During a group discussion on socio-economic development tasks held on May 23 morning, as part of the ongoing 9th session of the 15th National Assembly, Prime Minister Pham Minh Chinh emphasized the importance of not only promoting new growth drivers but also revitalizing traditional ones—namely exports, consumption, and investment.

The Government leader was quoted by the Vietnam News Agency as stressing the need to promote public investment as a catalyst for private investment, as well as to boost overall social and foreign investment.

Addressing the current challenges to export growth, the PM stressed the need to stay calm and ready for dialogue, and actively negotiate with partners, including the US, on the basis of harmonized interests and shared risks. He also highlighted the importance of expanding and diversifying both export markets and products in this context.

Regarding the consumption driver, he emphasized the need for supportive fiscal policies, including tax and fee reductions, increasing revenue while cutting expenditures, especially recurrent spending, boosting development investment, and reducing input costs for businesses.

For new growth drivers, the Government leader called for accelerating digital transformation and green transition, urging ministries, sectors, and localities to concentrate on the effective implementation of key resolutions issued by the Party, State, and National Assembly in these areas.

On the deployment of the two-tier administration model, it is necessary for a fundamental shift in administrative mindset—from passively responding to public needs to proactively and efficiently serving both citizens and businesses, including streamlining administrative procedures, minimizing intermediary steps, and enhancing data integration, the PM noted.

He also highlighted the importance of advancing decentralization and delegation of authority in parallel with the appropriate allocation of resources.

The PM also spotlighted four key pillars for promoting socio-economic development – the Politburo’s resolutions on breakthroughs in science and technology development, innovation, and national digital transformation; international integration; reforming lawmaking and law enforcement; and developing the private economic sector.