Chaired by Prime Minister Pham Minh Chinh, the government’s November meeting took place on December 6, where it reviewed socio-economic performance in the January-November period, including the disbursement of public investment capital, the Government News has reported.

The government also discussed the realization of three national target programs on socio-economic development in ethnic minority and mountainous areas, new-style rural area construction, and sustainable poverty reduction.

A draft resolution from the government on main tasks and solutions to implement the socio-economic development plan and State budget estimates for 2024 was also up for discussion.

According to a report presented at the meeting, Vietnam’s total trade in the period stood at nearly $588 billion, down 9 per cent year-on-year, with exports falling 6 per cent and imports 12 per cent.

Trade was in surplus to the tune of $24.44 billion as of November 15.

The disbursement of FDI capital rose to a five-year record of $20.25 billion while total foreign investment inflows neared $28.85 billion, up 14.8 per cent year-on-year.

Meanwhile, over 1.23 million international tourists arrived in November, an 11 per cent increase month-on-month and the highest number since early this year. The total number of foreign tourists reached 11.2 million in the first eleven months, 3.8-fold higher than in the same period of last year and equal to 68.9 per cent of the figure in 2019, prior to Covid-19.

The country’s total retail sales of goods and services increased 9.6 per cent year-on-year to over VND5.6 quadrillion ($230.7 billion).

According to a report from the Vietnam News Agency, in his address to the meeting, Prime Minister Chinh demanded that priority be given to promoting economic growth and securing the best possible results in indicators failing to meet targets this year.

He said that thanks to the strong engagement and determination of the entire political system, people, and businesses under the Party’s leadership, the socio-economic situation continued to be positive in November and achieved general targets and significant results in different fields.

The macro-economy remains stable, inflation has been contained, with an eleven-month increase of 3.22 per cent, economic growth has been boosted, and major balances in the national economy have been guaranteed.

The government leader also underlined the necessity of pushing ahead with the growth drivers of investment, exports, and consumption, particularly during the year-end period; strongly bolstering development in the six socio-economic regions; fostering economic expansion in big cities to fuel growth; grasping opportunities generated from global and regional production, trade, and investment chains; drawing investment to the semiconductor and electronics industries; and attracting green finance and credit to renewable and new energy development.

It is also necessary to boost intra- and inter-regional connectivity, develop science, technology and innovation to serve emerging sectors, firmly maintain traditional markets, and explore new markets, particularly the Middle East, Africa, and South America, the Prime Minister said.