Don't forget the disadvantaged areas
On February 21, Politburo member and Prime Minister Pham Minh Chinh chaired a Government conference with localities on economic growth.
According to the Government Portal, in his concluding remarks, the Prime Minister raised the issue of "we have the ability to do, we have confidence to do and we dare not to do" in implementing the growth target of at least 8% in 2025 and double-digit growth in the coming years.
The Prime Minister reiterated that after nearly 40 years of renovation, rising from poverty, war damage, surroundings and embargoes, we have achieved great achievements of historical significance, our country has never had the foundation, potential, position and international prestige as it has today.
The head of the Government praised a number of localities such as Bac Giang and Quang Ninh for setting high growth targets, of which Quang Ninh set a target of 16%, higher than the target assigned by the Government (12%).
The Prime Minister emphasized and promoted growth drivers such as the Southeast and Red River Delta (12 localities in these two regions contribute 60% of GDP), growth poles such as Hanoi and Ho Chi Minh City (Hanoi contributes 13.2% of GDP, 25% of the country's budget revenue, Ho Chi Minh City contributes 17.9%, 25% of the country's budget revenue).
At the same time, do not forget the disadvantaged areas. The remaining regions must make more efforts, strive more, promote different potentials, outstanding opportunities, and competitive advantages to move up.
The total public investment capital in 2025 is 826,000 billion VND, 741,100 billion VND has been allocated, the remaining 84.800 billion VND has not been allocated. The Prime Minister requested that it must be decided to allocate immediately in the first quarter of 2025, if not completed, it must be resolutely reclaimed and transferred to another place.
Attracting experts, talented people, and billionaires from around the world to Vietnam
The Prime Minister requested to continue perfecting institutions as "breakthroughs of breakthroughs" and improving the effectiveness of law enforcement organization; ensuring a streamlined, effective and efficient organization; promoting administrative reform and digital transformation.
Piloting outstanding incentive mechanisms and policies, creating breakthroughs to promote the potential and strengths of each region and locality.
Promote tourism promotion, have appropriate visa policies to attract tourists, attract experts, talented people, and billionaires in the world to Vietnam.
Create favorable conditions for good foreign experts and overseas Vietnamese to work for Vietnam.
Urgently guide and focus on implementing the National Assembly's Resolution on new pilot policies, breakthroughs in investment, finance, bidding, and controlled testing; effectively promote science and technology funds, encourage venture capital funds, startups, and innovation.
The State Bank operates a proactive, flexible, timely and effective monetary policy; synchronously coordinates with a reasonable, focused and key expansionary fiscal policy.
Promote credit growth, focus on priority areas, growth drivers; strive to reduce lending interest rates; establish a credit package to support young people (under 35 years old) to buy a house; strongly promote social housing credit.
The Ministry of Finance continues to research and propose policies to reduce taxes, fees and charges.
The ministries focus on immediately removing bottlenecks in the real estate market and corporate bonds; promptly upgrading the stock market in 2025; having a mechanism to effectively exploit indirect investment flows and international investment funds; especially promoting the two international and regional financial centers in Ho Chi Minh City and Da Nang.
The Ministry of Industry and Trade ensures enough electricity and gasoline in all situations; amends and effectively implements the Power Plan VIII.
