Hanoi (VNA) – On the basisof the nine-month results, Vietnam may achieve at least 10 of the 15 targets setfor this year, including all the social targets, Prime Minister Pham Minh Chinhsaid on October 23.

He made the remark while reporting onthe implementation results of the socio-economic development plan for 2023 andthe draft plan for 2024 at the opening sitting of the 15th-tenureNational Assembly’s sixth session.

The PM highlighted the continuedsocio-economic recovery, noting that the country has basically fulfilledoverall targets and gained many important results in different fields, andremains a bright spot of the global economy.

Duringthe first nine months, inflation was kept under control, growth promoted, andmajor balanced guaranteed. The gross domestic product (GDP) grew at 5.33% inthe third quarter and 4.24% during the nine months. The consumer price index (CPI)increased 3.16%. The monetary and foreign exchange market was basically stablewhile interest rates declined. Foreign trade gradually went up month on month,with a nine-month trade surplus of nearly 22 billion USD. Energy and food securitywas safeguarded while the labour market bounced back.

Hereported that cultural and social aspects have given attention and investmentas seen in the full and timely implementation of policies supporting revolutioncontributors, guaranteeing social security, and assisting people andbusinesses. The rate of poor households as calculated according tomultidimensional standards has been brought by 1.1% to 2.93%. While the quality of general,higher, and vocational education has continued to improve, human resources connectedwith science - technology, innovation, digital transformation, green economy,digital economy, and digital society has also been further developed. Vietnam ranks 46th among the 132 economies in the Global Innovation Index 2023, up two places fromlast year.

PM Chinh also underlined the maintainedfocus on ethnic minority, religious and belief policies; reforms in thebuilding and perfection of laws, mechanisms and policies; firmly maintained socio-politicalstability, territorial integrity, political security and social order andsafety; and vibrant diplomatic and international integration activities which haveobtained significant and historic results, creating new chances for boostingnational development and raising Vietnam’s role, stature and prestige in theinternational arena.

However,there are shortcomings and problems needing more efforts to be addressed. In particular,economic growth has yet to meet the target, macro-economic stability hasn’tbeen truly steady due to high external pressure, production and businessactivities still face numerous difficulties, and the implementation of somecontents of the national target programmes and the socio-economic recovery anddevelopment programme remains slow. Some mechanisms, policies, and legalregulations are still contradictory with or overlapping each other, accordingto the Government’s report.

Chinh blamed the problems mainly on the fast, complex andunpredictable developments in the regional and international situations. Meanwhile,he added, Vietnam is a developing country, and its economy is still in thetransition process and has a low starting point, modest size, big openness, alongwith limited competitiveness and resilience to external shocks. The implementationof laws and policies is also a weak point.

Forthe remaining months of 2023, the Government will continue giving priority topromoting growth, keeping macro-economic stability, controlling inflation,guaranteeing major economic balances, taking measures for strongly boostinggrowth drivers (investment, consumption and export), and grasping opportunitiesin the domestic and international markets during the year-end and New Yearholidays.

Itwill speed up the approval of plans and disbursement of capital for publicinvestment, the socio-economic recovery and development programme, and thethree national target programmes. It will press on with tackling production andbusiness difficulties and strive to achieve the highest possible results for2023, including a GDP growth rate of over 5% and inflation of 3.5 - 4%, PMChinh went on.

The Government predicted that in 2024,the world situation will remain complicated and unpredictable while the country’seconomy will continue to suffer from “dual negative impacts” of adverseexternal factors and internal shortcomings.

Itset 15 main targets for next year, including GDP growth of 6 - 6.5%, per capitaGDP of 4,700 - 4,730 USD, the processing and manufacturing industry making up24.1 - 24.2% of GDP, a CPI increase of 4 - 4.5%, labour productivity up 4.8 -5.3%, the rate of trained manpower at about 69%, an unemployment rate of lessthan 4% in urban areas, the rate of poor households down by over 1%, the Statebudget revenue up about 5%, and the State budget overspending at under 4% ofGDP./.