WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Industry
Vietnamese Gov’t disburses $3.7 billion for socio-economic recovery
Ngoc Mai 17:51, 2023/05/05
Efforts to improve social security and people's living standards will continue to be the government's focus.

The Vietnamese Government has disbursed VND86.8 trillion (US$3.7 billion), or nearly 25% of the VND350 trillion (US$15.4 billion) socio-economic recovery program.

 Prime Minister Pham Minh Chinh at the meeting. Photos: Nhat Bac

This was informed today [May 5] by Prime Minister Pham Minh Chinh at the monthly government meeting.

The Prime Minister noted that Vietnam's macroeconomic situation has remained stable, with key balances secured, inflation controlled, and growth sustained. "In particular, inflation has been gradually declining in recent months, while the country's trade surplus stood at $6.35 billion in the first four months of the year".

Vietnam has exported nearly three million tons of rice, ensuring energy security, labor market recovery, and social security.

"The country's defense, security, and national sovereignty have been maintained, and external and integration activities have been expanded," Chinh said.

However, Chinh said the economy continues to face challenges from external factors, including persistently high global inflation and lower-than-expected global growth. He also cited economic risks such as the pandemic, natural disasters, climate change, economic security, and cyber security.

 Overview of the meeting. 

"There are potential difficulties in the corporate bond and real estate markets," he said.

Despite these challenges, the Prime Minister believes it is crucial to remain objective and make greater efforts to respond more quickly and effectively with appropriate solutions.

He added that since April, the effects of the measures and solutions implemented since the beginning of the year to alleviate the difficulties are beginning to show.

"The month also marks a recovery in service activities, especially tourism, which has led to numerous positive changes in areas such as the corporate bond market, the real estate sector, public investment, and the removal of bottlenecks in the economy's cash flow," Mr. Chinh said.

"Reputable international organizations such as the IMF, ADB, and OECD continue to forecast a positive outlook for Vietnam's economic growth in 2023," he added.

For instance, international visitors to Vietnam reached an estimated 984,000 arrivals, up 9.9% from the previous month and 9.7 times higher than the same period last year. Business registration in April was more positive, with nearly 16,000 newly registered enterprises, up 12.3% from the previous month in terms of the number of enterprises and 6.2% in capital.

Production and business activities remained steady, and some sectors experienced significant growth.

“The focus for the coming time would be to improve social security and people's living standards,” Chinh said.

RELATED NEWS
TAG: Vietnam news pham minh chinh vietnam socio-economic recovery vietnam social security vietnam people\'s living standards vietnam
Other news
16:05, 2025/01/21
Sustainable fuel incurs new costs for Vietnamese airlines
Vietnamese airlines have been active in adopting Sustainable Aviation Fuel (SAF), making Vietnam's aviation sector greener.
21:12, 2025/01/12
Hanoi prioritizes key industrial products
The city is offering incentives to key manufacturers of industrial products, focusing on improving the business environment, advancing science and technology, and improving human resources.
16:42, 2025/01/12
AI set to drive Vietnam's economic growth in 2025
In 2024, Vietnam's digital economy saw a major uptick in interest in artificial intelligence (AI).
22:38, 2025/01/11
AEON Vietnam opens another department store in Hanoi
Vietnam remains AEON's second most important market in its medium- and long-term strategic plans.
22:32, 2025/01/09
Support measures to strengthen Hanoi's small businesses and local industries
In 2025, the geopolitical and economic landscape is expected to remain complex, affecting production, investment and trade activities.
17:17, 2025/01/08
European companies endorse Vietnam as investment destination
A large number of European companies foresee an improvement in the macroeconomic outlook for Vietnam in the first quarter of 2025.