Benefit from public investment
Recalling about 5 years ago, when the transport industry was often "starved" for projects, Mr. Pham Van Khoi, Chairman and General Director of Phuong Thanh Trancosin Company, said that the current reality is completely different.
Nha Trang - Cam Lam Expressway Project is about to be put into operation.
"Perhaps never before has the transport sector received such great attention, with so many resources, capital and projects as it does now. In the context of many economic sectors facing difficulties, the Government has stimulated demand by accelerating the disbursement of public investment, especially in the field of infrastructure development investment, which is very correct and very accurate," Mr. Khoi shared. According to him, the country is developing, infrastructure investment is not synchronous and complete, allocating public resources to infrastructure not only creates a driving force to stimulate overall growth for the entire economy but also builds a synchronous infrastructure network in accordance with the motto "transport goes first, paving the way".
As a business participating in joint ventures for many large transport projects, according to Mr. Khoi, the Government has allocated large resources to invest in the North-South Expressway, the "backbone" of the road transport infrastructure, and the fishbone routes, creating a complete network of both vertical and horizontal axes of roads.
Mr. Tran Khanh Quang, General Director of Viet An Hoa Real Estate Investment Joint Stock Company
"The staff and workers in the industry are very excited, there is a lot of work to do. Not only does it create a livelihood for the transport industry, but many other industries also benefit, such as construction materials and transportation, creating jobs for tens of thousands of people," Mr. Khoi assessed, adding that in the context of other industries shrinking, this is even more meaningful.
In addition, this enterprise also proposed that the Government remove more major bottlenecks that are hindering the project's progress, such as site clearance and source of earth materials. " The Prime Minister and leaders of the Government, ministries and branches regularly conduct inspections, give very close instructions, and resolve difficulties for contractors. But the localities below must also be "hot" and determined like the Government above for the project to be successful. Contractors also hope that the Government will both remove the mechanism and resolve the inertia of some localities, only then will the project be successful. The project's progress must be on schedule and quality must be ensured to promote the effectiveness of public investment capital flows," Mr. Khoi acknowledged.
The excitement of workers and businesses in the transport sector did not come naturally. On the 4th day of the Lunar New Year, Prime Minister Pham Minh Chinh personally visited and wished a happy new year to officials, workers and residents of resettlement areas in a series of projects from North to South. Inspecting the construction and listening to the opinions of contractors and consultants, the head of the Government also directed to immediately resolve the difficulties and shortcomings of the projects.
In addition, in line with the spirit of "harmonious benefits and shared risks", the Prime Minister and Government leaders have continuously held dialogue conferences with foreign investment enterprises, or directly listened to and removed obstacles for the domestic tourism industry...
In early April, the Government issued Resolution 50, which required localities to establish a special working group headed by the Chairman of the Provincial People's Committee to remove difficulties for businesses and investment projects, quickly recover and grow the economy. The Prime Minister then signed a telegram to ministries, branches and localities to remove difficulties and obstacles within their authority regarding legality, administrative procedures, access to capital, business conditions, bank liquidity, debt and taxes, fees, charges... to support businesses.
Following that, the Government delegation led by the Prime Minister regularly went directly to key projects to urge progress, remove difficulties, and at the same time directly contact and dialogue with businesses in all fields to listen and work with businesses to find ways to overcome this difficult period.
Waiting for the policy to "absorb"
Mr. Tran Khanh Quang, General Director of Viet An Hoa Real Estate Investment Joint Stock Company, assessed that the Government and the Prime Minister have issued many resolutions and directives to remove difficulties for the economy, the real estate market, businesses and people. For example, with the new organization, the Chairman of the Provincial People's Committee as the head of the special working group will certainly "wind up" subordinate officials, remove more obstacles for businesses, and help investment projects regain their spirit. This also helps the government apparatus at all levels operate more smoothly, and is expected to remove current legal obstacles, helping the economy in general and the real estate market in particular to recover soon.
Similarly, in the context of real estate enterprises restructuring and re-structuring products towards real housing needs, Resolution 50 also clearly orients policies and incentives for social housing. At the same time, the preferential loan package of 120,000 billion VND to support investors and buyers of social housing and workers' housing has helped enterprises feel more confident in implementing projects.
"Of course, in the current economic context, changing the economic situation requires more time, waiting for policies to "absorb", but first of all, the enthusiasm of the head of the Government, the determination of leaders at all levels from the central to local levels have created a great source of encouragement and energy for businesses after a period of difficulty", said Mr. Tran Khanh Quang.
Dr. Vo Tri Thanh (Director of the Institute for Brand Development and Competitiveness Research) assessed that this year is an extremely difficult year, but the Vietnamese economy is starting to show hope. First of all, from the international market. Although uncertainty is still high, Mr. Thanh said that the pressure on interest rates and exchange rates has eased. The US Federal Reserve (FED) has reduced interest rates and may continue to stop increasing in the coming period. Meanwhile, although inflation is still persistent, it has passed its "peak". Some countries have recorded good recovery rates. There are many factors to expect that global growth will decline but will not fall into recession, or if it does, it will only be very mild.
Domestically, since the end of last year, the Government and the Prime Minister have closely followed the situation, listened to many parties from businesses to experts, from the domestic to the world context to have a firm grasp of the challenges that the economy will face in 2023. The Government has issued a new resolution, along with directives to remove difficulties for businesses. The Government has urgently addressed many issues such as removing monetary policy, providing legal support, restructuring the real estate market; removing obstacles for the corporate bond market; implementing and realizing written instructions urging the acceleration of public investment in key infrastructure projects... Anything that is not within its authority is transferred to the National Assembly for quick approval, such as granting special mechanisms to some localities, especially Ho Chi Minh City; reducing value-added tax for most business sectors, removing visas for tourism and aviation...
"The Government's efforts have been seen, the policies are in place and some positive signs have been recorded such as improved bank liquidity. The State Bank and commercial banks have begun to reduce interest rates, although not much yet, but they will certainly continue. Along with the orientation of continuing to accelerate public investment, diversifying markets, reducing difficulties for the export industry, converting support packages..., the policies will gradually permeate. Hopefully, in the next half year, there will be some rays of light, and Vietnam's economy will be less difficult."
Dr. Vo Tri Thanh , Director of the Institute for Brand Development and Competitiveness Research
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