Positive signals seen in two-month socio-economic development: PM

Participants also discussed national target programmes, public investment disbursement, the implementation of Government’s Resolution No. 25 on management and operations, rice production and export, as well as key areas for the coming period.

Opening the meeting, PM Chinh highlighted that the country enjoyed socio-economic progress across all fields so far this year compared to the same period last year.

The macro-economic landscape has remained stable, with inflation under control, and key economic balances secured, he noted, adding that growth has been spurred, with positive signals emerging across agriculture, industry, and services. The cultural and social sectors have also received increased focus, while political and social stability, national security, and defence have been maintained and strengthened. Additionally, foreign relations have been expanded and deepened, he said.

However, the leader warned that the country’s economy remains relatively small, highly open, and vulnerable to external shocks.

He asked Government members to thoroughly assess the socio-economic situation, highlighting successes, areas for improvement, and lessons learned from February, while analysing major issues emerging in March, with an emphasis on maintaining macroeconomic stability, fostering growth, controlling inflation, and managing monetary and fiscal policies effectively.

The PM urged participants to propose management and direction solutions to achieve at least 8% growth in 2025, contributing significantly to the successful implementation of the 2021-2025 socio-economic development plan.

According to the Ministry of Finance, the country’s socio-economic performance in the first two months has been notably positive, surpassing both the previous month and the same period last year. Both domestic and international businesses, investors, and international credit rating agencies have shown greater confidence in the nation’s economic prospects.

The consumer price index (CPI) in the two months increased 3.27% compared to the same period last year. State budget revenue reached 25.4% of the annual estimate, up 25.7%. The export-import turnover grew by 12%, with a trade surplus of 1.47 billion USD. Foreign direct investment (FDI) inflow reached over 6.9 billion USD, a rise of 35.5%, while FDI disbursement hit nearly 3 billion USD, up 5.4%.

Industrial production has seen strong growth, with the index of industrial production (IIP) up 16.7% in February and 7% in the two-month period.