Prime Minister Pham Minh Chinh chaired the monthly Government meeting in Hanoi on November 4 to review the socio-economic performance in October and the first 10 months of this year.

Prime Minister Pham Minh Chinh speaks at the meeting (Photo: NDO)

The Ministry of Planning and Investment reported that the consumer price index in October went up 3.6%, and in the first 10 months of this year up 3.2% year on year.

Revenue to the State budget in the 10 months reached 86.3% of the annual estimate while the total export-import turnover rose by 5.6% and public investment disbursement was equivalent to 56.74% of the plan assigned by the Prime Minister.

In October, the index of industrial product rose by 4.1% year on year. Foreign tourist arrivals hit 1.1 million, bringing the 10-month figure to nearly 10 million, marking a 4.2-fold increase from the same period last year.

During January-October, there were over 183,600 new and reactivated enterprises, up 2.9% annually, and about 18 billion USD in foreign direct investment were disbursed, up 2.4%.

Cabinet members focused their discussions on several key issues, including salary reform, disbursement of public investment capital, and the three national target programmes. They also looked into stepping up the progress of key works, attracting foreign tourists to Vietnam, and stimulating innovation and administrative reform, thus creating favourable conditions for citizens and businesses in production and trade.

For the remaining months of this year, the PM requested actively and effectively following conclusions reached at the eighth plenum of the Party Central Committee, resolutions and conclusions of the Party, National Assembly and Government, with a focus on 2023 major tasks.

He clearly pointed out the overall objective, which is to continue prioritising economic growth, maintaining macro-economic stability, controlling inflation, and ensuring major balances of the economy.

To strongly step up driving forces of growth, he called for improving the efficiency of State-owned investment capital. Additionally, there should be innovative measures to attract investment from the entire society, with a particular focus on selectively choosing FDI in large-scale and hi-tech projects, especially in sectors like manufacturing and processing, electronics, semiconductors, and hydrogen.

To boost exports, the PM directed maintaining traditional markets while actively expanding new markets, particularly major and promising ones.

Regarding the domestic market, he suggested stimulating demand and continuing to spread the "Vietnamese people prioritise Vietnamese products" campaign while combating smuggling, trade fraud, and counterfeits while taking strict actions against violations.

Apart from industry, agriculture, tourism and services, he ordered developing services with potential and advantages such as transportation, logistics, education, health care, and banking.

The PM also underlined the importance of expediting the disbursement of public investment capital, the socio-economic recovery and development programme, and the three national target programmes. The target is to achieve a disbursement rate of at least 95% of the 2023 capital plan and complete the approval of planning by the end of this year.

Other tasks include actively recovering corporate bond and real estate markets, tackling difficulties in production and trade, ensuring social well-being services to leave no one behind, fine-tuning legal regulations in sci-tech market, and striving to meet or exceed the target of welcoming 13 million foreign tourists this year.

Ministers and heads of sectors were also urged to raise their sense of responsibility and focus on performing essential tasks, thereby contributing to meeting yearly targets.