Prime Minister Pham Minh Chinh has just signed Directive No. 05/CT-TTg dated March 1, 2025 on key tasks and solutions to promote economic growth and accelerate disbursement of public investment capital, ensuring the national growth target of 8% or more in 2025.
The Directive clearly states that the growth target of 8% or more in 2025 is a difficult and challenging task, but we must be determined to complete it to create momentum, create strength, and create a position for double-digit growth in the following years, with the spirit: "The Party has directed, the Government has agreed, the National Assembly has agreed, the People have supported, the Fatherland has expected, then we only discuss doing, not retreating.
The Government's guiding and operating viewpoint is to achieve rapid but sustainable economic growth, ensure macroeconomic stability, major economic balances, control inflation; improve people's material and spiritual lives, ensure social security, social progress and equity, and protect the environment; balance and harmonize short-term growth targets with medium- and long-term development; not sacrifice progress, social equity and the environment in exchange for pure economic growth. Economic growth must be based on science and technology, innovation and digital transformation, high-quality human resources, and increased labor productivity. The goal is to aim for sustainable, inclusive, and comprehensive growth, bringing benefits to all people.
Maximize resources, proactiveness, creativity, flexibility, innovation, breakthrough spirit, responsibility of ministries, branches and localities; take people and businesses as the center, consider the difficulties of people and businesses as our own difficulties to proactively support and accompany to remove difficulties and obstacles in the spirit of "not saying no, not saying difficult, not saying yes but not doing". Mobilize all economic sectors, all businesses and people to participate in socio-economic development.
Closely monitor and grasp the situation, do a good job of analysis and forecasting, proactively develop synchronous, comprehensive, and focused solutions to have timely, flexible, and effective policy responses, especially for newly arising, difficult, and sensitive issues.
In directing and operating, it is necessary to promote the highest spirit of self-control, self-confidence, self-reliance, self-strengthening, and national pride; make the most of all opportunities, motivations, and internal and external resources for development; be flexible, creative, dare to think, dare to do, dare to take responsibility for the common good; have high determination, great effort, and decisive action with focus and key points; clearly assign people, tasks, time, responsibilities, and results.
The Directive sets out key tasks and solutions to promote economic growth and accelerate disbursement of public investment capital.
Focus on resolutely, synchronously and effectively implementing the Resolutions and Conclusions of the Central Committee, Politburo, National Assembly and Government, effectively promoting new and breakthrough mechanisms, policies and regulations that have been issued, removing obstacles and immediately liberating the resources of the economy.
The Ministry of Finance continues to research and propose policies on tax, fee, charge and land rent exemption, reduction and extension... to support people and businesses, promote production, business, tourism and domestic consumption activities in 2025, and report to competent authorities before March 15, 2025.
Urgently research, develop and submit to competent authorities for promulgation a Resolution on mechanisms and policies for breakthrough development of the private economic sector; identify the viewpoint that the private economy must be one of the most important driving forces for growth, increased labor productivity and competitiveness of the economy.
Strengthen revenue management, especially revenue from e-commerce and catering services, and complete digitalization by the second quarter of 2025 at the latest; strive to collect the highest level of state budget in 2025 according to the Government's direction; thoroughly save regular expenditures to focus on development investment, immediately save 10% of regular expenditures to increase the 2025 budget estimate compared to the 2024 budget estimate to supplement investment for the Lao Cai - Hanoi - Hai Phong railway route.
The State Bank of Vietnam shall conduct monetary policy proactively, flexibly, promptly, effectively, closely and harmoniously in coordination with a reasonable, focused expansionary fiscal policy and other macroeconomic policies; in which, it shall focus on more effectively implementing tasks and solutions on managing interest rates, exchange rates, credit growth, operating the open market, the interbank market, refinancing, money supply, issuing treasury bills, etc.;
Regularly monitor and closely supervise the developments in interest rates of mobilization and lending of commercial banks, and implement more drastic and effective solutions within their authority to reduce the lending interest rate level, creating conditions for people and businesses to access loans at reasonable costs and low capital prices to restore and develop production and business, and promote economic growth.
Strengthen the effectiveness of inspection, examination, control and close supervision of the activities of credit institutions, especially the public announcement of mobilization interest rates, lending interest rates, and credit granting activities of credit institutions; promptly and strictly handle violations according to the provisions of law, especially credit institutions that compete unfairly on interest rates, not in accordance with regulations (both mobilization and lending interest rates); strictly prohibit commercial banks from freely increasing interest rates without direction, competing unfairly and unequally.
Research to increase the scale of the lending program for the forestry and fishery sector to about 100 trillion VND and expand the scope of the program for the agriculture, forestry and fishery sectors. Continue to research and implement preferential credit packages to promote economic growth drivers and enable young people under 35 years old to buy houses.
Ministries, agencies and localities continue to support enterprises in implementing pilot and specific mechanisms and policies, new and breakthrough regulations, and "green channel" mechanisms for investment projects in industrial parks and economic zones in the high-tech sector. The Ministry of Agriculture and Environment is assigned to immediately develop a classification of green projects and green criteria to serve as a basis for mobilizing capital for green development.
Urgently research and develop mechanisms and policies to encourage investment, expand raw material production capacity and participate in North-South high-speed railway projects, urban railways, international railways, renewable energy projects, offshore wind power, etc. and guide, support and create maximum convenience for people and businesses in implementation.
Continue to prioritize time and resources to focus on perfecting institutions, mechanisms, policies and legal regulations.
Ministries, agencies and localities should focus on reviewing, amending and perfecting regulations that are no longer suitable, overlapping or incomplete, in the direction of resolving any problems, and at whichever level, that level should proactively handle and implement them immediately according to its authority or propose to the competent authority to amend and perfect them; promote decentralization and delegation of authority, combined with strengthening inspection, supervision and improving the implementation capacity of cadres, civil servants and public employees; institutions, mechanisms and policies must aim to mobilize all economic sectors, businesses and people to participate in socio-economic development, contributing to the growth and development of the country. Monthly report to the Prime Minister on bottlenecks, difficulties, obstacles and barriers for people and businesses, including foreign investors.
Focus on reviewing and cutting down administrative procedures to reduce hassles and save costs for people and businesses; improve the investment and business environment, create all conditions for quick settlement of investment procedures, and encourage investment from all economic sectors. Strive to reduce at least 30% of administrative procedure processing time by 2025; reduce at least 30% of business costs; abolish at least 30% of unnecessary business conditions; all procedures related to businesses must be carried out online, smoothly, seamlessly and effectively, ensuring transparency and minimizing paperwork; 100% of administrative procedures are carried out regardless of administrative boundaries within the province.
The Ministry of Finance conducts a comprehensive review of business investment conditions, practice conditions, administrative procedures and compliance costs of enterprises.
Preside over and coordinate with relevant agencies to continue to vigorously implement solutions to synchronously develop the financial market and capital market, especially solutions on issuing corporate bonds safely, effectively, sustainably, publicly, transparently, effectively supporting enterprises to mobilize medium and long-term capital for production and business development. By 2025, strive to complete the goal of upgrading the stock market.
The Ministry of Finance shall preside over and the State Bank of Vietnam, according to its assigned functions and tasks, shall propose and submit to the Government in March 2025 a legal framework for managing and promoting the healthy and effective development of digital assets and digital currencies.
The Ministry of Justice effectively implemented the Project "Application of digital technology in receiving and handling feedback and recommendations on legal documents" according to Decision No. 244/QD-TTg dated February 5, 2025 of the Prime Minister; in which, focusing on building and coordinating with ministries, branches and localities to operate the "Information system for receiving and handling feedback and recommendations on legal documents" to promptly detect, research, propose amendments and improvements to policies and legal regulations, remove barriers and institutional obstacles to ensure the goal of creating and promoting development.
Promote disbursement of public investment capital, take public investment as the lead, activate and attract all social resources.
Ministries, agencies and localities promote the disbursement of public investment capital, striving for the disbursement rate of public investment capital in 2025 to reach at least 95% of the plan assigned by the Prime Minister, in the spirit of taking public investment as the leader, activating and attracting all social resources; determined to complete the goal of having at least 3,000 km of expressways and over 1,000 km of coastal roads by the end of 2025, basically completing Long Thanh International Airport, ports in Lach Huyen area, putting into operation Tan Son Nhat T3 and Noi Bai T2 terminals, starting construction of Lien Chieu port, completing investment procedures for Can Gio international seaport, Ho Chi Minh City.
Strengthen discipline and order in disbursing public investment capital; impose sanctions and strictly handle according to law organizations and individuals who intentionally cause difficulties, obstruct, and delay the progress of capital allocation, implementation, and disbursement of public investment capital; resolutely handle negative and corrupt behaviors in public investment management; promptly replace individuals who are weak in capacity, afraid of mistakes, afraid of responsibility, shirking responsibility, and evading when performing public duties.
Direct, inspect, urge the construction, and accelerate the progress of the North-South Expressway component projects in the East phase 2021-2025; important and dynamic projects such as Hanoi Ring Road 4, Ho Chi Minh City Ring Road 3, My Thuan - Can Tho, Bien Hoa - Vung Tau, Ben Luc - Long Thanh expressways, regional ports... Research and immediately build a metro or railway line from Long Thanh airport to Tan Son Nhat, an elevated railway line from Van Cao to Lang Hoa Lac.
The Ministry of Finance shall preside over and urgently complete the plan to allocate sources of increased central budget revenue in 2024, report to competent authorities in February 2025; complete the plan to issue government bonds to supplement resources for key projects in the first quarter of 2025.
Source: https://baodaknong.vn/giai-phap-trong-tam-dot-pha-thuc-day-tang-truong-dat-8-tro-len-244378.html
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