(VOVWORLD) - Vietnam’s macroeconomy remains stable, with inflation under control, Prime Minister Pham Minh Chinh said while chairing a meeting of the Policy Advisory Council in Hanoi on Sunday.
 Prime Minister Pham Minh Chinh speaks at a meeting of the Policy Advisory Council, Hanoi, September 7, 2025. |
The meeting focused on macroeconomic stability, boosting consumption, and implementing the two-tier local government model.
The Prime Minister noted that in the first eight months, the consumer price index (CPI) rose 3.25% year-on-year; credit growth was high; and new lending interest rates continued to decline.
He added that the Government has issued a decree on gold trading management, officially abolishing the monopoly on gold bar production. The decree will take effect on October 10.
On the operation of the two-tier local government model, the Prime Minister said that building a service-oriented, people-centered administration cannot be achieved overnight but must show steady progress day by day, month by month, and year after year.
Commune-level governments, he stressed, must be proactive in policy making and implementation, and in fostering a service-oriented administration for the people.