During a recent address at the National Assembly, Le Minh Hung reiterated the government's commitment to achieving double-digit economic growth while keeping a strong focus on macroeconomic stability.
Addressing the Hai Phong delegation, the Prime Minister underlined the necessity of balancing economic aspirations with sustainability, cautioning that growth should not undermine financial equilibrium or pose long-term challenges.
He acknowledged the valuable and varied insights provided by National Assembly delegates, which mirror public expectations and aid in crafting a well-rounded socio-economic development strategy. The administration is also prioritizing reforms to streamline reporting and enhance data integration for greater transparency and efficiency.
To achieve robust growth, significant structural reforms and collaborative efforts across different sectors are imperative. The Prime Minister emphasized the review of existing legal frameworks, simplification of administrative processes, and the harnessing of digital transformation to enhance governance.
A central aspect of the government’s plan involves three strategic breakthroughs: institutional reforms, developing infrastructure, and improving human resource quality. These foundational elements are anticipated to foster sustainable growth in the future.
He also highlighted the importance of unlocking resources trapped in inactive projects, noting that resolving these issues could significantly boost economic growth without solely depending on new initiatives.
Additionally, the government aims to elevate investment levels, targeting a total social investment of approximately 40% of GDP. However, attracting private and foreign investments will hinge on sustaining a transparent and reliable legal framework.
In closing, the Prime Minister reiterated that maintaining macroeconomic stability is essential for all growth initiatives. He cautioned against "overheating growth" and stressed that sustainable development must ensure a balance between expansion and stability, alongside effective risk management.
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