In recent times, the province's political system has been raising awareness and sense of responsibility in maintaining a healthy and effective financial sector in the spirit of proactive and flexible fiscal policy management in short-term response, complying with the principles of budget balance and financial discipline in the long term. Thereby contributing to mobilizing and effectively using the resources held in conjunction with building an independent, self-reliant economy with deep international integration.
Thanks to the economic development loan from Agribank Vinh Phuc branch, Trung Hieu Service and Trading Company Limited, Yen Lac town (Yen Lac) has invested in purchasing modern machinery systems, improving production capacity. Photo: Nguyen Luong
After 75 years of construction, development and integration, the province's economic position and potential have continuously increased, gradually affirming its position in the region and area.
To achieve that result, the province has focused on effectively implementing the Central Government's mechanisms and policies; reviewing, amending, supplementing and perfecting its own mechanisms, in accordance with the Party's guidelines and the State's policies and laws, in order to free up resources, support economic sectors to develop equally and contribute to the recovery and stability of the economy. One of these is to proactively, creatively and flexibly apply fiscal policies.
Every year, the Provincial People's Committee issues regulations on the organization and management of budget estimates in accordance with the provisions of the State Budget Law and guiding documents. Save 10% of the regular expenditure estimates at all levels of budgets to create a source for salary reform according to the National Assembly's resolution, the Government's direction and the Ministry of Finance's guidance; save more during the year according to the Government's direction to reserve resources for development investment and implementation of social security policies.
To gradually increase the rate of regulating balanced revenues for the budgets of districts and cities, the Provincial People's Council has issued Resolution No. 16 on decentralization of revenue sources and expenditure tasks between budgets at all levels, effective from January 1, 2022, including decentralization of regulation for district budgets and commune-level budgets to enjoy personal income tax, collect rice land protection fees, non-agricultural land use tax, increase the rate of regulating land use fee collection, decentralize additional expenditure tasks...
In addition, direct the State Bank of the province to coordinate with local commercial banks to proactively and flexibly operate monetary policies to promote credit growth such as reducing interest rates, promoting connections with businesses, restructuring debt, maintaining debt groups; offering many preferential credit packages suitable for each customer group, simplifying loan procedures... to facilitate people and businesses to gradually restore production and business, promoting economic growth.
Aribank Vinh Phuc branch flexibly implements many loan programs, helping people and businesses gradually restore production and business. Photo: Nguyen Luong
The highlight is the effective and authorized implementation of a series of policies to extend, exempt, and reduce taxes, fees, charges, and budget revenues... according to Resolution No. 11 of the Government on the Socio-Economic Recovery and Development Program and the implementation of Resolution No. 43 of the National Assembly on fiscal and monetary policies to support the program.
In the field of interest rate support for loans from the State budget (2%/year) for enterprises, cooperatives, and business households, the State Bank of the province has directed credit institutions in the area to focus on reviewing eligible subjects for support according to regulations. Since the beginning of the program, the province has had 52 customers, including 9 enterprises and 43 business households, receiving interest rate support worth 7.2 billion VND.
With nearly 10 years of operation in the field of construction materials production, A My Industrial Joint Stock Company (Lap Thach) has affirmed its brand and position in the domestic and international markets.
According to a representative of A My Industrial Joint Stock Company: The policies of tax exemption, extension, and reduction, etc. implemented in the province in recent times have helped businesses more easily face challenges from trade "barriers" when reaching out to the international market. To date, Amy Group branded products have been present in more than 20 countries and territories around the world, requiring high product quality such as the US, Europe, Malaysia, Korea, etc. The company's goal in 2025 is to increasingly diversify types and designs, improve product quality, and strive for a growth rate of 13% compared to 2024.
In 2025, the province strives for an economic growth rate of 10-11% compared to 2024; continues to be in the Top localities with high growth rates in the country; total state budget revenue reaches 32,100 billion VND, of which domestic revenue is 26,000 billion VND, import-export tax revenue is 6,100 billion VND...
To realize the above objectives, the province continues to proactively manage budget revenue, expand revenue base, especially new revenue sources to maintain the proportion of domestic revenue. Effectively exploit financial resources from public assets; flexibly use public investment capital; improve the efficiency of using ODA loans and foreign preferential loans.
Strengthening the budget expenditure structure, focusing on essential tasks. Directing credit to production, business and priority sectors according to the Government's policy, strictly controlling credit for potentially risky sectors to contribute to the goal of controlling inflation, supporting growth and improving credit quality.
Synchronously deploy solutions to remove difficulties for people and businesses. Promote the connection between banks and businesses, creating conditions for the economy to quickly recover and develop. From there, gradually innovate the growth model, improve the competitiveness of the economy.
Ngoc Lan
Source: https://baovinhphuc.com.vn/tin-tuc/Id/124026/Linh-hoat-chinh-sach-tai-khoa-gop-phan-xay-dung-nen-kinh-te-doc-lap-tu-chu
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