Government vows strongest resolve to achieve 2023 socio-economic targets

The Government will instruct ministries, agencies and localities to implement the 2023 socio-economic development plan with the greatest efforts and strongest determination, Minister-Chairman of the Government Office Tran Van Son said at the Cabinet regular press conference in Hanoi on January 3, citing Prime Minister Pham Minh Chinh.

Son briefed the press on outcomes of the national teleconference between the Government and the 63 cities and provinces, and the Government’s December meeting, which took place earlier the same day.

He highlighted the country’s achievements across spheres in 2022, particularly an 8.02% GDP growth, the highest over the past decade, surpassing the set target of only 6-6.5%, raising the economy’s size to 409 billion USD.

The consumer price index (CPI) last year increased 3.15%, lower than the target set by the National Assembly. State budget collection also exceeded the estimate by 27.8%, while export-import value reached 732.5 billion USD, up 9.5%, with a trade surplus of 11.2 billion USD.

Industrial production expanded by 7.7%, with manufacturing and processing growing 8.1%, remaining an economic driver. With a growth rate of 3.36%, agriculture continued to serve as an economic pillar, helping to ensure national food security.

Last year, 208,300 enterprises were established or resumed their operations, representing a year-on-year increase of 30.3%.

The participants also pointed to challenges and limitations that need to be addressed in 2023 and the following years, such as the great internal and external pressure and the sluggish disbursement of public investment, problems in the implementation of some policies included the socio-economic recovery and development programme, the three national target programmes, and the planning work, along with risks in stock, government bond and real estate markets.

According to Son, PM Chinh has required ministries, agencies and localities to concertedly implement solutions to ensure the macro-economic stability, control inflation, spur growth and ensure major economic balances, with a focus on the financial and monetary market.

The monetary policy should be rolled out firmly, flexibly and effectively in combination with the expansionary fiscal policy and others, the PM said, urging ministries, agencies and localities to perfect institutions, speed up administrative reform, focus on infrastructure construction and urban development and boost production.

Solutions are needed to effectively mobilise resources from State businesses in such sectors as energy, infrastructure for digital transformation, green transition and transport infrastructure, among others, the leader added.