Prime Minister: Government will prevent instability and economic crisis in all scenarios and has contingency plans to respond to volatility.

Prime Minister Le Minh Hung said the government will not allow instability or an economic crisis to arise in any scenario and has contingency measures to respond to volatility. On the afternoon of April 9, the Prime Minister reported to the National Assembly on the implementation status of the economic-social development plan for the early months of 2026 and the five-year plan. The Prime Minister noted that the global and regional situation remains volatile and complex, especially policy adjustments in many countries and escalating armed conflicts. Along with rising fuel prices, the global economy is forecast to grow slowly. This year Vietnam aims for double-digit growth. The government will mobilize and use all resources effectively to achieve this goal. Specifically, the government requires a 10% increase in revenue collection, savings of over 10%, and aims to save an additional 5% of regular expenditures; obstacles to stalled projects will be removed quickly... Growth targets for each locality, group, and state-owned corporations will be assigned by the government in April. We will not allow instability or economic crisis in any scenario. The government will strengthen financial discipline, budgeting, and have contingency measures to proactively respond to fluctuations, the Prime Minister said. The Middle East conflict has a major impact on energy markets worldwide, including Vietnam, with fuel prices rising sharply. The Prime Minister said Vietnam will ensure national energy security in the short and long term, especially ensuring supply of crude oil and natural gas. He also called for energy conservation, ensuring no electricity shortages in any scenario, and improving the efficiency of the electricity system. According to the plan, the National Energy Storage Strategy and the Nuclear Energy infrastructure development project will be completed in Q3. Vietnam will establish a large-scale crude oil storage system to diversify and maintain a stable supply for at least 90 days. Currently Vietnam does not have a separate national gasoline reserve. Stockpiles are stored in the warehouses of major fuel trading enterprises under contracts, with fees paid per unit. The current stock is only about 7-10 days of consumption. Recently, the government instructed the Ministry of Industry and Trade to promptly work with foreign partners to immediately implement the construction of strategic gasoline storage in Nghi Son (Thanh Hoa). Since late February, domestic retail fuel prices have undergone 15 adjustment cycles; currently, RON 95-III is 23,540 dong per liter, diesel is 32,960. Earlier, these prices rose to nearly 34,000 and 45,000 dong per liter. Mr. Phan Van Mai, head of the Economic-Finance Committee, presented the review report at the National Assembly session on the afternoon of April 9. On developing new economic models, the Prime Minister said data exchange platforms, tokenized assets, and digital assets would be piloted from Q3, after regulators review and supplement policies and development plans. For key markets, including real estate, corporate bonds, and currency, stability is required. The Governor of the State Bank has been instructed to implement measures to stabilize deposit and lending rates. In reviewing the government report, Mr. Phan Van Mai noted that macroeconomy is broadly stable but policy space remains limited, while external risks rise. The review body recommended that the government closely monitor energy markets and tax and international trade policies to assess impacts in a timely manner and develop appropriate operating scenarios.