Accordingly, on May 26, 2023, Prime Minister Pham Minh Chinh signed Official Dispatch No. 470/CD-TTg requesting ministries, branches and localities to continue to resolutely and effectively implement tasks and solutions to remove difficulties for production and business of people and enterprises.
Reducing lending interest rates practically and for the right subjects to solve difficulties for production and business. Illustrative photo
The telegram stated: Due to the economic downturn and difficulties in large, traditional markets such as the US, EU, Japan, South Korea, etc., consumer demand has not been restored in the short term, causing a decline or even a break in supply chains such as electronics, textiles, footwear, minerals, wooden furniture, etc. Therefore, the Prime Minister assigned the Ministry of Industry and Trade to preside over and work with the Ministry of Foreign Affairs and relevant ministries and branches to effectively implement signed Free Trade Agreements (FTAs); promote negotiations and signing of new trade agreements, commitments, and linkages, including the FTA with Israel and agreements with other partners (UAE, MERCOSUR, etc.) to diversify markets, products, and supply chains, and actively seek output markets for Vietnamese products and goods, especially those with strengths, potential, and advantages.
The Prime Minister requested the State Bank of Vietnam to continue to resolutely direct the review and direction of the commercial banking system to reduce costs, apply digital transformation, strengthen effective management, reduce administrative procedures, promote innovation... to continue to reduce lending interest rates practically and to the right subjects to solve difficulties for production and business, especially supply chain disruptions and increased production costs, contributing to a harmonious, reasonable and effective combination of cheap labor and low-cost capital, contributing to reducing costs, enhancing competitiveness for businesses, creating conditions for businesses to develop both in breadth and depth.
Along with that, continue to review the credit packages of 40,000 billion VND and 120,000 billion VND with more timely, favorable, open, flexible, feasible, and reasonable lending conditions...; at the same time, strengthen supervision and inspection to prevent policy exploitation and violations of legal regulations.
For the Ministry of Finance, the Prime Minister requested to urgently inspect, evaluate and urge the General Department of Taxation to immediately, without delay, guide the dossiers for reviewing VAT refund requests quickly, promptly and effectively for people and businesses (to be completed before May 28, 2023); effectively implement policies to extend, exempt and reduce taxes, fees, charges, and land rents that have been approved by competent authorities and continue to propose policies if there is room.
The Prime Minister requested Ministers, Heads of ministerial-level agencies, Government agencies, Chairmen of People's Committees of provinces and centrally run cities to continue to resolutely direct, review, inspect, and cut unnecessary administrative procedures that increase costs, cause inconvenience, congestion, and negativity for people and businesses, and actively deploy digital transformation applications; inspect, consider, and handle officials who are afraid of responsibility, avoid, shirk, and do not dare to perform functions and tasks under their authority, and resolve public services for people and businesses quickly, promptly, effectively, and in accordance with regulations.
Directly direct the implementation and be responsible for the results of the implementation of policies and solutions to support people and businesses that have been issued and directed by the Government and the Prime Minister; periodically, before the 25th of each month, send the Ministry of Planning and Investment the implementation results and proposals and recommendations (if any) for the Ministry of Planning and Investment to synthesize and report at the regular monthly Government meeting.
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