Customers choose to buy goods at Co.op supermarket Nguyen Dinh Chieu, Ho Chi Minh City. (Photo: My Phuong/VNA)
The Prime Minister has just signed and issued Official Dispatch No. 128/CD-TTg on a number of important tasks and solutions to promote growth, control inflation and stabilize the macro- economy , ensuring major balances of the economy.
The Prime Minister telegraphs: Ministers, Heads of ministerial-level agencies and Government agencies; Chairmen of People's Committees of provinces and centrally run cities.
The telegram stated: In the first 7 months of 2025, our country's socio-economic situation achieved many important and positive results in most areas; many important indicators and indicators on growth, production and business, enterprises, state budget revenue, investment, export, consumption, etc. continued to trend positively, each month was better than the previous month, each quarter was higher than the previous quarter, but compared to the goals and requirements, we still need to strive and make more efforts; especially the mindset must be innovative and the actions must be drastic, focused and key.
In the last months of 2025, the Government's goals, directions and management are to continue to prioritize promoting growth associated with maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy, budget deficit, and public debt within the scope permitted by the National Assembly; determined to strive for a GDP growth rate of 8.3-8.5% in 2025; an average consumer price index (CPI) growth rate of below 4.5% in 2025; and continued improvement in people's material and spiritual lives.
To achieve the above goals, there must be specific and feasible solutions to increase resources for production and business activities. The Prime Minister requested:
The State Bank of Vietnam presides over and coordinates with relevant agencies: Closely monitor developments, the world and domestic economic situation, economic growth scenarios to proactively, flexibly, promptly, effectively, in accordance with macroeconomic developments and monetary policy objectives in accordance with the main tasks and solutions in Resolution No. 154/NQ-CP dated May 31, 2025 of the Government, Resolutions of regular Government meetings and directions of the Prime Minister, closely coordinate, harmonize, rhythmically, synchronously with fiscal policy and other macroeconomic policies, contributing to promoting growth, while controlling inflation according to the set targets, stabilizing the macro economy, ensuring major balances of the economy, meeting capital needs for production and business of people and enterprises.
Urgently develop a roadmap and pilot the removal of credit growth quotas to be implemented from 2026; in which it is necessary to develop standards and criteria for credit institutions to operate effectively, healthily, have good governance and management capabilities, comply with safety ratios in banking operations and high safety credit quality indexes..., ensuring publicity and transparency;
The State Bank of Vietnam is responsible for inspection, examination, supervision and post-audit, preventing systemic risks, ensuring security and safety of the credit institution system and controlling inflation according to the set target.
Strive to achieve the highest goals, tasks and solutions set out in the Project "Restructuring the system of credit institutions associated with bad debt settlement in the period of 2021-2025" as approved by the Prime Minister in Decision No. 689/QD-TTg dated June 8, 2022, focusing on promoting bad debt settlement, implementing measures to strictly control credit in areas with potential risks, improving credit quality, minimizing new bad debts, ensuring safe and healthy credit growth along with strict control of bad debts.
Strengthen monitoring, inspection, examination and close, comprehensive supervision of the operations of credit institutions; take measures to prevent, inspect, supervise and strictly handle according to the law acts of manipulation, cross-ownership, credit granting to "backyard" enterprises, enterprises in unhealthy ecosystems, boards of directors, executive boards and related persons... not in accordance with the law, ensuring the safety of the banking system and national monetary security.
Continue to direct credit institutions to reduce costs, simplify administrative procedures, promote digital transformation... to have more room to reduce lending interest rates, support production and business of enterprises and people in the spirit of "harmonized benefits, shared risks"; direct credit capital to priority areas, traditional growth drivers of the economy (investment, export, consumption) and new growth drivers (science and technology, innovation, digital economy, green economy, circular economy...) according to the Government's policy, ensuring safe and effective credit growth expansion.
Review, develop and immediately supplement priority mechanisms and policies to more effectively and drastically implement the credit program for young people under 35 years old to buy, rent, or hire-purchase social housing, the VND500,000 billion credit program for enterprises investing in infrastructure, science, technology, innovation, digital transformation, etc.
Policy implementation must be timely and effective; no formalities, no money that cannot be disbursed.
Urgently develop a plan for monetary policy management in the last months of 2025 and 2026, and report to the Government Standing Committee before August 30, 2025.
The Ministry of Finance shall preside over and coordinate with relevant agencies to: Operate a reasonable, focused, and key expansionary fiscal policy, closely, harmoniously, and effectively coordinate with monetary policy and other macroeconomic policies.
Strengthen regular information exchange with the State Bank of Vietnam and relevant ministries and agencies in price management and inflation control, ensuring the set growth and inflation targets.
Diversify resources to support economic development; have solutions to further promote public investment disbursement; calculate and determine capital needs and implement solutions to increase mobilization and effective use of public investment capital, FDI capital, foreign loans and research the issuance of bonds, especially for key projects.
Resolutely and effectively implement solutions to develop the capital market, stock market, and corporate bond market in a sustainable, stable, safe, and healthy manner to meet the medium- and long-term capital needs of the economy, reduce dependence on bank credit; promptly deploy necessary measures to upgrade the stock market from a frontier market to an emerging market, promptly remove difficulties and obstacles to meet the upgrading criteria, and create favorable conditions for capital mobilization for the country's economic development.
Closely coordinate with relevant ministries and agencies to build and update the national database on enterprises to ensure consistency, completeness and timeliness to create conditions for credit institutions to promote digital transformation, accurately assess the business performance, improve credit risk management capacity and expand credit safely and effectively.
Continue to strengthen and improve the operational efficiency of State-owned enterprises and credit support mechanisms such as the Credit Guarantee Fund for Small and Medium Enterprises and the Small and Medium Enterprise Development Fund, ensuring that these funds operate substantially and effectively.
Coordinate with the Ministry of Science and Technology and relevant ministries and agencies to deploy solutions to promote productivity and quality factors through promoting digital transformation, application of science and technology, policies to encourage innovation, creativity, administrative reform, creating a favorable environment to unlock capital and human resources to support high and sustainable economic growth.
Resolutely implement measures to increase revenue and reduce expenditure, especially unnecessary expenditure. Urgently develop a plan to manage fiscal policies in the last months of 2025 and 2026, and report to the Government Standing Committee before August 30, 2025.
The Ministry of Agriculture and Environment shall preside over and coordinate with relevant ministries, agencies and localities to: Urgently and effectively implement solutions to boost agricultural production, especially food and foodstuffs, to ensure adequate supply to meet domestic demand, firmly ensuring national food security in all situations; at the same time, strengthen and promote the export of Vietnamese products with strengths to markets and regions in the Middle East, South America, Africa, especially within the ASEAN bloc.
Focus on directing the restructuring of the agricultural sector towards large-scale commodity production, developing green, organic, circular and sustainable agriculture.
Reviewing planning and production plans towards diversifying products and markets to proactively and flexibly adapt to fluctuations and new market demands; promoting the development of geographical indications, product brands, granting codes for growing and farming areas, building a strict system for tracing the origin of goods, avoiding trade fraud, especially for industries with high risk of evading origin; promoting research, application of science and technology, innovation, and digital transformation in the agricultural sector.
Closely monitor weather, natural disasters, storms and floods to proactively warn and provide timely response instructions, minimize damage, ensure safety of people's lives and property; support people in overcoming the consequences of natural disasters, promptly restore production and stabilize life.
Early detection, prevention and control of diseases that destroy crops and livestock. Have fundamental and effective solutions to effectively control and prevent African swine fever.
The Ministry of Industry and Trade presides over and coordinates with relevant ministries and agencies to: Further strengthen solutions for management and production regulation, stabilize supply and demand of goods, strongly promote domestic consumption, increase purchasing power, stimulate consumption and domestic tourism;
Strengthening supply-demand connection and trade promotion, proactively negotiating with countries with potential markets to continue expanding and diversifying export markets, especially major partners with FTA agreements with Vietnam, diversifying products and supply chains, and at the same time implementing connection programs, organizing agricultural weeks and Vietnamese goods fairs to exploit the potential of domestic markets and foreign markets in a practical and effective manner. Absolutely not doing it in a formal and ineffective manner.
Promote industrial restructuring towards modernization, in-depth development, promote industrial production activities, improve productivity, quality, added value and competitiveness of products of advantageous and key industries of Vietnam. Effectively exploit domestic raw materials, limit imports.
Strengthen state management, step up inspection, supervision, management, and supervision of important energy projects, power projects, and transmission lines, firmly ensure national energy security, and provide adequate supply of electricity, gasoline, essential goods, and input materials to serve production, business activities, and people's lives.
Focus on completing long-standing power projects by August 2025.
The Ministry of Construction shall preside over and coordinate with relevant agencies to urgently implement solutions to stabilize supply and demand, prices and promote consumption of domestically produced construction materials and products.
Develop a specific plan to promote the effective construction of social housing. Implement more actively and drastically railway projects connecting China-Central Asia-Europe. Effectively exploit transportation methods.
The Ministry of Culture, Sports and Tourism and localities focus on effectively implementing the 2025 Tourism Stimulus Program; developing diverse and quality tourism products, stepping up tourism promotion activities and promoting the image of the country and people of Vietnam to strongly attract international tourists to Vietnam.
The Ministry of Home Affairs shall preside over and coordinate with relevant agencies to strengthen the connection between labor supply and demand, develop a sustainable and effective labor market, meet the economy's demand for labor resources, and promote the shift in labor structure towards modernity, quality, and professionalism.
Ministries, branches and Government agencies, based on their functions, tasks and powers, should be more proactive and active in contributing to the whole country in achieving the goal of stabilizing the macro economy, controlling inflation below 4.5% and achieving growth of 8.3-8.5%.
The People's Committees of provinces and centrally run cities shall proactively and actively grasp the existing problems, difficulties and obstacles in the production and business activities of state-owned enterprises to promptly have solutions to remove them and promote production and business according to their authority and legal regulations; in cases beyond their authority, they shall promptly report to competent authorities for consideration and decision.
Urgently review and thoroughly resolve stuck and long-standing projects to mobilize and release resources for economic growth and development.
Assign Deputy Prime Minister Ho Duc Phoc to directly monitor, direct and make decisions within his authority, and report to the Prime Minister on issues beyond his authority.
The Government Office monitors and urges according to assigned functions and tasks./.
Source: https://baolangson.vn/chinh-phu-yeu-cau-thuc-day-tang-truong-kiem-soat-gia-va-on-dinh-kinh-te-vi-mo-5055355.html
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