Prime Minister Phạm Minh Chính stressed the need for enhanced economic cooperation during a meeting on March 8, aiming for an 8% growth target by 2025. He highlighted strategies such as maintaining macroeconomic stability, improving infrastructures, and fostering high-quality human resources. Cooperation with foreign partners was identified as essential for enhancing competitiveness amid ongoing global economic changes.
On March 8, Prime Minister Phạm Minh Chính underscored the critical importance of fostering economic cooperation to achieve an 8 percent growth target by 2025 and double-digit growth rates in subsequent years. During a Government meeting aimed at evaluating both regional and global economic circumstances, he acknowledged the significant challenges ahead while affirming the commitment to serve the nation and its people.
The Prime Minister pointed out that, in promoting economic growth, it is imperative to stabilize the macro-economy, manage inflation, and maintain essential economic balances, alongside prioritizing social progress and environmental sustainability. He instructed various ministries and local governments to ensure effective collaboration in implementing essential tasks and solutions across all sectors.
He emphasized the need for three strategic breakthroughs: enhancing institutional frameworks, improving infrastructure, and elevating the quality of human resources training. Renewing traditional growth drivers such as investment, exports, and consumption, as well as fostering new growth avenues, was deemed essential.
Mr. Chính called for an acceleration in public investment disbursement and the execution of key national projects, including the development of financial centers, free trade zones, and railway connectivity projects. He stressed the importance of transitioning to a greener growth model and advancing the knowledge economy, circular economy, and emerging industries, including semiconductors and artificial intelligence.
The Prime Minister recognized foreign economic cooperation as pivotal to economic growth, urging enhanced collaboration in trade and investment with key partners such as China, the US, Europe, Japan, and the Republic of Korea. Efforts should focus on enhancing competitiveness, transparency, and resilience while promoting effective international integration.
Monitoring market changes adaptively and implementing timely responses were considered crucial, especially in light of evolving economic and tariff policies of other nations. Mr. Chính also highlighted the need to maximize existing free trade agreements and expedite negotiations for new ones to diversify markets and supply chains.
In summary, Prime Minister Phạm Minh Chính has emphasized the necessity of economic cooperation as a means to achieve Vietnam’s ambitious growth targets. His address underlines the importance of macroeconomic stability, social progress, and environmental considerations while advocating for strategic innovations in various sectors. By enhancing collaboration with foreign partners and maximizing existing trade agreements, Việt Nam aims to strengthen its position in the global economy.
Original Source: vietnamnews.vn
