Positive signals seen in two-month socio-economic development: PM
The consumer price index (CPI) in the two months increased 3.27% compared to the same period last year. State budget revenue reached 25.4% of the annual estimate, up 25.7%.
Prime Minister Pham Minh Chinh addresses the meeting (Photo: VNA)
Hanoi (VNA) – Prime Minister Pham Minh Chinh chaired the regular Government meeting for February on March 5, which focused on evaluating socio-economic performance in February and the first two m🎐onths of this year.
Participants also discussed national target programmes, public investment disbursement, the implementation of Government’s Resolution No. 25 on management and operations, rice production and export, as well as key areas for the coming period.
Opening the meeting, PM Chinh highlighted that the country enjoyed socio-economic progress across all fields so far this year compared to the same period last year.
The macro-economic landscape has remained stable, with inflation under control, and key economic balances secured, he noted, adding that growth has been spurred, with positive signals emerging across agriculture, industry, and services. The cultural and social sectors have also received increased focus, while political and social stability, national security, and defence have been maintained and strengthened. Additionally, foreign relations have been expanded and deepened, he said.
However, the leader warned that the country’s economy remains relatively small, highly open, and vulnerable to external shocks.
He asked Government members to thoroughly assess the socio-economic situation, highlighting successes, areas for improvement, and lessons learned from February, while analysing major issues emerging in March, with an emphasis on maintaining macroeconomic stability, fostering growth, controlling inflation, and managing monetary and fiscal policies effectively.
An overview of the meeting (Photo: VNA)
The PM urged participants to propose management and direction solutions to achieve at least 8% growth in 2025, contributing significantly to the successful implementation of the 2021-2025 socio-economic development plan.
According to the Ministry of Finance, the country’s socio-economic performance in the first two months has been notably positive, surpassing both the previous month and the same period last year. Both domestic and international businesses, investors, and international credit rating agencies have shown greater confidence in the nation’s economic prospects.
The consumer price index (CPI) in the two months increased 3.27% compared to the same period last year. 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) inflow 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./.
Due to the effects of global supply and demand developments, Vietnam's rice exports in the first two months showed a declining trend as export prices continuously fell. Meanwhile, Mekong Delta localities are currently in the peak harvest season for the winter-spring crop, leading to a significant decrease in the rice purchasing prices compared to the same period in 2024.
Prime Minister Pham Minh Chinh stressed that the Vietnamese Government will always stand by businesses to foster breakthroughs, unite strengths, and shape the future, keeping ASEAN a dynamic, innovative, and growth-centered region that benefits all member countries
Sharing the positive results of Vietnam's socio-economic development in 2024, PM Pham Minh Chinh mentioned that its investment and business environment has continued to improve, receiving positive assessments from the international community and investors. The country's economy is currently ranked 33rd or 34th in the world, and many major international organisations have upgraded its competitiveness rankings and rated its creditworthiness as stable.
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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.
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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).
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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.
