Double-digit growth target remains unchanged: PM

Double-digit growth target remains unchanged: PM

Prime Minister Phạm Minh Chính reaffirmed the double-digit growth target, citing resilient first-quarter performance despite mounting global risks and domestic challenges.

Prime Minister Phạm MInh Chính chairs the Government meeting on Saturday. — VNA/VNS Photo

Prime Minister Phạm Minh Chính stressed the steadfastness in the double-digit growth target while chairing the Government’s regular meeting for March and the Government-to-locality teleconference reviewing the first-quarter performance on Saturday.

In his opening remarks, PM Chính pointed out that the first months of 2026 saw many new, complex, and unpredictable developments in the world, including changes in the US tariff policies and countries’ varying reactions, the ongoing conflict in Ukraine, the escalating tensions in the Middle East that have disrupted supply chains, rising fuel prices and transportation costs, and volatile global commodity, financial, currency, and precious metal markets with increased risks and uncertainty.

Domestically, the 14th National Party Congress, the election of deputies to the 16th National Assembly and people's councils at all levels for the 2026–31 term, and the second session of the 14th Party Central Committee were held successfully, demonstrating the confidence, will, determination, and new vision of development in the new era.

He highlighted the relatively positive and comprehensive development in various aspects over the first three months, with numerous sectors achieving breakthrough growth and many localities emerging as bright spots, thanks to the decisive engagement by the entire political system, the people, and the business community under the direction of the Politburo and the Secretariat, headed by General Secretary Tô Lâm.

Specifically, the macro-economic situation was basically stable, inflation under control, growth promoted, major balances ensured, social security and people's living standards guaranteed, national defence and security strengthened, foreign relations enhanced, the country's prestige and stature elevated, and the people's trust in the Party and the State consolidated.

However, the Government leader also noted that Việt Nam still faces certain limitations, shortcomings, difficulties, challenges, and risks. The pressure on macro-economic governance is immense, challenges to ensuring national energy security are emerging, and the Q1 growth was high but still failed to meet the set target, partly due to long holidays.

While administrative procedures remain cumbersome, the decentralisation and delegation of power are not thorough or effective enough, online public services are not yet truly convenient, some commune-level administrations still need reinforcement, and food safety remains complex, he added.

Given this, the PM asked officials to analyse the situation, review the direction of socio-economic development in March and Q1, assess the timeliness, flexibility, and effectiveness of responses to new global developments, as well as look into development results, problems and the lessons learned.

He also requested that they propose key tasks and measures for the coming period, including how to achieve high growth while maintaining macro-economic stability, controlling inflation, and ensuring major economic balances.

Emphasising that the double-digit growth target remains unchanged, PM Chính called on participants to work out measures for renewing traditional growth drivers, promoting new ones, properly governing monetary and fiscal policies, stepping up public investment, and diversifying markets, products, and export supply chains.

They should also identify focal tasks in the fields of culture, society, environment, national defence, security safeguarding, and foreign affairs, he noted.

At the conference, officials are set to review the socio-economic situation in March and Q1, the implementation of Government Resolution 01, the allocation and disbursement of public investment capital, the implementation of national target programmes, the performance of the Government and the PM in March and Q1, and some tasks needing attention in April and beyond.

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