Prime Minister: Respond proactively, promptly, and flexibly in all situations, urgently support businesses and people

Prime Minister Pham Minh Chinh chaired the 4th meeting of the Government Standing Committee to implement the conclusions of the Politburo, the directions of key leaders and General Secretary To Lam on proactive, timely, appropriate, flexible and effective responses to the new US tariff policy and solutions to stabilize the macro economy, promote growth and control inflation - Photo: VGP/Nhat Bac

Reports and opinions at the meeting assessed that, up to this point, Vietnam's situational awareness, policy response, and policy implementation have been timely, appropriate, flexible, and effective, with a calm, clear-headed, courageous spirit, without perfectionism or haste, valuing intelligence, time, and timely decisiveness. Reality shows that this work has been initially effective when, following Japan and South Korea, the United States agreed and announced negotiations on a reciprocal trade agreement with Vietnam with the goal of reducing the trade deficit between the two countries, ensuring a sustainable and long-term balance.

After listening to reports, opinions and conclusions of the meeting, Prime Minister Pham Minh Chinh stated that, regarding upcoming work, it is necessary to continue to grasp the current complicated situation and promptly propose and implement policies.

Regarding the goal, we must continue to stabilize the domestic situation, stabilize the people's hearts, stabilize investors, stabilize politics, ensure social order and safety, contribute to the goal of peace, stability, cooperation and development in the region and the world; continue to develop the country; improve the material and spiritual life of the people.

The specific goals are to stabilize the macro economy, promote growth, control inflation, ensure major balances, control public debt, government debt, foreign debt, and budget expenditure; stabilize investor sentiment, help businesses and people adapt flexibly to the new situation, reduce dependence on one market, promote foreign investment, and attract better and higher quality FDI.

The Prime Minister stated that in the upcoming work, it is necessary to continue to grasp the current complicated situation and promptly propose and implement policies; respond proactively, promptly and flexibly in all situations, and urgently support businesses and people - Photo: VGP/Nhat Bac

In terms of perspective, this work must be placed in the overall development of the country and Vietnam's international relations, not to affect the overall 17 FTAs ​​signed with over 60 markets in the world; handling this issue must not affect other issues, and dealing with this partner must not affect other partners.

At the same time, consider this an opportunity to restructure the economy towards greening, digitalization, circulation, rapid but sustainable, inclusive and comprehensive development; restructure enterprises, promote science and technology, innovation, high-quality investment, diversify markets, products, supply chains, promote businesses to grow, and participate more deeply in global supply chains.

The Prime Minister further noted the requirement to prevent unemployment; review affected subjects, especially in the textile, footwear, wood products, and seafood industries; inherit previous policies to design appropriate support policies, ensuring accurate, focused, and key support subjects; clearly defining the scope, subjects, duration, level, and resources of support. On that basis, the Deputy Prime Ministers and Ministers, based on their assigned functions, tasks, and powers, will direct quick, timely, and consistent solutions, ensuring flexibility, appropriateness, and effectiveness; what is immediate must be done immediately, what is long-term must be done step by step.

Permanent Deputy Prime Minister Nguyen Hoa Binh speaks at the meeting - Photo: VGP/Nhat Bac

Deputy Prime Minister Tran Hong Ha speaks at the meeting - Photo: VGP/Nhat Bac

Deputy Prime Minister Le Thanh Long speaks at the meeting - Photo: VGP/Nhat Bac

Deputy Prime Minister Bui Thanh Son speaks at the meeting - Photo: VGP/Nhat Bac

Deputy Prime Minister Nguyen Chi Dung speaks at the meeting - Photo: VGP/Nhat Bac

Regarding specific groups of tasks, the Prime Minister requested continued synchronous, harmonious, reasonable and effective coordination between monetary policy and fiscal policy.

Regarding fiscal policy, tax deferral and postponement solutions under the authority of the Government, ministries and branches must be implemented immediately; tax exemption and reduction policies must continue to be studied and proposed to the National Assembly for immediate issuance of a resolution. This must be done quickly in the overall foreign economic relations and integration; VTA tax refunds must be quick and timely, cutting down on administrative procedures; expanding the scope of subjects and extending the time for policies related to fees, charges, land rents, etc., including land rents for tea farmers. Reviewing import and export items to reduce taxes, ensuring suitable and balanced premises. The Ministry of Construction urgently submits tax policies for cement clinker products.

Promote public investment disbursement, free up resources for the economy, create jobs, and promote growth. The Ministry of Finance reviews public investment in recent years, assesses responsibilities, and sanctions must be imposed on those who fail to complete their public investment disbursement tasks, causing waste, and promptly report to competent authorities.

Regarding monetary policy, continue to stabilize exchange rates, strive to reduce interest rates through cost reduction, application of science and technology, digital transformation; implement debt rescheduling, extension, and deferment; propose and implement solutions, such as preferential credit packages for a number of fields and items such as the VND500,000 billion credit package for infrastructure, science and technology, stimulating domestic consumption, expanding credit packages that are being effectively implemented. Proactively ensure foreign currency for import and export, ensure foreign exchange reserves.

Resolutely cut down on administrative procedures, decentralize and delegate power in accordance with the direction of General Secretary To Lam and the Resolution of the Government, striving to reduce at least 30% of administrative procedure processing time by 2025; reduce at least 30% of business costs; and abolish at least 30% of business conditions.

State Bank Governor Nguyen Thi Hong speaks at the meeting - Photo: VGP/Nhat Bac

Minister of Agriculture and Environment Do Duc Duy speaks at the meeting - Photo: VGP/Nhat Bac

The Prime Minister requested that tomorrow (April 11), a negotiation delegation be established with the US side, led by the Minister of Industry and Trade, to develop appropriate scenarios and plans, with the spirit of ensuring maximum national and ethnic interests and harmonious interests, and sharing risks - Photo: VGP/Nhat Bac

Regarding the group of trade policy solutions, stating that we still have many traditional and potential markets that need to be exploited, the Prime Minister directed to exploit more effectively the 17 signed FTAs, continue to open new markets, such as the Middle East, Eastern Europe, South Asia, Egypt, South America, etc.; maximally and satisfactorily resolve trade issues that the United States is interested in, especially origin of goods, non-tariff barriers, intellectual property; continue to open markets with other partners and regions; actively exchange goods with countries, including the United States, especially aircraft, LNG, defense and security trade; stimulate domestic consumption.

The Prime Minister also emphasized solutions to promote production and business, support enterprises to transform and adapt to the new situation both in the long term and to solve immediate difficulties; promote all three sectors of industry, agriculture and services; promote start-ups, improve the investment and business environment, urgently deploy the Investment Support Fund, and the National Single Window.

Review and promptly amend regulations in legal documents that hinder production and business, urgently propose to the National Assembly to amend one law to amend many laws; at the same time review laws related to foreign economic affairs, propose policies to competent authorities.

The Prime Minister directed to review and propose support for affected workers; continue social security policies, support for meritorious people, the poor, social insurance, and resolve unemployment policies; this needs to be done soon, and reported to the Government before April 20 - Photo: VGP/Nhat Bac

Regarding social security policies and support for workers, the Prime Minister directed to review and propose support for affected workers; continue social security policies, support for meritorious people, the poor, social insurance, and resolve unemployment policies; this should be done soon, and reported to the Government before April 20; support employers, connect labor supply and demand, and support job creation; research and supplement policies to support minimum living expenses for workers; promote social housing programs, eliminate temporary and leaky houses, etc.

The Prime Minister requested the Vietnam General Confederation of Labor to support union members in industries that have been severely affected. At the same time, businesses should be proactive, proactive, and adapt to the new situation, apply science and technology, and ministries, agencies, and organizations should actively support businesses in terms of market, capital, management, design, packaging, intellectual property rights, etc.

The Prime Minister requested that tomorrow, a negotiating delegation be established with the US side, led by the Minister of Industry and Trade, to develop appropriate scenarios and plans, with the spirit of ensuring maximum national and ethnic interests, harmonious interests, and shared risks. The Ministries of Industry and Trade, Finance, and Foreign Affairs continue to consult with international friends; at the same time, ensure the implementation of Vietnam's commitments to other countries and prevent trade fraud.

Ha Van

Source: https://baochinhphu.vn/thu-tuong-ung-pho-chu-dong-kip-thoi-linh-hoat-trong-moi-tinh-huong-khan-truong-ho-tro-doanh-nghiep-nguoi-dan-102250410164240448.htm