Hanoi (VNA) ♕- Prime Minister Pham Minh Chinh has called on ministries and local authorities to work together to reach an economic growth target of 8.3 - 8.5% in 2025 and double-digit growth in the following period, while cautioning that the challenges ahead will outweigh the opportunities.

Chairing the Government's regular meeting on August 7, connected virtually with leaders from all the 34 provinces and cities, PM Chinh praised contributions to the socio-economic performance in the first seven months of the year while highlighting several challenges in macroeconomic management, business and production operations, growth drivers, legal institutions, realty and gold markets, and the implementation of the two-tier local administration model. He ordered the removal of bottlenecks related to the new governance system, ensuring local administrations work harmoniously and seamlessly, serving residents and businesses alike. Among the top priorities is housing difficulties for relocated public employees. The Government leader also called for a firm grasp of global and domestic dynamics to respond swiftly and flexibly. Maintaining macroeconomic stability, curbing inflation, and ensuring key economic balances were emphasised as critical tasks. He requested close and effective coordination between fiscal and monetary policies, rational credit growth, lower lending rates, tighter management of the gold and foreign exchange markets, and rollout of concessional credit programmes and tax and land initiatives. Ministries, sectors, and localities must prioritise economic growth, renewing traditional growth motives, and promoting new drivers, he said, urging stronger efforts in public investment disbursement, aiming at over 1 quadrillion VND (38.15 billion USD) into the economy. He ordered diversification of markets, products, and supply chains as well as the building of an independent and resident economy with substantive and effective international integration. PM Chinh demanded thorough supervision of the implementation of key national resolutions in all ministries, agencies and localities, emphasising clear accountability. He emphasised the importance of securing vital supplies, especially food, fuel, and raw materials for production. The PM requested completion of reports and a draft resolution on developing healthcare, education, and culture in the coming time, as well as a review of the programme to do away with substandard houses.

Looking ahead to major national celebrations, including the 80th anniversaries of the People's Public Security Force, August Revolution, and National Day, PM Chinh requested detailed preparations for groundbreaking ceremonies, exhibitions, and firework displays in all 34 provinces and cities.

The PM also pointed out that ministries, sectors, and localities should continue to prevent smuggling, trading in fake goods, commercial fraud, and intellectual property violations, especially those related to medicine and food.

They should work to control and promote the healthy development of the real estate, gold, and securities markets, resolve obstacles for backlogged projects related to land and electricity, and carry out site clearance for the North-South high-speed railway and the Lao Cai - Hanoi - Hai Phong railway projects.

In the first seven months of 2025, the Government and PM issued over 3,880 direction documents and held 241 meetings and conferences, many of them were online nationwide events, to address pressing economic and social issues, ensuring defence-security and promoting economic diplomacy and international cooperation across multiple fields.

According to official data, during the period, Vietnam’s consumer price index (CPI) rose 3.26% year-on-year, while the index of industrial production (IIP) grew 8.6%. The country recorded exports of 262.4 billion USD, up 14.8%, with a trade surplus estimated at 10.2 billion USD. Foreign direct investment (FDI) reached nearly 24.1 billion USD, marking a 27.3% increase, and international tourist arrivals hit 12.2 million, up 22.5%.

𓂃 Efforts to improve social welfare were also notable, with nearly 269,000 dilapidated houses replaced or renovated, meeting 98% of the national housing support plan, and the goal of providing housing for people with meritorious service completed ahead of the July 27 deadline./.