“The country also should expand participation in social and health insurance; increase social allowances and develop plans to adjust the minimum regional wage.

“Particularly, it is crucial to fruitfully carry out work related to ethnic groups, religion, the elderly, youth, children and gender equality as well as work for the advancement of women,” said Deputy PM Khai.

The Deputy PM made the statement while presenting 11 key tasks and solutions to promote socio-economic development in the supplemental report on the implementation of the socio-economic development plan and State budget for 2023; the situation of deploying the socio-economic development plan and State budget in the early months of 2024, at the opening session of the seventh session of the 15th National Assembly on May 20 in Ha Noi.

Permanent Deputy Chairman of the National Assembly Tran Thanh Man chairs the session on May 20 in Ha Noi. Photo courtesy of the National Assembly

The session was chaired by Permanent Deputy Chairman of the National Assembly Tran Thanh Man. Additionally, Deputy PM Khai proposed other solutions such as prioritising the promotion of growth alongside macroeconomic stability, controlling inflation, ensuring major balances of the economy; and coordinating macroeconomic management policies effectively and harmoniously.

He added that the country had to resolutely accelerate the disbursement of public investment capital, strengthen trade promotion, improve the quality of drafting and promulgating legal documents; and simplify administrative procedures. It was necessary to focus on restructuring of the economy associated with renewing the growth model, improving productivity, quality, efficiency and competitiveness.

The country was told to expedite the advancement of significant national and interregional transportation infrastructure projects, with a particular emphasis on constructing 1,000km of expressways. The goal is to have approximately 3,000km of expressways operational by 2025.

It was requested to promote the development of digital infrastructure, early operation and commercial operation of 5G networks; emphasising the development of high-quality human resources associated with promoting research, development and application of science and technology, striving to reach 50,000-100,000 high-quality human resources for the semiconductor industry by 2030.

Moreover, it should strengthen natural resource management and environmental protection, disaster prevention and response to climate change.

He said that among the solutions, there was a focus on continuing to improve the State administrative apparatus, successfully implementing strategies and projects on military and national defence, enhancing national defence capabilities and security.

He also required the country to run comprehensive and effective foreign activities, international integration, intensify dissemination, especially, policy communication; timely combating and refuting misinformation, incorrect viewpoints and hostility.

He said that the task of implementing the socio-economic development plan for the remaining time of this year was very challenging.

“But with a spirit of unity, dynamism, innovation, creativity, we will overcome all difficulties, seize every opportunity, develop the economy and society rapidly, sustainably, ensure national defence, security and extensive international integration, effectively striving to reach the targets set for this year and the period 2021 – 25,” he said.

Achievements, challenges

Under the report, the socio-economic situation in the last months of last year continued to recover. The Gross Domestic Product (GDP) growth rate reached 5.05 per cent, lower than the set target but still high compared to the world and the region.

Deputy Prime Minister Le Minh Khai presents the supplement report at the opening session of the 7th session of the 15th National Assembly on May 20 in Ha Noi. Photo courtesy of the National Assembly

Inflation was controlled, with the average consumer price index (CPI) increasing by 3.25 per cent. Regarding the results achieved in the early months of this year, the macro economy was basically stable, inflation was under control and major balances were ensured.

The GDP growth rate in the first quarter of this year reached 5.66 per cent, the highest in the period of 2020-23. “This is a significant effort while the economy is facing many difficulties,” Khai said.

The average CPI for the first four months of this year increased by 3.93 per cent compared to the same period last year. In the first four months of this year, State budget revenue reached 43.1 per cent of the estimate, an increase of 10.1 per cent compared to the same period last year; export turnover increased by 15 per cent; trade surplus reached US$8.4 billion.

The economy maintained positive development momentum in all three regions nationwide. In addition, the Government continued to effectively implement social security policies, providing support to those who had made sacrifices for national liberation. This included measures aimed at reducing poverty, enhancing quality of life, and ensuring prompt and complete disbursement of social welfare benefits.

Viet Nam's human development index increased by eight ranks, ranking 107th out of 193th. The labour market and employment situation were actively recovering.

Participants at the session. Photo courtesy of the National Assembly.

The quality of healthcare services, basic healthcare and preventive medicine were improved; disease prevention and control were implemented effectively. Cultural, sports and tourism sector was given attention and promoted. Foreign activities and international integration were coordinated systematically and comprehensively.

Coordination between Party external relations, State diplomacy and people-to-people diplomacy were successfully implemented, contributing to maintaining a peaceful, stable and favourable external environment for development. However, Khai also pointed out that there were still limitations and difficulties. Specifically, economic growth had yet to reach the target. Production and business activities, access to credit still faced many difficulties; the rate of labour productivity growth failed to meet requirements; investment and business procedures were still cumbersome.

The lives of a segment of the population remained challenging; there were no apparent improvements in the development of high-quality human resources; some officials and civil servants lacked strict adherence to discipline; certain areas still experienced complex developments in terms of social security, order, and safety, and crime; natural disasters such as droughts, floods, saline intrusion, extreme weather and landslides persisted in their unpredictability, leading to severe consequences./.