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| Party General Secretary Nguyen Phu Trong (centre) speaks at the meeting in Hanoi on July 21. (Photo: VNA) |
The Politburo and the Secretariat basically agreed on the assessments of the H1 socio-economic situation in a report delivered by the Government’s Party Civil Affairs Committee.
Accordingly, the macro-economy has been kept stable, inflation under control, major balances guaranteed, and growth promoting measures carried out strongly.
The report highlighted encouraging results in administrative reform; the improvement of the investment and business climate; the acceleration of key and nationally important projects; cultural, social, labour, employment and social security affairs; the fight against corruption and negative phenomena; the enhancement of thrift practice and wastefulness prevention; the safeguarding of independence, sovereignty and territorial integrity; the maintenance of political and social stability; along with external relations and international integration.
It also pointed out that due to various difficulties facing the world economy, the slow recovery of global trade, the increasingly complex geo-political situation and some domestic problems, economic growth has yet to meet expectations, at 3.72% in H1. In particular, the industry and construction sector posted slow expansion while others witnessed declines.
Meanwhile, administrative procedures in some sectors remain cumbersome and complicated; several mechanisms, policies and legal regulations still overlapping and inconsistent; the shortages of electricity and medical supplies yet to be solved thoroughly; and there are latent security risks, especially in terms of cyber security, drug crime and “black credit”, in some areas.
Basically agreeing on the tasks and measures set for H2, the Politburo requested staying steadfast in the target of maintaining macro-economic stability, controlling inflation, boosting growth, and ensuring major balances of the economy.
In particular, it is necessary to keep a close watch on and issue precise forecasts of the domestic and international situations to make timely policy response; continue a focus-driven fiscal policy; give assistance to people and businesses to reduce expenses and facilitate production; and maintain a proactive, flexible, timely, and effective monetary policy that is closely coordinated with the fiscal policy.
The Politburo demanded strongly and effectively implementing the tasks and measures of the socio-economic recovery and development programme, as well as the three national target programmes; accelerating public investment disbursement; ensuring the safe, healthy and sustainable operations of the corporate bond, real estate, stock, credit and science - technology markets; guaranteeing fuel and power supply for economic and daily activities; facilitating domestic production and consumption; and diversifying markets and export commodities.
It ordered developing new economic growth drivers; optimising external resources to promote innovation, digital economy and digital transformation; completing the development strategies and policies for sectors; and finalising the legal framework for the development of a carbon market.
In addition, the Politburo underlined the need to continue paying attention to social security; the labour market; cultural affairs; education; health care; the material and spiritual lives of ethnic minority people; the safeguarding of independence, sovereignty, territorial integrity; the maintenance of political security and social order and safety; along with diplomatic activities and international integration.
The Politburo emphasised the request for further enhancing the fight against corruption and negative phenomena; thrift practice and wastefulness prevention; complaint and denunciation settlement; and the investigation into the cases monitored by the Central Steering Committee for Corruption and Negative Phenomena Prevention and Control.
It also asked for increasing communications to help strengthen the great national solidarity, businesses and investors’ trust, the fight against wrongful and harmful information./.