Cabinet reviews socio-economic performance in January-July period

The Government observed a minute of silence in commemoration of late Party General Secretary Nguyen Phu Trong.

Following the passing of General Secretary Nguyen Phu Trong, compatriots, comrades and international friends have expressed their grief and respect over the immense loss, honoring his contributions to Viet Nam's development and its relations with international partners.

The entire Party and people organized the State funeral of General Secretary Nguyen Phu Trong in a solemn, thoughtful and safe manner.

Millions of people bid farewell to late General Secretary Nguyen Phu Trong. Hundreds of foreign countries and territories sent letters and messages of condolences to Viet Nam and the family of the late Party leader. Over 1,000 foreign delegations paid tribute to the Vietnamese Party chief.

The Prime Minister said that Politburo member, President To Lam was elected as General Secretary of the 13th Central Committee of the Communist Party of Viet Nam (CPV), securing 100 percent of the approval votes.

On behalf of the Government, Prime Minister Pham also expressed his deep sympathies to families of natural disaster victims.

Regarding socio-economic performance, Viet Nam continued to record positive growth pace in industrial production, agriculture, and service sectors.

Industrial production in July increased by 0.7 percent compared to the previous month and 11.2 percent against the same period last year.

Also in July, 60 out of 63 cities and provinces nationwide reported industrial production expansion and the Purchasing Managers’ Index reached 54.7 - the record high since November 2018.

The comsumer price index rose 4.12 percent in July, up 0.04 percent against June and core inflation increased by 2.73 percent.

Viet Nam shipped 5.18 tons of rice worth nearly US$3.3 billion, respectively up 5.8 percent and 25.1 percent compared to the same period last year.

 Foreign direct investment inflows to Viet Nam reached US$18 billion in the first seven months of 2024, representing a year-on-year increase of 10.9 percent.

In the January-July period, the amount of disbursed investment valued US$12.55 billion, up 8.4 percent against the same period last year.

 The Southeast Asian country welcomed nearly 10 million international arrivals in the first seven months, a year-on-year increase of 51 percent.

Prime Minister Pham said the Government will continue prioritizing macro-economic stabilization, inflation control, and acceleration of growth.

He tasked inferior levels to speed up the disbursement of public investment capital and the implementation of three national target programs on rural development, sustainable poverty reduction and socio-economic development in mountainous and ethnic minority areas.

Pham urged relevant ministries to mull over the amendments and supplementation to the Law on Public Investment, Bidding Law, Investment Law, Public-Private Partnership Law and Enterprise Law./.