The meeting took place after the US Federal Reserve (FED) raised interest rates by 0.75 percentage points on July 27, while central banks in many countries have also repeatedly hiked interest rates in response to soaring inflation.

Prime Minister Pham Minh Chinh speaks at the meeting.

According to many ministries, sectors as well as domestic and international organisations, amid a global situation full of difficulties and uncertainties, especially the conflict in Ukraine and the unpredictable Covid-19 pandemic, the Government has maintained reality-based, flexible and effective governance. As a result, Vietnam has proved to be a bright spot in controlling inflation, stabilising the macro-economy, ensuring major balances of the economy, and posting strong growth recovery.

PM Chinh stressed that the top priority now is to continue macro-economic stability, controlling inflation, guaranteeing major balances, promoting economic recovery and growth, and fighting Covid-19.

He also stressed the importance of pressing on with economic restructuring, growth model reforms, scientific and technological application, digital transformation, green and circular economic development, energy transition, and climate change response, thereby creating the foundation for sustainable development.

He demanded monetary and fiscal policies be coordinated with other macro-economic policies in a harmonious, reasonable, flexible and effective fashion; public investment be strongly disbursed; and the socio-economic recovery and development programme be carried out fruitfully.

The Government leader also ordered the development of the domestic market; diversifying markets and boosting exports; intensifying the fight against smuggling and trade fraud; ensuring power supplies; guaranteeing food security; fostering the labour market; developing the capital, corporate bond and real estate markets in a safe, transparent, effective and sustainable manner; and maintaining strict control of prices, especially prices of strategic and essential goods.

Cabinet meeting looks into socio-economic situation

Vietnam reaped significant socio-economic achievements in the first half of this year despite global uncertainties and domestic difficulties, Prime Minister Pham Minh Chinh told an online conference between the Government and localities, and a regular Cabinet meeting on July 4.

Industrial parks, economic zones make important contributions to GDP growth

Vietnam has about 335 industrial parks across the country together with 17 economic zones, which play an important role in investment attraction and State budget collection.

Bac Giang strives to secure top position nationwide in economic growth in last 6 months

(BGO)- The provincial People’s Committee (PPC) of Bac Giang province held a monthly meeting chaired by PPC Chairman Le Anh Duong on June 17.

Driving forces for impressive economic growth

(BGO) - In the first 6 months of this year, the world economic and political situation and the Covid-19 epidemic were complicated and unpredictable. Increased economic risks affected the development of the country as well as the province. However, Bac Giang recorded an estimated GRDP growth rate of 24.03 percent. This is the highest achievement among 63 provinces and cities and also the best result the province has achieved so far.

Routes Asia 2022 helps Da Nang promote tourism development, economic recovery

The 16th Asian route development forum (Routes Asia 2022) was a success, providing a great database for its host - the central city of Da Nang, to promote its tourism to countries around the world, stated Vice Chairman of the city People’s Committee Tran Phuoc Son at a meeting to review the event on June 16.

Source: NDO/VNA