Implementing the Program of the 7th Session of the 15th National Assembly, on May 23, National Assembly deputies discussed in groups the results of the implementation of the Socio-Economic Development Plan and the State Budget for 2023 and 2024. Through the discussion, many opinions stated that in the first months of 2024, the macro economy was stable, inflation was controlled, and major balances were basically guaranteed... However, the issue that many deputies raised their opinions and expressed their concerns about is the decline in private investment and the increase in the number of enterprises withdrawing from the market, reflecting that the production and business activities of enterprises are still facing many difficulties.
Restoring confidence, promoting private investment
According to delegate Hoang Van Cuong (Hanoi City Delegation), private investment growth is low; the number of enterprises withdrawing from the market (86.4 thousand enterprises) is higher than the number of enterprises entering and re-entering the market (81.3 thousand enterprises); administrative procedure reform still has some shortcomings causing difficulties for enterprises and people... are issues that need attention at present. Therefore, the delegate recommended that specific solutions should be soon available to facilitate business activities, so that enterprises can confidently expand their business and develop production...
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| Discussion at Group 1 includes National Assembly delegates from Hanoi City Delegation |
Delegate Nguyen Nhu So (Bac Ninh delegation) said that the data on newly established and resuming businesses lower than the number of businesses withdrawing from the market is a signal that businesses are gradually running out of resistance, not enough to cope with market fluctuations... Therefore, delegate Nguyen Nhu So suggested implementing synchronous solutions to revive and nurture businesses, especially private and domestic businesses. Accordingly, the Government needs to focus on promoting administrative reform, improving the investment environment, and creating confidence for businesses. At the same time, continue to flexibly implement fiscal and monetary policies, focusing on businesses and people to provide substantial support and support for businesses. The delegate noted that in the current context, it is necessary to focus on fully exploiting the potential of fiscal policies, helping businesses access them quickly, promptly and with widespread impact.
Leveraging fiscal space to support the economy
According to statistics, in 2019, 89,200 enterprises withdrew from the market; in 2020, 101,700 enterprises; in 2021, 120,000 enterprises; in 2022, 143,000 enterprises and in 2023, 172,600 enterprises. According to delegate Tran Hoang Ngan (Ho Chi Minh City Delegation), such figures show that domestic enterprises are really facing many difficulties, under a lot of pressure and challenges both internally and externally, while this is an area with a high proportion of investment and development (accounting for 45-50% nationwide, Ho Chi Minh City alone up to 68-70%). Therefore, delegate Ngan said that there should be more supportive policies for Vietnamese enterprises, including continuing to implement flexible fiscal policies to support enterprises in stabilizing and developing production, creating investment motivation.
| According to the Report on the assessment of the results of the implementation of the socio-economic development plan and the state budget in 2023; the implementation of the socio-economic development plan and the state budget in the first months of 2024 of the Government, one of the main tasks and solutions in the coming time is to continue implementing the policy of exempting and reducing interest rates, extending, postponing, restructuring debts and exempting, reducing, extending taxes, fees, charges, land rents to remove difficulties for production and business; continue to remove difficulties, create favorable conditions for businesses and people to access credit capital. Along with that, resolutely promote the disbursement of public investment capital, use public investment to activate and lead private investment, strengthen public-private cooperation... |
Discussing the above content, delegate Tran Anh Tuan (Ho Chi Minh City Delegation) said that the fact that newly established and re-established enterprises have increased but are still lower than the number of dissolved and awaiting bankruptcy enterprises, along with the decrease in the capital established per enterprise, are issues of concern. In addition, while the private investment structure plays a decisive role in the total demand for economic growth, in the past, investment has been weak and public investment has not yet attracted and led private investment.
In order for the domestic economy to continue to grow sustainably and develop further in the coming time, delegate Tran Anh Tuan said that, in the context of fiscal policy still having room, fiscal resources and support packages through taxes and fees should be used to support the economy, stimulate production, encourage business establishment and attract social resources for investment. This delegate expressed his opinion that in the coming time, it is necessary to study to continue to simplify administrative procedures, resolve the shortcomings that make investment procedures slow, thereby promoting public investment faster and more effectively.
Sharing this view, delegate Tran Hoang Ngan said that the Government and ministries, branches and localities need to speed up the disbursement of public investment capital, especially for transport infrastructure projects and key projects. Because if the disbursement progress of projects and works meets the plan, the synchronous infrastructure system will attract investors, then public investment will also play its role well in leading, spreading and attracting private investment.
Source: https://thoibaonganhang.vn/quyet-liet-thuc-day-dau-tu-cong-vuc-day-dau-tu-tu-nhan-151976.html
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