Prime Minister Pham Minh Chinh presided over a regular Cabinet meeting connected online with the 63 provinces and cities on Monday to review the socio-economic situation in September and the first 9 months of 2024.

Prime Minister Pham Minh Chinh speaking at the event. Photo: TTXVN

Da Nang Party Committee Secretary Nguyen Van Quang and People’s Committee Chairman Le Trung Chinh co-chaired the city's broadcasting bridge point.

PM Chinh commended the efforts and responsibility of central and local ministries, branches and localities in drastically and effectively implementing the resolutions and conclusions of the Central Committee, the Politburo and the National Assembly in the spirit of the 2024 theme "Discipline, responsibility, proactiveness, timeliness, acceleration of innovation, sustainable efficiency".

The overall socio-economic situation in September, the third quarter, and the first nine months of 2024 continued to show positive recovery trends, with the performance one month better than the previous one and one quarter higher than the last.

The national leader required authorities of all levels, sectors, and localities to make every effort and take more drastic and effective actions to comprehensively and successfully implement the goals and tasks set for 2024 and create momentum for development in 2025.

Authorities must focus on addressing the aftermath of Typhoon Yagi, stabilising people's lives, promoting the recovery of production and business, restoring essential infrastructure, and controlling supply and prices of goods, he said.

Importance should be attached to promoting growth associated with maintaining macroeconomic stability, managing the monetary policy in a proactive, flexible, timely, and effective way, and coordinating it concertedly, harmoniously, and closely with the fiscal policy and other macroeconomic ones, Mr. Chinh noted.

The Government head also directed ministries, sectors, and localities to focus on accelerating and creating breakthroughs in public investment disbursement, and strive for a disbursement rate of at least 95%.

Emphasising the need to revitalise traditional growth drivers and strongly promote new ones, Chinh noted the importance of enhancing public-private partnerships; attracting foreign direct investment (FDI) with high technology and added value; efficiently exploiting large, traditional markets while promoting new ones; supporting businesses in marketing and trade promotion; and expanding cashless payments across the country.

Priority should be given to institution and law perfection, administrative reform, and national digital transformation, he highlighted.

Ministries and sectors must listen to the opinions and recommendations from the people, businesses, and international organisations so as to have timely solutions and organise implementation in a rational and effective manner, he noted.

He also asked for the strengthening of national defence and security, the intensification of the fight against corruption and other negative phenomena, and the improvement of international integration.

Da Nang Party Committee Secretary Nguyen Van Quang (left) and People’s Committee Chairman Le Trung Chinh co-chairing the city's broadcasting bridge point.

According to a report at the event, the national GDP growth increased by 7.4% in the third quarter, and by 6.82% in the first nine months of 2024. Macro-economic stability was maintained, inflation kept under control, and major balances ensured.

Viet Nam’s consumer price index (CPI) rose by 3.88% year-on-year in the first nine months of the year. Energy and food security, and the balance between labour supply and demand, were basically ensured. Export turnover increased by 15.4%, and import turnover went up 17.3%. Trade surplus was estimated at US$ 20.8 billion.

Foreign direct investment (FDI) attraction continued to be a bright spot, with total registered capital in the first 9 months reaching about US$ 24.8 billion, up 11.6% over the same period. The total retail sales of goods and consumer service revenue increased by 7.6% in September alone, and by 8.8% in the first 9 months. The service and tourism sectors recovered strongly, with international arrivals in the first 9 months being over 12.7 million, up 43.0%.

The political and social situation was stable, and national defence and security potential was strengthened. Foreign affairs and international integration, especially high-level foreign affairs, were proactively, synchronously, comprehensively and effectively implemented, constantly consolidating and enhancing the country's international position and prestige, and opening up new cooperation opportunities.

As of September 30, ministries, agencies and localities VND664.9 trillion in detail, reaching 98.1% of the plan assigned by the Prime Minister.

Reporting by VAN HOANG - Translating by M.DUNG, V.DUNG