Prime Minister Phạm Minh Chính emphasized the importance of economic cooperation to achieve an 8% growth target for 2025, while maintaining macroeconomic stability and social equity. He outlined strategies focusing on institutional improvements, infrastructure, and human resources. He has called for enhanced foreign partnerships and proactive measures to address investment issues, alongside attention to free trade agreements and market monitoring.
On March 8, Prime Minister Phạm Minh Chính underscored the significance of economic cooperation in achieving an 8 percent economic growth target for 2025, with ambitions for double-digit growth in subsequent years. Leading a Government meeting, he reviewed the regional and global economic landscape, pinpointed challenges, and outlined necessary actions and solutions, affirming that meeting these goals demands robust commitment and responsibility toward the nation.
PM Chính stressed that while fostering growth is essential, it remains critical to maintain macroeconomic stability, regulate inflation, ensure economic balance, and prioritize social equity, welfare, and environmental protection. He called for coordinated efforts across ministries, sectors, and localities to execute proposed strategies effectively, synchronously, and in all areas.
He emphasized three strategic breakthroughs: enhancing institutional frameworks, upgrading infrastructure, and investing in high-quality human resources training. The Prime Minister advocated for revitalizing traditional growth drivers, including investment, exports, and consumption, while also fostering innovative sectors in the economy.
Furthermore, he highlighted the urgency for stakeholders to expedite public investment disbursement, implement crucial national projects, develop financial centers, free trade zones, improve railway connectivity, and invest in nuclear power plants. The Prime Minister also stressed the importance of transitioning to greener economic models and advancing industries such as semiconductors and artificial intelligence.
Emphasizing the pivotal role of foreign economic cooperation for growth, PM Chính called for enhanced efforts in developing trade and investment relations with key partners such as China, the United States, Europe, Japan, and the Republic of Korea. He urged improvements in the economy’s competitiveness and transparency to bolster international integration and trade balance.
He also advised ongoing market monitoring to adapt flexibly to changes from external economic policies and to capitalize on existing free trade agreements (FTAs) while accelerating discussions for new ones to widen market and supply chain options. The Prime Minister called for regular reviews of tax policies with major partners and for proactive solutions to enhance foreign investment in Vietnam.
Finally, PM Chính urged the resolution of issues regarding work permits and visas to facilitate foreign businesses’ investment, enabling Vietnam’s deeper integration into global supply chains.
In conclusion, Prime Minister Phạm Minh Chính’s emphasis on economic cooperation highlights several key strategies for achieving significant growth targets by 2025. He advocates for coordinated efforts across various sectors, focuses on traditional and innovative growth drivers, and reinforces the importance of foreign partnerships. Monitoring market trends and optimizing trade agreements are essential for Vietnam’s advancement in the global economy.
Original Source: vietnamnews.vn
