Prime Minister Emphasizes Economic Cooperation for Growth Targets
Prime Minister Phạm Minh Chính underscored the necessity of economic cooperation to target 8% growth by 2025. He emphasized maintaining macroeconomic stability and social equity while fostering investment and infrastructure. The importance of enhancing foreign collaborations and optimizing trade agreements was also highlighted for deeper integration into global markets.
On March 8, Prime Minister Phạm Minh Chính emphasized the importance of economic cooperation to achieve an 8% economic growth target for 2025 and sustain double-digit growth rates thereafter. Leading a Government meeting to evaluate both regional and global economies, he acknowledged the challenges ahead but underscored the responsibility towards the nation and its citizens.
PM Chính stated that while focusing on growth, it remains essential to ensure macroeconomic stability, control inflation, and maintain major economic balances. He also highlighted the need for social equity, welfare, and environmental protection as part of the development strategy.
He urged collaboration across ministries, sectors, and localities for the effective implementation of proposed tasks. This should include strategic breakthroughs in improving institutions, infrastructure, and the training of high-quality human resources, alongside revitalizing traditional growth drivers like investment and exports.
Additionally, stakeholders are encouraged to expedite public investment disbursement, advance key national projects, and develop financial centers and rail connectivity. PM Chính highlighted transitioning to a greener growth model, developing a knowledge economy, and promoting emerging industries such as semiconductors and artificial intelligence as essential components of the growth strategy.
The PM also noted the pivotal role of foreign economic cooperation in spurring growth, stressing the need to strengthen trade and investment relations with key partners including China, the United States, and Japan. Improving the economy’s competitiveness and transparency is necessary to facilitate international integration and trading balance.
He requested ongoing market monitoring and effective responses to changes in other countries’ economic and tariff policies. Maximizing the benefits from existing free trade agreements and diversifying markets are also crucial for maintaining competitiveness.
To attract foreign investment, PM Chính called for proactive resolutions to existing foreign investment project issues, along with necessary adjustments in work permit and visa processes to accommodate foreign operations, thereby enhancing Việt Nam’s integration into global supply chains.
In summary, Prime Minister Phạm Minh Chính has clearly articulated the significance of economic cooperation for achieving ambitious growth targets in Vietnam. He called for a collective effort across various sectors to maintain macroeconomic stability while embracing a greener growth model. The emphasis on maximizing existing trade agreements and enhancing foreign investment frameworks reflects an understanding of global economic dynamics, establishing a proactive approach toward sustainable development.
Original Source: vietnamnews.vn
