vietnam in Hanoi on July 30.
Stronger efforts and determination are required to achieve and surpass the set targets, especially in the eradication of makeshift and dilapidated houses nationwide, the acceleration of public investment disbursement, and the implementation of nationally important transport projects, PM Pham Minh Chinh noted.
The trip will be made at the invitations of Chinese Premier Li Qiang and WEF President and CEO Børge Brende, according to an announcement from the Ministry of Foreign Affairs.
Long spoke highly of the dynamic, positive, and comprehensive development of Vietnam – Russia relations in recent years. He affirmed that the Vietnamese Party and State place great importance on further strengthening the comprehensive strategic partnership with Russia in a substantive and effective manner, in line with the development needs of both nations.
At the conference, participants reported that the Government has so far issued 28 decrees on the delegation of responsibilities and powers between the central Government and two-tier local administrations. Several localities have already piloted the new governance model.
Reality is the ultimate benchmark for success, he said, urging drafting agencies to work out policies that foster development, reduce bureaucratic hurdles, and respect practical conditions.
Under the official dispatch signed on June 20, ministers, heads of ministerial-level agencies, and chairpersons of provincial and municipal People’s Committees are requested to concentrate efforts on implementing core measures to ensure the smooth operations of the new administrative framework.
The Party chief underscored the need for the press to innovate relentlessly, evolve to keep pace with the country's development, transform into a truly professional, humanistic, and modern sector that serves the cause of the Party, the State, and the people on the path to national construction and development.
The UN Secretary-General praised Vietnam’s remarkable achievements in socio-economic development and international integration in recent years, noting that the country has emerged as a model in implementing the Sustainable Development Goals (SDGs), promoting international peace and security, and engaging in key UN processes.
Nghia affirmed that this is a milestone of special significance, affirming and honouring the the Vietnamese revolutionary press’s glorious tradition of 100 years of serving the revolutionary cause of the Party, serving the Fatherland, and serving the people.
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 view of the meeting (Photo: VNA) 
