PM Chinh on March 3 chaired a regular cabinet meeting with the participation of Deputy Prime Ministers, heads of ministerial-level, and various Government agencies among others.
In his speech at the meeting, the Vietnamese Government chief touched upon both the advantages and difficulties regarding the domestic and international situation, with high inflation pressures and sharp increases occurring in raw material gasoline prices, fuel, and transportation charges. In addition, the political and military situation in Ukraine also contributes to impacting the domestic situation, he said.
However, with the joint efforts made by the entire political system and citizens, the socio-economic situation in February and the first two months of the year continued to see positive changes, with continued recovery momentum in all fields, including industry, agriculture, and services.
PM Chinh therefore underlined the necessity of carefully discussing and accurately assessing the socio-economic situation in March and the first quarter, particularly as it will serve to help competent agencies devise flexible, creative, and appropriate tasks and solutions. This can serve to boost economic recovery and development as well as being the foundation for promoting socio-economic development for the entire year and achieving the goals set out by the 13th National Party Congress, he stated.
According to Minister of Planning and Investment Nguyen Chi Dung, during the reviewed period that the macro economy remained stable, along with a low inflation rate, maintaining major balances and ensuring food and energy security.
This comes as the CPI in February and the first two months of the year increased by 1.42% and by 1.68%, respectively. Exchange rates on the monetary market remained stable, with lower interest rates, while credit growth stood at 1.82% compared to late 2021.
The industrial production index in February expanded by 8.5% over the same period from last year, in which the manufacturing industry was still the main driving force.
Trade and services flourished, with total retail sales of consumer goods and services in February growing by 3.1%, while the number of international visitors increased by 49.6% over the previous month, a rise of 169% over the same period from last year.
State budget revenue during the opening two months of the year reached 22.9% of the estimate, up 10.8% over the same period, thereby meeting spending targets, especially spending on pandemic prevention and support for social policy beneficiaries.
Disbursed public investment in the first two months of the year met 8.61% of the plan, a figure 5.09% higher than the same period last year, while the additional registered FDI capital throughout the reviewed period increased by 123.8%. This serves to highlight demand among foreign investors for investment, along with their expectations for economic recovery and further development.
Import and export in February and during the two-month period rose by 17.6%, an increase of 13% over last year's same period, of which exports surged by 10.2% and imports increased by 15.9%.
Regarding pandemic prevention and control measures, the Ministry of Health said that it will continue to drastically implement Government Resolution 12 regarding the safe, flexible adaptation, and effective control of the COVID-19 pandemic, particularly through the rapid deployment of the Spring vaccination campaign.
Vietnam has so far received over 218 million vaccine doses, with approximamtely 202 million doses being used.
The PM underlined the need to monitor developments in the region and the world, proactively take measures to respond in a timely manner, firmly safeguard territorial sovereignty, and intensify strict border controls.
It is imperative to implement the external activities of Party and State leaders, promote economic and medical diplomacy, and international co-operation in response to the pandemic, PM Chinh stressed.
It is also essential to take measures to ensure the highest standards of security and safety in terms of life, property, and the legitimate interests of Vietnamese citizens and legal entities in Ukraine and relevant places. Indeed, the country should be ready to initiate plans to bring Vietnamese people back home, he added.
