Focus on 3 growth drivers: export, investment and consumption

On the morning of June 3, concluding the regular Government meeting in May 2023, Prime Minister Pham Minh Chinh assessed that in the coming time, there will continue to be more difficulties and challenges than opportunities and advantages.

The Prime Minister stated that the goal is to continue to stabilize the macro economy, control inflation, promote growth, ensure major balances, maintain national security, independence, sovereignty, territorial integrity, prevent and combat corruption and negativity, strengthen foreign affairs and international integration.

Prime Minister Pham Minh Chinh. (Photo: VGP/Nhat Bac)

Regarding the key tasks, the Prime Minister said that it is necessary to continue to prioritize growth in the context of inflation being controlled and gradually decreasing, we have room for public debt, government debt, and budget deficit. Operate monetary policy in a certain, proactive, timely, flexible, effective direction, synchronously and effectively coordinated with a reasonable, focused, and targeted expansionary fiscal policy. Focus on removing difficulties, promoting production and business, especially agriculture, services, and expanding the market for industrial production.

In particular, the head of the Government requested Ministers and Chairmen of People's Committees of provinces and centrally-run cities to focus on promoting three growth drivers, including investment, consumption and export.

Analyzing further, the Prime Minister clearly stated the implementation of solutions to stimulate consumption, increase domestic aggregate demand, support workers, strongly develop the domestic market by continuing to exempt and reduce taxes, fees, land rents, extend debt, freeze debt, reduce interest rates, promote, reduce prices, encourage priority use of Vietnamese goods...

Regarding investment, promote faster and more effective disbursement of public investment and promote private investment and FDI investment by measures to improve the business environment, promote digital transformation, and minimize administrative procedures.

Regarding exports, strengthen trade promotion, maintain and consolidate existing markets with 15 signed Free Trade Agreements (FTAs), expand new markets such as the Middle East, India, South America... complete the signing of FTA with Israel and negotiate other FTAs, reduce costs, improve the competitiveness of goods...

Prime Minister Pham Minh Chinh assigned the People's Committees of provinces and cities to accelerate the disbursement of public investment capital, implement the recovery program, three national target programs; focus on site clearance, prepare materials for key projects and works; and promote administrative procedure reform at all levels of government.

Along with that, it is necessary to establish working groups, step up the removal of difficulties for production and business; proactively and actively review and have appropriate mechanisms for real estate, construction, industrial and commercial projects in the area, pay attention to social security policies for workers; strengthen discipline and order; handle stagnation phenomena with personnel measures.

Regarding ministries and branches, the Prime Minister assigned the State Bank to continue monitoring the implementation of Circulars 02 and 03, and make timely adjustments if problems arise; continue to implement solutions to reduce costs and lending interest rates (both old and new loans); increase access to capital, ensure reasonable credit growth, focus on growth drivers and priority areas; focus on handling weak banks, ensuring liquidity, system safety, and handling bad debts; promote credit packages such as the VND 120,000 billion credit package for social housing development.

The Ministry of Finance shall strengthen the management of budget expenditures, ensure correct, sufficient and timely collection, thoroughly save expenditures, cut down on regular expenditures, especially saving electricity in offices; accelerate VAT refunds and effectively implement the policy of reducing VAT by 2% if approved by the National Assembly; prepare additional policies on tax exemption and reduction, and promote the development of the corporate bond market.

Overview of the meeting. (Photo: VGP/Nhat Bac).

The Prime Minister continued to request the Ministry of Construction and other ministries and branches to remove regulations on fire prevention and fighting. At the same time, focus on urging the implementation of Resolution 33 of the Government, remove difficulties for the real estate market, report monthly; effectively implement the project of 1 million social housing apartments.

The Ministry of Transport focuses on implementing key transport projects, and together with the Ministry of Planning and Investment, promotes and quickly starts public-private partnership projects. The Prime Minister especially noted the promotion of the Long Thanh airport project. If the work is not completed, the responsible person will be replaced. Deputy Prime Minister Tran Hong Ha will directly direct this issue.

The Prime Minister reminded the Ministry of Industry and Trade of the task of implementing the VIII Power Plan and thoroughly handling issues related to projects related to the VII Power Plan in the spirit of harmonizing benefits, sharing risks, classifying, and publicly announcing which projects are qualified or not qualified, and which are not in accordance with regulations.

English

Useful
Emotion
Creative
Unique

Source: https://vtc.vn/thu-tuong-tap-trung-3-dong-luc-tang-truong-la-xuat-khau-dau-tu-va-tieu-dung-ar797213.html