Post by : Shakul
Le Minh Hung has reaffirmed the government's commitment to reaching double-digit economic growth while ensuring robust macroeconomic stability during discussions at the National Assembly.
During a session with the Hai Phong delegation, the Prime Minister underscored the need to harmonize economic aspirations with stability, asserting that growth should not result in financial imbalances or long-term vulnerabilities.
He acknowledged that National Assembly members provided essential and varied perspectives, mirroring public expectations and contributing to a holistic approach to socio-economic development. The government is also evaluating reforms to streamline reporting procedures and unify data for enhanced transparency and efficiency.
The Prime Minister indicated that realizing significant growth will necessitate substantial structural reforms and cooperative efforts across all sectors. He emphasized reviewing legal frameworks, simplifying administrative processes, and harnessing digital transformation to enhance governance.
A central element of the government’s strategy involves executing three key breakthroughs, encompassing institutional reforms, infrastructure development, and improving human resource quality. These foundations are anticipated to propel sustainable growth in upcoming years.
He further highlighted the importance of freeing up resources tied to halted projects, stating that resolving current bottlenecks could greatly aid economic growth without solely depending on new sources of expansion.
The government also plans a significant boost in investment, targeting total social investment to reach approximately 40% of GDP. However, the Prime Minister noted that attracting private and foreign investments will hinge on a consistent and transparent legal framework.
In conclusion, he reiterated that macroeconomic stability is the backbone of all growth initiatives. He cautioned against “overheating growth” and stressed that sustainable development must find a balance between expansion and the management of economic stability and risks.
English
