Unlocking resources to ensure economic growth

Seize the opportunities

The Prime Minister has just issued Official Dispatch No. 47/CD-TTg dated April 22, 2025 to ministries, central branches, and localities on a number of key tasks and solutions to promote economic growth in 2025. The dispatch clearly stated that since the beginning of 2025, the world situation has seen many new, complicated, and unpredictable developments, with more intense strategic competition among major countries, widespread trade wars, and declining world economic prospects, posing many difficulties and challenges. The Prime Minister requested central ministries, branches, and localities to continue to resolutely and effectively implement the Central's conclusions on policies, tasks, and solutions to achieve economic growth of 8% in 2025. At the same time, priority should be given to promoting economic growth associated with macroeconomic stability, controlling inflation, and ensuring major balances of the economy.

Credit institutions ensure the supply of capital for production and business loans.

At the same time, continue to innovate and promote traditional growth drivers; effectively exploit new growth drivers, breakthroughs in science and technology development, innovation, and digital transformation. Maximize social resources for development investment; promote the efficiency of production and business activities of state-owned enterprises; create momentum for the private sector, promote socio-economic development...

In the groups of solutions, the Prime Minister requested ministries, agencies and localities to more drastically and strongly implement the work of disbursing public investment capital. The goal is to strive to disburse investment capital in 2025 to reach 100% of the plan assigned by the Prime Minister; to use public investment to lead private investment, and to strengthen public-private cooperation. Ministers, heads of central agencies and chairmen of provincial and municipal People's Committees must clearly identify difficulties and causes of slow disbursement of each specific project to directly direct and promptly resolve them. If beyond their authority, they must report to competent authorities for resolution; speeding up capital disbursement must be associated with ensuring the quality of works, preventing negativity, corruption and waste; handling officials who are weak in capacity, afraid of responsibility, shirking responsibility, avoiding, and failing to complete disbursement tasks...

In 2025, the total public investment capital is VND 888,087.9 billion. According to the Ministry of Finance, it is estimated that by March 31, 2025, the whole country will have disbursed VND 78,712 billion, reaching 8.98% of the plan and 9.53% of the plan assigned by the Prime Minister (the same period reached 12.27%). The reason for the lower achievement compared to the same period according to the Ministry of Finance is that in the first 3 months of the year, many ministries, central and local agencies have not disbursed, or disbursed very little. The Prime Minister has signed a decision to establish 7 working groups to inspect, urge, remove difficulties and obstacles, and promote the disbursement of public investment capital. According to the reports of the working groups, so far, the disbursement of public investment capital has had positive changes, and it is expected that public investment will continue to be the driving force for growth.

In addition to promoting public investment disbursement, the Prime Minister also requested ministries, sectors and localities to strengthen the connection between supply and demand, linking production with distribution and consumption to boost domestic consumption. At the same time, promote trade promotion, effectively exploit 17 signed FTAs ​​to exploit markets to the fullest and actively seek new markets. Promote the development of digital economy, green economy, promote innovation and transfer of science and technology... to make the most of all opportunities for economic growth.

Ensuring capital supply for the economy

The Prime Minister's dispatch also requested the State Bank of Vietnam (SBV) to preside over and coordinate with agencies and localities to closely monitor the international situation and policy adjustments of major economies; effectively use monetary policy management tools to regulate exchange rates and interest rates appropriately, meet capital needs for the economy and ensure the safety of the credit institution system. At the same time, the SBV continues to direct credit institutions to direct credit to production and business sectors, priority sectors and growth drivers; promote short-term lending to support businesses affected by the US tariff policy. Expand the scope and subjects participating in the preferential credit package for the forestry, fishery and wooden furniture sectors affected by the US reciprocal tariff policy...

According to the State Bank of Vietnam, as of March 31, 2025, the credit scale of the economy reached over VND 16.23 million billion, an increase of 3.93% compared to the end of 2024 (the same period in 2024 increased by only 1.34%); this is a great effort of credit institutions in the context of many fluctuations in world monetary policies. With the target of economic growth reaching 8% in 2025, the State Bank of Vietnam set a credit growth target of 16% in 2025. From the beginning of the year, the State Bank of Vietnam has deployed specific targets to credit institutions and requested credit institutions to increase capital to the market, focusing capital on production and business, capital for priority credit packages under the direction of the Prime Minister. According to experts, the health of enterprises has improved in 2024 and this is a momentum to help enterprises overcome ongoing difficulties and challenges.

Currently, the interest rate level has decreased slightly compared to 2024 and credit institutions are actively injecting capital into the economy, supporting growth. Mr. Tran Quoc Ha, Acting Director of the State Bank of Vietnam, Region 14 Branch (Can Tho City, Hau Giang, Bac Lieu, Soc Trang, Vinh Long) said: Currently, outstanding credit in Region 14 has increased quite well compared to previous years. It is estimated that by the end of April 2025, the total outstanding loans will reach about VND 400,712 billion, an increase of 3.88% compared to the end of 2024. SBV Branch Region 14 has directed credit institutions to actively implement credit programs under the direction of the Prime Minister, the Government, and the SBV. Most outstanding loans for priority sectors have increased compared to the end of 2024. Specifically, it is estimated that by the end of April 2025, outstanding loans for agricultural and rural development will reach VND 173,925 billion, accounting for 43.4% of the total outstanding loans in the region and an increase of 10.73% compared to the end of 2024; outstanding loans for exports will increase by 12.44% (estimated at VND 31,461 billion); loans to support small and medium enterprises of VND 72,863 billion, up 5.75%... Credit institutions also actively participated in the Bank - Enterprise Connection Program. Regional Branch 14 directed credit institutions to reduce costs, increase digital transformation to reduce lending interest rates, support businesses, and promote local economic growth.

Article and photos: GIA BAO

Source: https://baocantho.com.vn/khoi-thong-cac-nguon-luc-de-dam-bao-tang-truong-kinh-te-a185842.html