Hanoi, April 4, 2026 – The Europe Today: Prime Minister Phạm Minh Chính has reaffirmed Vietnam’s commitment to achieving a double-digit economic growth target, despite mounting global uncertainties, while chairing the Government’s regular March meeting and a nationwide teleconference reviewing first-quarter performance on Saturday.
In his opening remarks, the Prime Minister highlighted the complex and unpredictable global environment in early 2026, citing shifts in U.S. tariff policies, the ongoing Russia-Ukraine War, and escalating tensions in the Middle East that have disrupted global supply chains. He also pointed to rising fuel and transportation costs, along with volatility in global commodity, financial, currency, and precious metal markets.
Domestically, PM Chính underscored the successful organization of key political events, including the 14th National Party Congress, elections for the 16th National Assembly and People’s Councils for the 2026–31 term, and the second session of the 14th Party Central Committee. These milestones, he said, reflect renewed confidence, determination, and a forward-looking vision for national development under the leadership of General Secretary Tô Lâm.
The Prime Minister noted that Vietnam recorded broadly positive and comprehensive socio-economic progress during the first quarter, with several sectors achieving breakthrough growth and multiple localities emerging as economic bright spots. Macroeconomic stability was largely maintained, inflation remained under control, major economic balances were secured, and social welfare and living standards improved. National defence and security were strengthened, foreign relations expanded, and the country’s global standing continued to rise.
However, PM Chính acknowledged persistent challenges, including mounting pressure on macroeconomic management, emerging risks to energy security, and first-quarter growth falling short of targets, partly due to extended holiday periods. He also pointed to ongoing administrative inefficiencies, limited effectiveness in decentralisation, underdeveloped online public services, weaknesses at the commune level, and continued concerns over food safety.
Calling for a comprehensive review, the Prime Minister urged ministries, sectors, and localities to assess socio-economic performance, evaluate policy responses to global developments, and draw lessons from implementation challenges. He stressed the need to propose key solutions for sustaining high growth while ensuring macroeconomic stability, controlling inflation, and maintaining major economic balances.
Reiterating that the double-digit growth goal remains unchanged, PM Chính called for renewed efforts to strengthen traditional growth drivers, promote new engines of growth, effectively manage monetary and fiscal policies, accelerate public investment disbursement, and diversify export markets and supply chains.
The conference is expected to review key areas including the implementation of Government Resolution 01, progress in public investment allocation and disbursement, national target programmes, and the Government’s performance in March and the first quarter, while outlining priority tasks for April and the months ahead.
