Late on the afternoon of November 1, Minister of Planning and Investment (MPI) Nguyen Chi Dung explained after National Assembly delegates discussed in the hall about evaluating the results of implementing the socio-economic development plan. Congress in 11, expected socio-economic development plan for 2023.
Clarifying the growth issue, Minister Nguyen Chi Dung said that the world situation is difficult, with many rapid and unpredictable developments, without precedent. The domestic economy is highly open, has limited resilience and autonomy, and is in transition, so it is subject to many external influences.
Minister of Planning and Investment Nguyen Chi Dung
“The results have not met the set plan but are still very respectable and positive, while other countries such as Thailand are forecast to grow 2,7%, Malaysia 4%, Indonesia 5%, China 5%. These numbers show that our results are also a very high effort of the entire political system."Mr. Dung said.
Regarding the socio-economic recovery and development program, the Minister of Planning and Investment acknowledged that some policies of Resolution 43 on fiscal and monetary policies support the recovery and development program. The socio-economic implementation of direct support for businesses, people and workers has promoted positive effects, contributing to high results in the first 9 months of this year.
“In addition to these supports, we have also spent more than 50% of the program's resources on socio-economic infrastructure investment. All important projects and key national strategic projects that are currently being implemented are also very active.
For these projects, we have spent 176.000 billion VND/337.000 billion VND of the entire program for infrastructure investment, in addition to supporting businesses, people, and workers.", Minister of Planning and Investment added.
However, Mr. Dung also admitted that some policies have not achieved the desired results. In particular, explaining the slow disbursement of the 2% interest rate support package, Mr. Dung said there were two reasons.
Firstly, due to the difficult economy, many businesses that are eligible to borrow do not borrow, due to orders and production situation, but some businesses that want to borrow do not qualify to borrow.
Second, due to the very careful design of the support program, including regulations on "resilient projects". This regulation makes borrowers and lenders "hesitant" in understanding what a resilient business is. Therefore, the program's expectations have not been met.
"Currently, only 873 billion VND has been disbursed, nearly 2% of the plan," Mr. Dung said and provided more information “The Government has submitted to the National Assembly for permission to continue implementing this program until the end of 2023. If it is not achieved, we will cancel the estimate.
This is an account that we have not yet issued or mobilized, so it does not affect the overspending. Instead of this 2% interest rate support policy, we will continue to apply for extension and postponement of value-added tax as well as other taxes in the near future to support businesses."
Regarding unsatisfactory labor productivity, the Minister of Planning and Investment said that the reason is that the growth model has not changed much, the economic structure is slow to shift, and the labor structure between industries and fields is slow. area; Science and technology innovation, digital transformation, and the quality of human resources have not met the requirements set forth.
"Particularly in 2023, there is also a reason that economic growth is lower than the target. Industrial production, construction and real estate are difficult. A part of the workforce moved to the service sector, mainly informal occupations with lower labor productivity. A part of the workforce moves to a new job, so it also takes time to study and retrain to adapt.", Mr. Dung explained.
Commander of the Planning and Investment sector said that the Prime Minister has assigned the Ministry of Science and Technology to develop a project to increase labor productivity based on innovative science and technology; assign the Ministry of Planning and Investment to develop a project on a national program on increasing labor productivity to make labor productivity an important driving force for rapid, sustainable growth, taking advantage of the opportunities of Fourth industrial revolution.
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