Proposal to continue implementing the 2% interest rate support policy for businesses

Vice Chairman of the National Assembly Nguyen Duc Hai chaired the meeting on the afternoon of October 23.

Disbursed 3,679.3 billion VND to support rent

Reporting to the National Assembly, Minister Nguyen Chi Dung said that after nearly 2 years of implementation, the issuance of Resolution No. 43/2022/QH15 has shown that it is a correct and timely decision of the National Assembly in the context that the country is facing many difficulties and challenges due to the severe impact of the Covid-19 pandemic.

Pursuant to Resolution No. 43/2022/QH15, the Government has developed and issued Resolution No. 11/NQ-CP dated January 30, 2022 to implement and materialize the policies decided by the National Assembly. However, some policies have expired or have used up all their resources but need to continue to be implemented, some policies have large resources but the implementation results are still limited, the disbursement of the program's development investment capital plan is still slow, and it is possible that the set goals will not be achieved.

Minister of Planning and Investment Nguyen Chi Dung presented the report.

Minister Nguyen Chi Dung said that regarding the policy of tax, fee and charge exemption and reduction, the value added tax has been reduced by 2%. The Government will direct the Ministry of Finance to synthesize and report data on the calculation of deductible expenses when determining taxable income for corporate income tax on expenses to support and sponsor the prevention and fight against Covid-19 in the coming time.

Regarding the interest rate support policy for enterprises, cooperatives, and business households, by the end of August 2023, the interest rate support amount was equivalent to about 1.95% of the resources decided by the National Assembly, with outstanding loans reaching nearly VND 57,000 billion for more than 2,100 customers. In addition, by the end of September 2023, the Vietnam Bank for Social Policies had disbursed preferential credit of more than VND 21,000 billion to more than 366,000 customers; disbursed about VND 3,679.3 billion in rent support for 128,746 employers and 5,194,162 workers.

National Assembly deputies attend the afternoon session on October 23.

Based on the current results and difficulties, the Government submits to the National Assembly for consideration and continues to assign the Government to implement the policy of supporting 2% interest rate for enterprises, cooperatives, and business households according to Resolution No. 43/2022/QH15.

At the same time, the Government proposed to extend the implementation period and disbursement of the program's development investment capital plan until the end of 2024. The Government was assigned to review and clearly determine the amount of capital needed to extend the implementation period and disbursement of each project, on that basis, report to the National Assembly Standing Committee for consideration and decision.

Clarify responsibility for failure or delay in policy implementation

Reporting on the review of the implementation results of Resolution No. 43/2022/QH15, Chairman of the National Assembly's Economic Committee Vu Hong Thanh highly appreciated the efforts and drastic, active and timely direction of the Government, the Prime Minister, the focal role of the Ministry of Planning and Investment as well as the participation of relevant ministries, branches, central agencies, People's Committees of provinces and cities, which have fully issued 17/17 documents under their authority to specify policies as required in Resolution No. 43; organized coordination, implementation and completion of a large volume of work, basically meeting the requirements.

Chairman of the National Assembly's Economic Committee Vu Hong Thanh presented the inspection report.

In addition, in the face of some arising shortcomings, the Economic Committee requested the Government to carefully evaluate and clarify the responsibilities of organizations and individuals in not or slow implementation of policies, low and unfeasible results, and assess the impact on the results and effectiveness of the implementation of the Socio-Economic Recovery and Development Program.

Regarding the results of implementing policies in Resolution No. 43, regarding fiscal policy, Chairman of the Economic Committee Vu Hong Thanh said that the results of implementing support packages of fiscal policy have had a positive impact on people, businesses and the economy. In particular, some support policies have had high implementation results such as tax, fee and charge exemption and reduction policies reaching 94.6% of the plan; lending policies through the Social Policy Bank reached 54.55% of the maximum limit, in which the outstanding lending policy to support job creation, maintaining and expanding employment has reached 100% of the set plan.

In addition, most of the support packages under fiscal policies are disbursed slowly, in some cases very slowly, such as disbursement of the program's development investment capital plan reaching about 28.9%; loans for non-public preschool and primary education facilities reaching 10.8%; loans for development of ethnic minority and mountainous areas reaching 21.9%...

The Economic Committee recommends that the Government continue to remove difficulties and obstacles to implement the policy of supporting 2% interest rates for businesses.

Therefore, the Economic Committee recommends that the Government focus on analyzing and clarifying the subjective causes and responsibilities of all levels and sectors in the slow implementation; in addition to the causes pointed out in the report, it is necessary to evaluate the adherence to reality in forecasting, calculating demand, and supporting procedures before issuing policies...

Regarding the implementation of the 2% interest rate support policy for enterprises, cooperatives, and business households, the Economic Committee recommends that the Government continue to remove difficulties and obstacles to implement this 2% interest rate support policy. For the capital that is not fully disbursed after the end of the disbursement period of the program, submit to the National Assembly to cancel the capital estimate and plan according to the provisions of Resolution No. 43/2022/QH15 and the State Budget Law.

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