Resolution 77, recently issued by the Government, stated that the global economy continues to face trade wars, geopolitical conflicts, and the risk of supply chain disruption. Domestically, agricultural production and electricity supply are at risk due to extreme weather.
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Lach Huyen Port Cluster, Hai Phong. |
New, unpredictable factors from both inside and outside are putting pressure on macroeconomic stability, inflation, and exchange rates.
However, the Government requested ministries, agencies and localities to take advantage of opportunities and remove difficulties to achieve this year's GDP growth target of 8% or more, stabilize the macro-economy and control inflation.
The Chairmen of the People's Committees of 37 provinces and cities that did not meet the GRDP growth target in the first quarter must coordinate with the Ministry of Finance to clarify the causes, propose solutions and adjust the growth scenario for the following quarters to ensure the achievement of the assigned annual target.
Ministries and sectors will develop scenarios to respond to international fluctuations, especially the US's reciprocal tax policy. The Ministry of Finance will soon propose a plan to support businesses and workers affected by the tariff policy; submit a draft on extending the value-added tax (VAT) reduction from July 1, 2025 to the end of 2026.
The State Bank will operate exchange rates flexibly, be ready to intervene when necessary, promote credit to production sectors, provide short-term loans to support businesses affected by US tariff policies; research preferential loan packages for people under 35 years old to buy houses, and long-term credit packages for infrastructure and digital technology.
To ensure stable production and boost the economy, the Government also set out a series of specific tasks for ministries and sectors. The Ministry of Industry and Trade will quickly remove obstacles to implementing the Power Plan VIII, ensuring there is no power shortage. At the same time, it will step up trade promotion, connect with new markets, soon complete new FTAs and promote bilateral negotiations with the US.
The Government requested to accelerate public investment disbursement and disburse all capital plans for 2025. The Ministry of Construction was assigned to develop a policy to stimulate domestic consumption of construction materials and propose to reduce taxes on clinker (the main ingredient of cement). The tourism industry increased promotion during the summer of 2025, coordinated the management of airfares, and stimulated domestic tourism demand.
To improve the business environment, the Government requires effective implementation of the program to cut and simplify administrative procedures for 2025-2026, especially procedures related to production, business and decentralization of administrative procedure settlement.
Source: https://baobacgiang.vn/chinh-phu-giu-nguyen-muc-tieu-tang-truong-tu-8--postid415948.bbg
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