A new spring is also an occasion for us to look back at the past year with a complicated and rapidly evolving global situation and the emergence of new and unprecedented factors: the growing strategic rivalry between powers, the prolonged Russia-Ukraine conflict, rising inflation and monetary tightening in many countries, global growth slowdown and signs of recession in many countries and regions, risks in the financial, monetary and property markets, the severe impacts of energy and food crises, climate change, natural disasters and epidemics.

Domestically, in addition to advantages, we have had to face many unprecedented difficulties and challenges from both external and internal economic factors, especially in recent months.

In that context, under the close leadership of the Party Central Committee, particularly the regular direction of the Politburo and the Secretariat, headed by General Secretary Nguyen Phu Trong and the National Assembly’s initiative, positivity and companionship as well as the participation of the whole political system, the joint efforts, consensus and support of the people and the business community, and the support and assistance of international friends, the Government, led by Prime Minister Pham Minh Chinh, thoroughly follow the Resolution of the 13th National Party Congress, the Resolution and Conclusions of the Party Central Committee, the Politburo and the Secretariat and the NA’s Resolutions under the motto of “solidarity, discipline, proactive adaptation, safety and efficiency, recovery and development”. Accordingly, the Government has directed and administered the economy in a consistent, drastic, scientific and flexible manner to suit the practical situation and its requirements. The Government has expressed its wisdom and bravery in driving the “economic ship” to overcome rapids, winds and waves.

As a result, the country successfully and comprehensively fulfilled its goals and tasks including focusing on pandemic prevention and control while promoting socio-economic recovery and development and building an independent and self-reliant economy associated with proactive and active international integration in an extensive and effective manner.

The socio-economic situation recovered positively and achieved important and comprehensive results in many fields (with 14/15 targets achieved and exceeded): macroeconomic stability, inflation under control, the major balances of the economy have been secured; GDP growth reached about 8%, the highest in the past 10 years; CPI for the whole year increased by less than 4%; total import and export revenue of goods reached a record level of about 740 billion USD; export of agricultural products reached more than 53 billion USD; independence, sovereignty and territorial integrity have been maintained; political security, social order and safety have been ensured; business investment environments have been significantly improved; administrative reform has achieved many positive results, effectively serving the business community and the people. The work of building and perfecting institutions is increasingly valued and implemented methodically; people's living conditions have been improved day by day, and social security, education, and health care has been paid attention to. The COVID-19 epidemic continued to be well controlled, creating conditions for recovery and development; the labour market is recovering.