Prime Minister: Not accepting hot growth in exchange for macroeconomic instability

Things that can be done immediately for businesses and people

On the morning of April 10, the National Assembly discussed in groups about socio-economic development plans and the state budget.

Speaking at the group discussion session, Politburo Member, Prime Minister Le Minh Hung said that the goal of this term is double-digit growth. The most important point that the Government reports and requests to all levels, sectors, and agencies directly under the Government is to unify from thinking and action. This is a particularly important requirement, we must achieve that goal.

Emphasizing strategic breakthroughs in institutions, the Prime Minister likened institutions to a path to create a smooth corridor for Vietnam's economic vehicle to develop. The Politburo is assigning the Central Policy and Strategy Committee to study and submit to the Central Committee, the 3rd Central Conference Resolution on innovation of the growth model.

Before that resolution, we are still continuing to make efforts, the Vietnamese economic vehicle is still running. Still that vehicle, but if there is a synchronous mechanism like a high-quality upgraded road, we can still achieve a higher speed," the Prime Minister said and pointed out that the mechanism is still the most crucial issue to decide.

The Head of Government stated clearly that in 2026, a series of institutional issues must be resolved thoroughly. In the second quarter of 2026, the Government will coordinate to thoroughly resolve obstacles in regulations to create conditions for local authorities at both levels to operate smoothly and effectively.

2026 is a year of focusing on grassroots levels and taking the goal of strengthening and consolidating the quality of cadres at the grassroots level as an action motto for the work of perfecting the organizational structure.

The Prime Minister said that accompanying the institution is administrative reform, business conditions, and improving the capacity and quality of implementing regulations.

Yesterday (April 9), the Government requested the Ministry of Justice to coordinate with ministries and sectors to conduct a general review of administrative conditions and business procedures. It is necessary to resolutely cut down on time, compliance costs, conditions and business procedures.

The Prime Minister has assigned Deputy Prime Ministers assigned to be in charge of ministries and sectors to directly work with the Ministry of Justice and ministries and sectors to submit to the Government on the plan for reduction by April 15.

This is something we can do immediately to support the business community and people, create trust in mechanisms and policies and reduce compliance costs, economic costs and thus promote investment production and business activities," the Prime Minister said and emphasized that these are the most important institutional measures.

Growth must be accompanied by stability

Regarding infrastructure, the Prime Minister said that delegates talked a lot about the reserve strategy. In the Government's report to the National Assembly, there is a plan to build national reserves for some essential commodities, not just for gasoline and oil.

The Prime Minister clearly stated that growth must be accompanied by stability and control of major balances of the economy. We do not accept hot growth, high growth and trade for macroeconomic instability, because the price to pay for macroeconomic instability is much greater. The Prime Minister said that the Government is deeply aware of this and will have to take measures to ensure macroeconomic stability control.

The Government regularly directs ministries and sectors, especially the Ministry of Finance, the State Bank and the Ministry of Industry and Trade, to coordinate in handling issues related to regulating the gasoline and oil markets, and monetary policy to have measures to reduce strong impacts on the domestic market.

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