PM urges timely allocation of state investment funds
Son noted that Vietnam’s socio-economic situation in the first two months of 2025 has been highly positive, with macroeconomic stability maintained, inflation under control, and key economic balances ensured.
Hanoi (VNA)ꦑ – Prime Minister Pham Minh Chinh has instructed ministries, agencies, and localities to finalise the allocation of the 2025 state investment plan by March 15, warning that unallocated funds will be withdrawn and reassigned to high-priority projects.
Chairing the Government’s February meeting, PM Chinh stressed the importance of expediting fund distribution to accelerate projects' progress, Minister-Chairman of the Government Office Tran Van Son said at a press conference on March 5.
Son noted that Vietnam’s socio-economic situation in the first two months of 2025 has been highly positive, with macroeconomic stability maintained, inflation under control, and key economic balances ensured.
The consumer price Index (CPI) in the period increased by 3.27% compared to the same period in 2024. State budget revenue reached 25.4% of the annual estimate, up 25.7%. The export-import turnover grew by 12%, with a trade surplus of 1.47 billion USD. Foreign direct investment (FDI) reached over 6.9 billion USD, a rise of 35.5%, while FDI disbursement hit nearly 3 billion USD, up 5.4%.
Industrial production has seen strong growth, with the index of industrial production (IIP) up 16.7% in February and 7% in the two-month period.
Minister-Chairman of the Government Office Tran Van Son speaks at the press conference. (Photo:VNA)
Disbursement of public investment capital amounted to 60.4 trillion VND, equivalent to the same period in 2024, reaching 7.32% of the planned allocation.
Additionally, Vietnam successfully hosted the ASEAN Future Forum 2025 and other high-level diplomatic events, further enhancing its international standing. Many global institutions remain optimistic about Vietnam’s economic outlook for 2025.
Challenges & key priorities
Despite these achievements, the PM and Government members also acknowledged various challenges and shortcomings, including complicated and unpredictable international developments that have continued to impact Vietnam’s economy. Institutional and legal bottlenecks are still a major obstacle to economic growth. Accessing capital and mobilising resources and accessing credit remains challenging, along with slow domestic demand recovery.
The Government leader outlined major tasks and urgent priorities, emphasising the goal of achieving a GDP growth rate of at least 8% in 2025.
He underscored the importance of the implementation of an active, flexible, timely, and effective monetary policy in harmony with an appropriate expansionary fiscal policy.
Public investment should be accelerated along with fine-tuning government bond issuance plans to secure additional capital for national key projects. Efforts should be made to increase revenue, cut down expenses and reduce taxes, fees and charges, he added.
The PM emphasised that it is crucial to ensure there is no shortage of electricity for production, business and consumption.
The Government leader also highlighted the need to revitalise traditional growth drivers, foster new ones as well as science-technology innovation and digital transformation.
Agencies were urged to expand the "Vietnamese people prioritise using Vietnamese goods" campaign with new approaches; develop visa policies tailored for key international partners, including visa exemptions for global billionaires.
Deputy Prime Minister Tran Hong Ha was assigned to hold working sessions with provinces in the Mekong Delta on rice production and exports, infrastructure development, and saline intrusion mitigation.
The PM directed localities to continue tackling long-standing issues while accelerating major initiatives such as the construction of 1 million affordable housing units, prioritising people under 35, and eliminating substandard houses./.
Prime Minister Pham Minh Chinh called for efforts to accelerate economic growth quickly and sustainably, while ensuring macroeconomic stability, safeguarding social welfare, promoting social progress and equity, and protecting the environment.
As the highest administrative body, the Government bears a heavy responsibility across all sectors, particularly as Vietnam aims for sustainable double-digit economic growth while ensuring macroeconomic stability, controlling inflation, public debt and fiscal deficits, and safeguarding national sovereignty and territorial integrity, said PM Pham Minh Chinh.
In the first two months of the year, government bond issuances through HNX auctions reached 45.11 trillion VND, fulfilling 41% of the first-quarter target and 9% of the annual plan for 2025.
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 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.
