Vietnam has successful year despite difficulties: PM

In 2022, despite many difficulties, Vietnam has managed to keep the macro-economic stability, with high economic growth, controlled inflation and ensured major balances, as well as political stability and protected security and national sovereignty, and enhanced external relations, Prime Minister Pham Minh Chinh said at the 5th Vietnam Business Forum in Hanoi on December 17.

The success of Vietnam in the year was thanks to the sound leadership of the Party, the effective management of the State, and the engagement of the whole political system as well as the business community, all people and the support of international friends, the PM underscored.

Along with reviewing the country’s socio-economic achievements and lessons in 2022, the PM also highlighted major management viewpoints and orientations in the time to come.

The PM said that development must base on the foundation of building socialist democracy, the construction of a rule-of-law socialist State and the socialist-oriented market economy.

In this process, the people must be placed at the centre, and become the subject, the target and motivation for development, he added, stressing the significance of three breakthrough tasks of developing strategic infrastructure, completing institutions and improving human resources. In addition, the Government leader also underlined the effectiveness of Vietnam’s external policies, which have resulted in many achievements so far.

The PM held that 2023 will continue to see complicated and unpredictable developments in the world, with more difficulties inside the country. He asked ministries, sectors and localities to continue to drastically implement directions of the Party, National Assembly, Government and the PM regarding socio-economic development, while giving active and timely policy response. Ministries and sectors must consider matters of the people and businesses as their own, he stressed.

In 2023, the Government will continue to apply firm, flexible and effective monetary policies in close and harmonised association with fiscal policies and other policies, ensuring the overall effectiveness to meet the demand of the reality. He said that the foreign exchange rate and interest rates will be managed to suit the real situation and conditions, while monetary policy tools will be optimised to ensure the supply of credit capital to the economy, with a focus on prioritised areas.

Meanwhile, inflation control and economic growth will be balanced, along with a strong liquidity and suitable credit growth as well as the removal of bottlenecks for the capital flows in the economy, he said. Together with suitable and effective fiscal policies and stronger efforts in State budget collection, the Government will continue to speed up the reform of administrative procedures regarding taxation, offer tax support policies and tighten the management of finance and State budget, he said.

The PM added that ensuring major balances of the economy and healthy, stable and sustainable development of all kinds of markets, especially the corporate bond, securities, and real estate markets will also be a focus of the Government. Meanwhile, more efforts will be made to ensure social welfare, fight corruption and maintain political stability and social order as well as security and defence, while external relations and international integration activities will also be strengthened, he said.

PM Chinh also stressed the need to continue perfecting institutions and policies and promoting the growth of digital, green and circular economy in line with climate change response, and enhancing the effectiveness of planning activities and human resources training.

The PM also took this occasion to thank countries, international organisations, foreign experts and scientists for supporting Vietnam over the past years, and expressed his hope that they will continue to give more ideas and make specific actions to help Vietnam develop stronger in the spirit of trust and efficiency.

The 5th Vietnam Business Forum drew the participation of more than 1,000 delegates who are leaders of central and local agencies, ministries and sectors, and representatives of international organisations, embassies and general consulates of other countries in Vietnam, as well as leaders of businesses, associations, universities, research institutes, and domestic and international experts./.