On February 21, a Government conference with localities on economic growth took place in Hanoi.
According to the Government Electronic Information Portal, in his opening speech at the conference, Politburo member and Prime Minister Pham Minh Chinh emphasized that GDP growth is the most important factor, affecting the scale of the economy, per capita income, and GDP scale in the world.
"There is no other way, we must maintain high and continuous sustainable growth from now until 2045. Only then can we overcome the middle-income trap and rise up, achieve strategic goals, and realize aspirations in the new era," the Prime Minister emphasized.
Recently, the Government has proposed that the Central Government and the National Assembly strive to achieve GDP growth in 2025 of 8% or more and double-digit growth in the coming years. The Central Government issued Conclusion 123 on January 24, the National Assembly passed a Resolution on February 19 and the Government assigned growth targets for 2025 to localities and ministries.
The Prime Minister said that international experience and the most recent announcement of the World Bank (WB) show that over the past 30 years, only 34 economies have succeeded in escaping the middle-income trap to become high-income countries, while 108 countries have not overcome it.
The Prime Minister stated that if the whole country wants to grow above 8%, all ministries, branches, localities, and fields must grow above 8%, domestic and foreign enterprises, collective economies, private economies, etc. must grow above 8%, not just a few localities, a few ministries, a few enterprises must grow high and then push the whole country up, which is very difficult.
The Prime Minister noted that high growth must be sustainable, macroeconomic stability must still be maintained, inflation must be controlled, progress must be ensured, fairness, social security, protection of a clean and green environment, without sacrificing progress, fairness, social security and the environment to pursue economic growth alone.
"The goal is like that, if you don't do it, you can't do it. Therefore, there is a lot of work to do and a lot of effort. We must be determined, make great efforts, work with focus, key points, especially public investment, finish each task, work each task.
This is the time for us to accelerate, break through, reach the finish line, take advantage of every opportunity for the country to advance quickly, advance strongly, fly high and reach far. The world situation is changing very quickly, we must seize opportunities, turn difficulties and challenges into motivation, the more difficulties and challenges we have to make more efforts," said the Prime Minister.
According to the Prime Minister, to grow, it is necessary to renew traditional drivers (investment, export and consumption, diversify markets, products and supply chains), promote new growth drivers such as digital economy, green economy, sharing economy, circular economy, and knowledge economy.
Exploit new development spaces such as sea space, underground space, and outer space. To do so, there must be resources in terms of human resources, capital, technology, and institutions.
The Prime Minister requested the delegates to think, focus on discussing and analyzing the world, regional and national situations, giving comments, suggestions, and clearly defining key tasks and solutions.
In particular, identifying tasks and solutions as "leverage - fulcrum" to be focused, key and bring good efficiency; considering time, intelligence and decisiveness as decisive factors for success.
