Prime Minister Phạm Minh Chính delivers a speech on Việt Nam's socio-economic development at the national conference on Sunday. — VNA/VNS Photo Phương Hoa

HÀ NỘI — Prime Minister Phạm Minh Chính reported on national socio-economic development this year and solutions to accelerate the development in 2025 at a national conference held on Sunday.

The event was to launch the review of the implementation of Resolution No 18-NQ/TW issued by the 12th Party Central Committee.

The PM said all-level authorities, sectors, and localities have grasped the real situation and decisively, flexibly and effectively adopted tasks and solutions across different fields. In particular, they have prioritised boosting growth while maintaining macroeconomic stability, controlling inflation and ensuring major balances of the economy.

Focus has been given to implementing the three strategic breakthroughs, especially institutional reform, promoting power decentralisation, reducing and simplifying unnecessary administrative procedures and business conditions that trouble citizens and businesses.

Efforts have been made to create momentum and a foundation for the development of science and technology, while also facilitating entrepreneurship, innovation, and digital transformation.

Additionally, there is an emphasis on developing culture and society, guaranteeing social security; addressing consequences of natural disasters, especially Typhoon Yagi; enhancing national defence and security; combating corruption, misconduct and wastefulness; and stepping up foreign relations as well as integration into the world.

PM Chính highlighted many significant socio-economic results obtained during the first 11 months of 2024 that, he said, are better than the same period last year in almost all areas.

All the 15 main targets are expected to be achieved or exceeded, especially the growth target. The annual growth is estimated at over 7 per cent, making Việt Nam among the few posting high growth rates in the region and the world.

Meanwhile, macroeconomic stability continues and inflation is kept below 4 per cent.

By the end of November, total foreign trade is estimated at about US$715 billion, a 15.3 per cent increase, with a surplus of over $23 billion.

The whole year's turnover is projected to hit a record of $807.7 billion. Foreign direct investment (FDI) remains a highlight, placing Việt Nam among the top 15 developing countries attracting the most FDI globally.

However, he also pointed out several major shortcomings, particularly the institutional bottlenecks, noting that investment in financial and human resources for law-making has not matched requirements in reality.

He emphasised that all-level authorities, sectors, and localities must adopt a reformed and breakthrough mindset with strong determination, significant efforts, decisive actions and timely, flexible, and effective implementation in the spirit of ‘daring to think, daring to act, daring to break through for the common good.’

The PM said the year 2025 has been identified as a year of accelerating, making breakthroughs, tackling difficulties, and surmounting challenges to strive for the highest possible results for the five-year plan 2021-25.

Specifically, Việt Nam targets a GDP growth rate of about 6.5-7 per cent; per capita GDP of approximately $4,900; an average consumer price index (CPI) increase of about 4.5 per cent; an average labour productivity rise of 5.3-5.4 per cent; along with the household poverty rate under multi-dimensional standards reduced by 0.8-1 per cent.

Notably, the Government leader stressed that the country will strive to secure GDP growth of approximately 8 per cent GDP to create momentum for implementing the 2021-30 plan.

Next year, it will work to complete at least 3,000km of expressways, basically finish the Long Thành International Airport project, and eliminate temporary and dilapidated housing nationwide.

Outlining several groups of key tasks and solutions to realise the targets, he first highlighted the need to perfect the institutional framework, streamline the apparatus and enhance its efficiency and effectiveness, and build mechanisms and policies strong enough for cadres to think big, act bold, and dare to take responsibility for common interests.

Second, it is necessary to continue prioritising growth promotion linked with maintaining macroeconomic stability, controlling inflation, ensuring major economic balances with high surpluses, and keeping and accelerating growth to approximately 8 per cent.

The third group of solutions focuses on mobilising maximum social resources while the fourth promotes the development of strategic infrastructure, especially major and nationally important projects.

Solutions in the fifth group include ensuring electricity supply under all circumstances to meet both immediate and long-term needs for economic activities and consumption.

Sixth, he said, the country will have to push ahead with combating corruption, misconduct and wastefulness.

The seventh group of solutions focuses on boosting cultural development, guaranteeing social security, and proactively coping with natural disasters and responding to climate change.

Mentioning the last but not least solutions, the PM underlined the importance of ensuring political stability, firmly protecting national independence, sovereignty, and territorial integrity, and fostering foreign relations and international integration. — VNA/VNS