Prime Minister Pham Minh Chinh on February 11 chaired a meeting between permanent Cabinet members and commercial banks to seek measures to drive economic growth, overcome challenges, and rein in inflation.
Addressing the meeting, which drew leaders of 20 commercial banks and the Vietnam Bank for Social Policy, PM Chinh emphasised the country’s achievements in 2024 which, he said was a challenging year. All the 15 key targets for the year were met, with 12 surpassing expectations, he noted.
After nearly 40 years of Doi Moi (Renewal), the country has never been in a stronger position, with its wealth, potential, global standing, and international reputation are at an all-time high, stated the PM. He acknowledged the critical role of the banking sector, especially commercial banks, in this growth.
Underlining that 2025 is an important year for progressing and achieving the goals set for the 2021-2025 period, the PM said the Government has targeted at least 8 percent growth this year, setting the stage for double-digit growth in the coming years. This momentum is key to reaching the goals set to mark the 100th founding anniversary of the Communist Party of Vietnam and the 80th anniversary of the country’s establishment.
He highlighted the global shifts and policies impacting Vietnam since the start of the year, prompting the organisation of this meeting to assess the current situation and gather input from businesses and banks.
He asked the participants to carefully examine the difficulties, challenges, and opportunities ahead, and to propose solutions that harness the banking sector to revitalise traditional growth drivers such as investment, export, and consumption, and boost new engines for the economy.
Additionally, the Government leader requested feedback on Government management, particularly regarding institution. He also underlined the need for the Government, ministries and sectors to identify their roles, responsibilities, timelines, and deliverables to support the banking sector’s growth.
Mr. Pham Minh Chinh highlighted leveraging the banking sector as a catalyst to unlock untapped potential, capitalise on opportunities, and build a competitive edge to fuel the nation's economic growth.
