Page 10 - VET356

ECONOMIC POLICY

Positives in place

Though continuing to be exposed to global headwinds, there was still much
to be pleased with in Vietnam’s economic performance during April and the
opening four months of the year, the latest government meeting heard.
By VIET CHUNG

t its April meeting on May 5, chaired and the prestige and position of the coun- Firstly, the implementation of the Res-
by Prime Minister Pham Minh try continued to rise in the global arena. olution from the 13th Party Congress and
A Chinh, the government was upbeat Several international organizations resolutions, conclusions and directions from
about Vietnam’s economic results in the offered optimistic perspectives on Viet- the Party Central Committee, the Politburo,
first four months of 2024, with April in nam’s economic growth so far this year. the National Assembly, and the government
particular recording solid performance. The Asian Development Bank (ADB) are to be monitored and reviewed.
forecast 2024 growth of 6 per cent and Secondly, the country is to resolutely
Outstanding figures HSBC and Standard Chartered Bank 6.3 move forward in the face of any and all
Economic growth continued during and 6.7 per cent, respectively. Vietnam’s difficulties. The more pressure there is,
the first four months in the three sectors business environment ranking improved the harder the country must work, the
of agriculture, industry, and services. The 12 places, and the country was ranked Prime Minister said, turning impossibil-
macro-economy was stabilized, inflation 46th out of the 132 countries in the Global ities into possibilities. Focus should be
was kept under control, and major eco- Innovation Index, up two spots. placed on addressing obstacles, boosting
nomic balances were ensured. Development Addressing the meeting, Prime Min- production and business, and creating
investment continued to see positive results, ister Chinh affirmed that the country’s jobs and livelihoods for the people.
contributing to boosting growth. Enterprise achievements are due to the effective Thirdly, the domestic and international
growth also continued to be positive. leadership and direction of the Party Cen- situations are to be closely monitored,
Administrative reform was boosted, in tral Committee, the Politburo, and the with analytical and forecasting capabilities
particular in cutting and simplifying admin- Party Secretariat, and the coordination enhanced and policies adjusted in a timely
istrative procedures. The prevention and between the National Assembly and rel- and effective manner. The decentralization
control of corruption and negative practices evant ministries and agencies as well as of authority and the allocation of resources
were fostered, strengthening people’s trust. the participation and support of businesses are to be promoted, and enforcement
Vietnam’s socio-political situation and individuals and the assistance and capacity strengthened and inspections
remained stable, national defense and cooperation of international friends. and supervision efforts bolstered.
security were secured, diplomacy and He issued the following directions for Fourthly, unity and solidarity are to
international integration were enhanced, the time to come. be fortified, discipline and order main-

10 Vietnam Economic Times May 15, 2024 en.vneconomy.vn