Prime Minister chairs meeting discussing measures to adapt to changes in int'l trade
PM Chinh affirmed that adversity has always reinforced Vietnam’s resilience and resourcefulness, enabling the country to overcome obstacles and adapt effectively to global shifts.
Prime Minister Pham Minh Chinh speaks at the meeting. (Photo: VNA)
Hanoi (VNA) – Prime Mཧinister Pham Minh Chinh chaired a hybrid conference on April 7 with leaders of ministries, localities, business associations, and Vietnamese diplomatic representatives abroad to discuss measures to proactively adapt to changes in international trade.
In his opening remarks, PM Chinh highlighted the rapidly changing and complicated global and regional situation, noting that difficulties and challenges are currently outweighing opportunities. He pointed out that this is not a new phenomenon, citing past difficulties such as the COVID-19 pandemic, regional conflicts disrupting production and supply chains, and natural disasters.
The government leader also mentioned the new US tariff policy, acknowledging the challenges it poses to Vietnam's economy. However, he emphasised that these difficulties are not as severe as those Vietnam encountered in the early years of economic reforms or during the wars for national independence and the period the country underwent blockage and embargo.
PM Chinh affirmed that adversity has always reinforced Vietnam’s resilience and resourcefulness, enabling the country to overcome obstacles and adapt effectively to global shifts. He stressed that Vietnam’s growing strength allows it to respond flexibly to both global and regional challenges, quoting President Ho Chi Minh’s famous teachings: “Where there is a will, there is a way.”
Prime Minister Pham Minh Chinh chairs the hybrid conference on April 7. (Photo: VNA)
The PM also provided an update on Vietnam’s socio-economic development, reporting positive growth despite global challenges. In the first quarter of 2025, Vietnam’s GDP grew by 6.93%, with state revenue reaching 36.7% of the annual target, a 29.3% increase compared to the same period last year. The country also saw a 13.7% increase in trade turnover and a trade surplus of approximately 3.16 billion USD. Foreign direct investment (FDI) reached nearly 11 billion USD, a 34.7% year-on-year increase.
Progress in social welfare and cultural development was also highlighted, with efforts underway to eliminate temporary houses and ensure basic social security by the end of 2025. National security and political stability have been maintained, while Vietnam’s diplomatic relations have continued to be strengthened, marked by vibrant high-level exchanges with other nations.
Being a developing country with a relatively small economy, Vietnam remains vulnerable to global shifts, he said, acknowledged that while the new US tariffs pose challenges, they also offer an opportunity to restructure the economy, diversify markets, and strengthen supply chains.
"We must rise up strongly, not be allowed to weaken, the more difficult it is, the more united we must be, the more we must join forces and be unanimous," he stressed, calling for unity and collective action during difficult times, reaffirming the Party’s unwavering commitment to national independence, sovereignty, and the welfare of the people.
PM Chinh urged participants to assess the current situation, analyse the challenges, identify opportunities, and propose solutions to maintain rapid and sustainable growth. He also reiterated the target of 8% growth for 2025, with the long-term goal of achieving double-digit growth, propelling Vietnam towards becoming a developed nation with high income by 2045./.
Prime Minister Pham Minh Chinh said it is a must to clearly identify responsibility of each ministry, sector, and locality, to implement mechanisms and policies in order to resolve institutional obstacles, to boost public investment that would contribute 2% to growth, and to foster traditional growth drivers like investment, consumption, and exports.
Vietnam hopes that the US will adopt a tariff policy that is conformable to the good relationship between the two countries, meeting the desires of their people, and the efforts that Vietnam has made in recent years, PM Chinh said, stressing that this policy should take into account the conditions and circumstances of Vietnam as a developing country still recovering from the heavy and prolonged consequences of the wars.
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