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PM orders speedier realization of recovery program

VGP - Prime Minister Pham Minh Chinh has decided to establish a Steering Committee responsible for speeding up the realization of socio-economic recovery and development program.

April 29, 2022 9:56 PM GMT+7
PM orders speedier socio-economic recovery program realization  - Ảnh 1.

Prime Minister Pham Minh Chinh (C) chairs the monthly Government cabinet meeting, Ha Noi, April 29, 2022 - Photo: VGP/Nhat Bac

The Committee will be led by Deputy Prime Minister Le Minh Khai, said Pham while presiding over the Cabinet meeting on Friday to review socio-economic performance in the first four months this year.

The program was released by the Government last January, with the goal of recovering production and business activities of enterprises, economic organizations while promoting growth activities.

The program aims to stabilize the economy and ensure social security for people as COVID-19 pandemic has significantly affected the economy, having severe impacts on many aspects of life, society and the ability to implement annual socio-economic goals, targets and tasks and in 5-year period 2021-2025.

In addition, the Government chief also decided to set up six working groups headed by Deputy Prime Ministers, Minister of Planning and Investment, and Minister of Finance, in charge overseeing and stepping up the disbursement of public investment capital.

Continued recovery

In the first four months, total export and import values were estimated at US$122.36 billion and US$119.83 billion, respectively up 16.4 percent and 15.7 percent against the same period last year, official statistics show.

Foreign direct investment inflows into Viet Nam reached US$10.8 billion in foreign direct investment (FDI), equivalent to 88.3 percent of the amount recorded in the same period last year.

Notably, the disbursed volume of FDI rose by 7.6 percent to a record high of US$5.92 billion since 2018.

The nation's industrial production expanded 9.4 percent in April and 7.5 percent in the first four months.

The number of foreign arrivals to Viet Nam increased by 5.2 times compared to the same period last year./.