The socio -economic situation in the first two months of the year has many positive results, better than the previous month and the same period 2024, according to Minister Nguyen Van Thang.
On the morning of March 5, reporting at the Government meeting in February, Minister of Finance Nguyen Van Thang said that people, businesses, investors at home and abroad, institutions and organization of international credit ratings increase their confidence in the prospects of the economy.
According to him, the socio -economic situation in the first 2 months of the year has many positive results, better than the previous month and the same period 2024. Macroeconomic economy is stable, inflation is controlled with the average consumer price index (CPI) in 2 months increasing by 3.72% over the same period. Trade balance surplus nearly US $ 1.5 billion. Total FDI registered more than US $ 6.9 billion, up 35.5% over the same period, while the capital is nearly 3 billion USD.
Production and business activities grow positively, industrial production index (IIP) in February increased by 16.7% over the same period. The operator continues to improve the institution, improve the business investment environment, handle problems, promote key infrastructure projects, new growth motivation.
Finance Minister Nguyen Van Thang spoke at the regular Government meeting, March 5. Image: VGP
However, Minister Nguyen Van Thang acknowledged the growth drivers have not made clear breakthroughs. Along with that, increased competitive pressure in export and domestic markets, the ability to absorb capital of the economy is weak.
Presiding in this session, Prime Minister Pham Minh Chinh said that at this time, work a lot, while the world situation was fast and complicated. He pointed out the increasingly strategic competition, some countries regulating trade policies, especially taxes, affecting trade, global supply and demand.
The Prime Minister suggested that ministries and localities are not subjective to external developments, especially when the recovery of the world economy is weak. Because Vietnam is a developing country, the scale of the economy is modest, large openness, and resistance to external shocks.
The Government held a February meeting on socio -economic, March 5. Image: VGP
This year, the Government aims to increase GDP from 8% or more, creating momentum for a two -digit growth in the coming years. Vietnam determined to promote strategic breakthroughs including institutions, infrastructure and human resources, streamlining the apparatus, reforming administrative procedures, eliminating the mechanism of application – giving, reducing time and costs for people and businesses. The operator is expected to reduce the procedures and business costs by 30%.
In order to achieve the goals, the Ministry of Finance proposes the ministries and localities to stabilize the organizational structure, ensuring smooth operation. Agencies need to overcome the situation of slow promulgation of documents to improve institutions and improve the investment environment.
The Ministry of Finance is expected to submit to the competent authorities for policies of exemption, reduction, tax extension, fee and land rent in 2025 before March 15. They also complete the plan to issue government bonds in the first quarter, to supplement the investment resources for key infrastructure projects.
This agency proposes that the State Bank has solutions to reduce the lending interest rate under the Prime Minister’s direction. The banking industry needs to direct credit institutions to review, reduce procedures, conditions for lending and accelerate credit capital with areas that create motivation for growth, especially green growth. The construction of a credit package for young people under 35 years old to buy houses should be studied and reported to the Prime Minister in the second quarter.
The Ministry of Industry and Trade increases trade promotion, supporting businesses to effectively exploit 17 Free Trade Agreements (FTA) signed, accelerated negotiations and new FTAs with the Middle East, Switzerland, Norway … This agency is required to take the initiative in commercial defense solutions, research “Tax -free port” to make Vietnam a large logistics center, increase goods distribution through digital platforms.