The directive signed by the Prime Minister clearly states that the growth target of 8% or more by 2025 is a difficult task, but we must be determined to complete it to create a position for double-digit growth in the following years.
On March 1, 2025, Prime Minister Pham Minh Chinh signed Directive No. 05/CT-TTg on key tasks and breakthrough solutions to promote economic growth and accelerate disbursement of public investment capital, ensuring the national growth target in 2025 reaches 8% or more.
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, so we only discuss doing, not retreating."
Key tasks, solutions, breakthroughs
The Directive sets out key tasks and solutions to promote economic growth and accelerate public investment disbursement. These are: Focusing on resolutely, synchronously and effectively implementing the Resolutions and Conclusions of the Central Committee, the Politburo, the National Assembly and the Government, effectively promoting the new and breakthrough mechanisms, policies and regulations that have been issued, and immediately removing and releasing 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...
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; focus on more effectively implementing tasks and solutions on managing interest rates, exchange rates, credit growth, operating the open market, interbank market, refinancing, money supply, and issuing credit notes, etc.
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 immediately develops a classification of green projects and green criteria to serve as a basis for mobilizing capital for green development.
Relevant parties 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 improve institutions, mechanisms, policies and legal regulations
Ministries, agencies and localities focus on reviewing, amending and perfecting regulations that are no longer suitable, overlapping or incomplete in the direction of resolving any problems, and proactively handling and implementing them at any level according to their authority or proposing to competent authorities to amend and perfect them; promoting decentralization and delegation of authority in conjunction 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. Every month, the parties report to the Prime Minister on bottlenecks, difficulties, obstacles and barriers for people, businesses, including foreign investors...
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 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 3,000km of expressways and over 1,000km 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 terminal, Noi Bai T2 terminal, starting construction of Lien Chieu port, completing investment procedures for Can Gio international seaport, Ho Chi Minh City...
Promoting sustainable exports
The Ministry of Industry and Trade presides over and coordinates with the Ministry of Foreign Affairs, relevant ministries and agencies to support businesses in effectively utilizing commitments in 17 signed Free Trade Agreements (FTAs); promote negotiations and advise on signing FTAs with Middle Eastern countries, Switzerland, Norway, Finland, India, Brazil, etc.; enhance exploitation of new and potential markets, including the Middle Eastern, Halal, Latin American and African markets.
Ministries, agencies and localities strengthen the management of cross-border e-commerce activities; promote the export of services, especially finance and banking, develop logistics, expand air and sea transport; enhance international integration in services and sign digital economic agreements...
The Directive requires ministries, agencies and localities, according to their assigned functions, tasks and authorities, to proactively and flexibly implement synchronous solutions for cultural development, effectively implement social security policies, and sustainably reduce poverty; protect the environment, proactively prevent and combat natural disasters, respond to climate change, resolutely implement commitments at COP26, stabilize politics, consolidate and strengthen national defense and security; do a good job of policy communication, continue to promote foreign affairs activities, and effectively and substantially integrate into the international community./.
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