Despite global economic uncertainty, Vietnam's economy has "gone against the tide, achieving positive results," Finance Minister Nguyen Van Thang told voters in Dien Bien province on 4/7.

He reported that second-quarter GDP growth is estimated at 6.87-6.97%, bringing the first-half growth close to the targeted 7.58%. State budget revenue reached 66.7% of the estimate, a 28.3% year-on-year increase. The economy's major balances are secured, and the revenue structure is stable.

"At this rate, the minimum growth target of 8% in the last six months of the year is feasible," he said.

Finance Minister Nguyen Van Thang at a meeting with voters in Dien Bien province on 4/7. Photo: Dien Bien Electronic Portal

Finance Minister Nguyen Van Thang at a meeting with voters in Dien Bien province on 4/7. Photo: Dien Bien Electronic Portal

This year, the government aims for over 8% GDP growth. At yesterday’s government meeting, finance officials announced the first-half GDP growth was the highest in nearly 20 years. Key localities showed strong growth.

Specifically, among the original 63 provinces and cities, Ho Chi Minh City grew by 7.82%, Hanoi by 7.63%, and 10 localities achieved double-digit growth. Among the 34 new provinces and cities, six saw double-digit growth: Quang Ngai, Hai Phong, Quang Ninh, Ninh Binh, Bac Ninh, and Phu Tho.

Reputable international organizations (such as the IMF, WB, WEF, and OECD) continue to view Vietnam’s economic prospects positively. They also recognize Vietnam's increasing importance in the regional and global economy.

Minister Thang also addressed administrative matters. Regarding office relocation, he confirmed the Ministry of Finance agrees to return the former Customs and Social Insurance offices to Dien Bien province.

However, as 10 officials still work at the Regional VII Customs Department, he requested the province provide temporary accommodations or retain part of the building. The Social Insurance office will be handed over after relocation.

Regarding the budget for administrative apparatus rearrangement under Decree 178/2024 and the two-tier local government organization, the province requested 538 billion VND for infrastructure. The Ministry of Finance has responded with detailed guidance.

Minister Thang stated that central support for provinces with budget imbalances and difficulties, like Dien Bien, is "entirely reasonable." However, requests should be carefully calculated and justified for central review. The Ministry will review and report to the government for funding allocation.

Concerning the Son La - Dien Bien expressway, the Ministry supports the PPP model for the Son La - Dien Bien section. However, the province must review the scale (ensuring 4 lanes) and collaborate with investors to resubmit a plan. The Ministry will propose government funding for the Dien Bien - Tay Trang section during 2026-2030. If ODA funds are used, disbursement should take no more than 12-15 months.

Regarding the rural electrification project, Minister Thang called it essential but noted slow disbursement due to legal hurdles. The Ministry still proposes 257 billion VND in government funding. If central budget reserves are used, the province must commit to timely disbursement to avoid cancellation.

Dien Bien province requested an additional 266 billion VND in medium-term public investment. According to the Minister, the current capital allocation is crucial for immediate disbursement after National Assembly approval. The province's additional request hasn't been granted due to the lack of matching funds.

"If truly necessary and reasonable, the Ministry will propose it to the Government immediately," the Minister said, confirming the Ministry's readiness to collaborate, guide, and allocate resources if the province provides clear, legally sound proposals with feasible implementation plans.

Phuong Dung