The estimated Gross Domestic Product (GDP) for the first quarter of 2023 in Vietnam is expected to increase by 3.32% compared to the same period last year. Although the added value of the agriculture, forestry and fishery sector increased by 2.52%, contributing 8.85% to the overall growth, the service sector increased by 6.79%, contributing 95.91%. However, due to the high cost of input production, some major industries such as electronics, textiles, leather and footwear, and wood products experienced a sharp decrease in order volume as some trading partners implemented tight monetary policies to prioritize inflation control and protective measures to maintain growth, resulting in a 0.4% decrease in added value in the industrial and construction sector, reducing 4.76% from the overall growth. In particular, the added value of industrial sectors in the first quarter of 2023 decreased by 0.82% compared to the same period last year.

While some localities experienced high growth in their industrial production index, many others had very low or even decreased industrial production due to market factors, especially in processing and manufacturing industries and mining.

With the increasingly complex and unpredictable global political and economic situation, Vietnam’s open economy is forecasted to face many difficulties and challenges in the coming time, especially in production and business activities, construction investment, and import-export activities.

In this context, the Prime Minister requested all levels, sectors, and localities to proactively fulfill their functions, tasks, and delegated powers, focus on resolute direction, and guide the handling and removal of difficulties and obstacles within their jurisdiction, such as legal procedures, administrative procedures, access to capital, business conditions, banking liquidity, debts, taxes, fees, etc., to support enterprises, accelerate the implementation of major investment projects, and strengthen inspection and correction of existing negative factors to promptly promote production, business, investment, construction, and import-export activities and maintain and enhance the driving forces of economic growth such as investment, exports, and consumption.

In the coming time, the Prime Minister will assign Government Members and leaders of relevant ministries and sectors to work directly with each locality to promptly grasp the difficulties and obstacles in production, business, investment, and import-export in each locality, clarify the causes, propose specific, feasible, and effective solutions to quickly restore growth and successfully implement the tasks and objectives of socio-economic development in 2023 and the term 2021 – 2026.

To implement these contents and tasks in a timely and effective manner, the Prime Minister requests:

1. Chairpersons of People’s Committees of provinces and centrally-run cities to direct the review and report on the situation of production, business, investment, and import-export activities in their areas, especially the production and business activities of sectors that contribute significantly to growth, key investment projects, specific proposals and recommendations… (the outline of the report is attached), sending it to the Ministry of Planning and Investment before April 13, 2023 for general compilation of the issues that need to be addressed and resolved in localities and for the expected assignment of Government Members to lead work with localities; at the same time, send it to relevant ministries and sectors for information and proactive coordination with the Ministry of Planning and Investment during the implementation process.
2. The Ministry of Planning and Investment to directly monitor and urge localities to prepare reports; lead and coordinate with relevant ministries and agencies to propose the assignment and develop a working plan for Government Members after receiving the quick reports from localities, ensuring scientific, effective, practical, and avoiding superficiality or general calls; compile the reports of localities, classify the issue groups, and submit them to the Prime Minister and the assigned Government Members for work coordination.

3. Relevant ministries, sectors, agencies, units, and localities have the responsibility to closely coordinate with the Ministry of Planning and Investment in implementing the assigned tasks of the Prime Minister, ensuring timely, effective, and compliant implementation.