Removing institutional barriers, turning bottlenecks into breakthroughs
In 2024, there will be many removals of institutional barriers, turning "bottlenecks of bottlenecks" into "breakthroughs of breakthroughs" for development, unblocking and liberating all resources of the economy; clearly demonstrated in the strong decentralization process, creating proactiveness, flexibility, promoting the efficiency of public resources and management capacity at the implementation level in the Law on Public Investment (amended).
Strongly shift from “pre-inspection” to “post-inspection” in the Law amending and supplementing 4 laws on investment, including creating a “green channel” to shorten procedures for innovation, semiconductor, and high-tech projects in industrial parks to 260 days so that projects can start construction soon, put into exploitation and operation.
The size of the economy continues to increase
The scale and potential of the economy continue to be raised, constantly promoting the achievements after 40 years of Doi Moi, especially since the beginning of the term, helping our country accumulate position and strength for breakthrough development in the next period. By the end of 2024, it is possible to complete 15/15 main targets, with a growth rate of about 7%, exceeding the set target (6-6.5%).
Attracting FDI, attracting "eagles" to nest
Our country continues to be an attractive destination for global FDI capital flows, which are declining and competition among countries is increasingly fierce. FDI attraction in 11 months is estimated at nearly 31.4 billion USD, realized FDI capital is estimated at about 21.7 billion USD, up 7.1% over the same period.
In particular, the Vietnamese Government and the world's leading technology corporation NVIDIA signed a cooperation agreement to establish a Research and Development Center and an Artificial Intelligence (AI) Data Center. This is a historic turning point for Vietnam, making our country a leading AI research and development center in Asia.
Import and export are bright spots
Import and export was a highlight this year with total turnover reaching a new record of nearly 800 billion USD. This figure increased by 15% compared to the previous year and nearly tripled the Government's target of about 6%. Of which, exports were over 400 billion USD, up 14.4% and imports increased by 16.4%. The trade balance maintained a high trade surplus of nearly 25 billion USD, marking the 9th consecutive year of trade surplus.
The country has 36 items with export turnover of over 1 billion USD (in the same period last year there were only 33 items), of which 7 items exported over 10 billion USD. There are 44 imported items with value over 1 billion USD, accounting for 92.6% of total import turnover (there are 5 imported items over 10 billion USD, accounting for 51.4%).
Strongly promote innovation
In 2024, Vietnam has strongly promoted innovation, creative startup ecosystem, new industries and fields such as digital economy, green growth, circular economy, chips, semiconductors, artificial intelligence, high-tech agriculture... and new economic models such as international financial centers, regions, free trade zones... in some localities.
