The Prime Minister directed key tasks and solutions to promote growth, control inflation, and stabilize the macro-economy in July and the third quarter of 2024.

Prime Minister Pham Minh Chinh has just signed and issued Official Dispatch No. 71/CD-TTg on key tasks and solutions to promote growth, control inflation, and stabilize the macro-economy in July and the third quarter of 2024.

Under the leadership of the Party, directly and regularly led by the Politburo and the Secretariat, the accompaniment of the National Assembly, the drastic, close and timely direction and management of the Government and the Prime Minister, the efforts of ministries, branches and localities, the support of businesses and people, and the help of international friends, the socio-economic situation of our country in the first 6 months of 2024 clearly showed a positive recovery, with each month being better than the previous month, each quarter being higher than the previous quarter; achieving many important results, better than the same period in 2023 in most areas.

Macroeconomic stability continues, inflation is under control, Major balances of the economy and social security are ensured, salary increases are implemented according to the roadmap. GDP growth has recovered strongly, with the first 6 months being much higher than the same period in 2023. The monetary market and exchange rates are basically stable; state budget revenue reaches 60% of the estimate; public debt, government debt, foreign debt of the country, and state budget deficit are within the allowable limit. The main sectors and fields of the economy have grown well. People's lives continue to improve. National defense and security are maintained; social order and safety are ensured. Foreign affairs and international integration are proactively and effectively implemented; Vietnam's prestige and position in the international arena continue to be enhanced.

The socio-economic situation of our country in the first 6 months of 2024 clearly shows a positive recovery, with each month being better than the previous month, each quarter being higher than the previous quarter; achieving many important results, better than the same period in 2023 in most areas.

However, our country's socio-economic situation still faces many difficulties and challenges. The world and regional situation continues to evolve rapidly, complicatedly and unpredictably; geopolitical tensions and competition with major powers are increasing; the recovery of major trade partners is still slow; world USD interest rates are anchored at high levels; there are risks of disruption to global supply chains and production chains... In the country, the economy has opportunities, advantages and difficulties; challenges are intertwined with more difficulties and challenges; inflationary pressure and exchange rates tend to increase; the financial and monetary markets still have potential risks; production and business activities in some areas are still difficult; natural disasters, droughts, landslides, and climate change are complicated...

In that situation, to successfully implement the goals and targets of the Plan socio-economic development 2024, and at the same time turning grief into action before the passing of General Secretary Nguyen Phu Trong, the Prime Minister requests Ministers, Heads of ministerial-level agencies, Government agencies, Chairmen of People's Committees of provinces and centrally run cities (hereinafter referred to as Ministries, agencies, and localities) based on their assigned functions, tasks, and powers to resolutely and effectively implement the Resolutions and Conclusions of the Central Committee, the Politburo, the National Assembly, the Government, and the Prime Minister, especially the tasks and solutions stated in Resolutions No. 93/NQ-CP dated June 18, 2024, No. 108/NQ-CP dated July 10, 2024, focusing on a number of key tasks and solutions in July and the third quarter of 2024 as follows:

1. Continue to focus on promptly removing difficulties for people and businesses

a) Ministry of Finance

- Effectively implement policies to extend tax payment deadlines, land use fees, reduce value-added tax rates, and reduce fees and charges that have been issued.

- Urgently study the impact, complete and propose to the Government a Decree on registration fee collection for domestically manufactured and assembled cars in July 2024.

b) State Bank of Vietnam

- Effectively use management tools to regulate exchange rates and interest rates, in line with the developments of the macro-economic situation and set goals, meeting capital needs for the economy; strengthen inspection, examination, and control of bad debt risks, effectively implement measures to handle bad debt, and improve credit quality.

- Continue to direct commercial banks to reduce operating costs, increase the application of information technology, digital transformation to reduce lending interest rates for priority sectors; promote credit growth, focusing on production and business sectors, priority sectors, economic growth drivers, prioritize credit limits for credit institutions operating effectively, especially for social housing, green growth, digital transformation, circular economy, etc.

- Coordinate with relevant agencies to promote the social housing credit package of 120 trillion VND, the credit package to support agriculture, forestry and fishery of 30 trillion VND...

2. Promote disbursement of public investment capital, use public investment to stimulate private investment, and promote public-private partnership.

a) Government members proactively develop work plans to continue promoting the effectiveness of the Prime Minister's Working Groups under Decision No. 235/QD-TTg dated March 14, 2023 and 26 Working Groups under Decision No. 435/QD-TTg dated April 24, 2023.

b) Ministries, agencies and localities must thoroughly grasp and consider public investment disbursement as a key political task; closely follow the detailed disbursement plan and targets for each project to focus on direction; be more proactive and drastic in implementing national target programs in the locality; promptly transfer capital from tasks and projects that are not eligible for disbursement or disbursement is slow to supplement tasks and projects that are capable of disbursement quickly and need additional capital according to regulations; urgently complete investment preparation work for projects expected to start construction at the end of 2024; overcome shortcomings to disburse faster and use ODA capital more effectively; resolutely handle cases of intentional delay in progress of capital assignment, implementation, disbursement, negativity, corruption, loss and waste.

c) The Ministry of Planning and Investment shall promptly collect opinions from Government members to submit to competent authorities in July 2024 to adjust the central budget investment plan for 2024 among ministries, agencies and localities according to the direction in Resolutions No. 65/NQ-CP dated May 7, 2024, No. 82/NQ-CP dated June 5, 2024 and No. 108/NQ-CP dated July 10, 2024.

d) Ministries and agencies: Agriculture and Rural Development, Labor, War Invalids and Social Affairs, Ethnic Committee shall preside over and coordinate with the Ministry of Finance and ministries and agencies assigned to be Project Owners to urgently review all difficulties in disbursing public capital to implement National Target Programs, clearly define the responsibilities of agencies to propose specific solutions to speed up disbursement progress according to the assigned plan, and report to the Central Steering Committee at the 6th Session in August 2024.

3. Strengthening discipline and order in state budget finance. The Ministry of Finance resolutely implements digital transformation, regulations on electronic invoices, especially promoting the application of digital transformation in budget revenue and expenditure, improving the effectiveness and efficiency of state budget revenue and expenditure management; ensuring correct, full and timely collection, expanding the collection base and preventing tax losses, especially from e-commerce to compensate for the reduction in revenue due to the implementation of support policies, completing the assigned revenue estimate at the highest level.

4. Continue to thoroughly save and cut regular spending to save for development investment and social security.

a) Ministries, agencies and localities must strictly implement the requirement to save 5% of regular expenditure in 2024; resolutely cut regular expenditure estimates that have been assigned but have not been allocated by June 30, 2024 in accordance with Resolution No. 82/NQ-CP dated June 5, 2024.

b) The Ministry of Finance shall preside over and synthesize data on regular expenditure savings of the central and local budgets in 2024. Assign Deputy Prime Minister Le Minh Khai to chair a meeting with the Ministry of Finance, the Ministry of Planning and Investment, the Government Office and relevant agencies before July 27, 2024 to agree on a plan to use the expenditure savings according to the principle of allocating them to a small number of tasks and projects that are practical, effective, focused, and key, not scattered or fragmented.

5. Boost production, export, develop domestic market, ensure energy security, food security

a) Ministries, agencies and localities according to assigned functions and tasks:

- Direct strict implementation of regulations on price declaration, price posting, and price information disclosure. Promote production, ensure adequate supply of demand, avoid shortages or disruptions in supply, especially for essential goods such as food, foodstuffs, electricity, gasoline, etc.

- Continue to diversify export markets, products, and supply chains; prioritize exploitation and make the most of opportunities from key and strategic export markets and signed Free Trade Agreements (FTAs); promote negotiations and signing of new FTAs.

b) The Ministry of Industry and Trade presides over and coordinates with agencies and localities to:

- Timely solutions to manage and regulate production, stabilize supply and demand of goods, especially food, foodstuffs, energy and other essential goods, firmly ensure national energy security, and provide adequate electricity and gasoline in all situations.

- Effectively implement policies to promote domestic consumption, promote the distribution of goods through digital platforms and e-commerce. Timely implement trade defense measures to protect the legitimate interests of domestic manufacturing industries.

- Regularly update information on market situations, regulations, standards, and conditions of foreign markets, make recommendations to localities, associations, and businesses to promptly adjust production and business plans appropriately, and orientate the search for orders from suitable markets.

c) The Ministry of Agriculture and Rural Development shall preside over and coordinate with agencies and localities to implement solutions to promote the production and business of food and foodstuffs, ensuring abundant and adequate supply, boosting agricultural exports; strengthen inspection, supervision, and guidance on the prevention and control of plant and animal diseases, especially African swine fever, to minimize negative impacts on production and people's lives; and be determined to remove the "yellow card" as soon as possible.

d) The Ministry of Finance shall preside over and coordinate with ministries, agencies and localities to closely monitor the situation, proactively forecast, calculate and update inflation scenarios to develop a comprehensive price management scenario. Ministries, agencies and localities shall proactively assess the impact on inflation, calculate and prepare plans and roadmaps for adjusting prices of goods and services managed by the State when there is room and conditions permitting, at appropriate levels and times, avoiding concentrating at the same time.

d) The State Capital Management Committee at Enterprises directs State-owned Corporations and Groups to:

- Resolutely and effectively implement the development strategy and production and business plan that have been set out, more clearly demonstrating the leading role, creating motivation, paving the way, promoting the development of other economic sectors, contributing more positively to ensuring major balances in electricity, petroleum, gas in particular and to socio-economic development in 2024 in general.

- Further strengthen coordination and mutual support in production and business, especially promoting circular economy, where the output of one enterprise can be the input of another.

6. Strengthen measures to prevent and combat climate change and natural disasters, avoid being surprised by passiveness; continue to promote the development of green and clean energy, and soon complete the Project on developing a carbon market in Vietnam.

a) The Ministry of Agriculture and Rural Development shall preside over and coordinate with agencies and localities to closely monitor weather developments, natural disasters, storms and floods; advise and direct timely and effective response, minimizing damage caused by natural disasters, ensuring safety and lives of people, safety of dikes and dams during the rainy and stormy season; support people in overcoming the consequences of natural disasters, promptly restoring production and stabilizing life.

b) The Ministry of Finance shall preside over and coordinate with the Ministry of Natural Resources and Environment, relevant ministries and agencies to urgently complete the Project on developing the carbon market in Vietnam in accordance with the direction in Notice No. 328/TB-VPCP dated July 16, 2024, and report to the Prime Minister for consideration and decision.

c) The Ministry of Natural Resources and Environment shall urgently review and complete the draft Decree amending and supplementing a number of articles of Decree No. 06/2022/ND-CP regulating the reduction of greenhouse gas emissions and ozone layer protection to create a complete and favorable legal environment for the formation and development of the carbon market in Vietnam, and submit it to the Government in July 2024.

7. Pay more attention to cultural and social fields. Pay attention to timely and fully implementing social security policies, supporting policy beneficiaries and people in difficult circumstances. Organize meaningful and practical activities to show gratitude and repay kindness on the occasion of the 77th anniversary of War Invalids and Martyrs Day, July 27. The Ministry of Labor, War Invalids and Social Affairs shall preside over and coordinate with the Ministry of Finance, the Vietnam Fatherland Front, Vietnam Television and relevant agencies to urgently develop and submit to the Prime Minister for consideration and decision in July 2024 on the announcement of the establishment and mobilization and support of the National Fund to join hands to eliminate temporary and dilapidated houses for poor and near-poor households.

8. Focus on perfecting institutions, laws, mechanisms and policies to immediately remove difficulties and obstacles, and free up resources to promote socio-economic development.

a) Ministries, agencies and localities:

- Complete and submit to the Government for promulgation of detailed Decrees and promulgate under its authority Circulars and guiding documents, ensuring their simultaneous effectiveness with the Land Law, Housing Law, Real Estate Business Law, Price Law, Law on Credit Institutions, etc.

- Focus on reviewing and proposing solutions to handle mechanisms, policies, and legal regulations that are still contradictory, overlapping, inadequate, and not suitable for practice, thoroughly removing difficulties and obstacles to immediately amend and supplement documents within authority; propose to the Government and the Prime Minister to amend and supplement documents within authority and report to the Steering Committee to review and handle obstacles in the system of legal documents to synthesize and propose to the Government to report to the National Assembly on obstacles and bottlenecks that need to be focused on removing at the legal level.

- Promote reform, cut and simplify administrative procedures, digital transformation, improve the investment and business environment to remove difficulties, create convenience, reduce compliance costs for people and businesses; in which, focus on thoroughly handling problems related to value-added tax refunds, fire prevention and fighting, traceability, etc.

- Complete the dossier to submit to the Government the project on rearranging administrative units at district and commune levels for the 2023-2025 period, ensuring completion before September 30, 2024 to prepare for the Party Congresses at all levels for the 2025-2030 term.

b) The Ministry of Justice synthesizes the content of reports from ministries, agencies and localities on the review of legal documents, identifies obstacles and bottlenecks that need to be focused on removing at the legal level to propose the Government to report to the National Assembly at the 8th Session of the 15th National Assembly to consider and issue appropriate and effective documents to immediately handle legal problems and obstacles arising in practice, hindering development.

c) The Ministry of Planning and Investment directs the General Statistics Office to urgently develop the National Statistical Database according to Decision No. 1627/QD-TTg dated December 15, 2023 of the Prime Minister.

9. Strengthen discipline and administrative order; strictly implement the Government's Working Regulations and the Prime Minister's direction.

Ministries, agencies and localities, based on their assigned functions, tasks and powers, shall proactively and actively carry out the tasks assigned by the Government and the Prime Minister, especially the projects in the Working Program of the Politburo, the Secretariat, the Working Program of the Government and the Prime Minister; promptly complete overdue projects and tasks, and immediately overcome the overdue situation of assigned tasks. Improve the effectiveness of coordination between ministries, agencies and localities, ensuring timeliness, synchronization, closeness and efficiency. Strengthen inspection and examination of public services; resolutely rectify and overcome the situation of evasion and shirking of responsibility by a number of cadres, civil servants and public employees.

10. The Government Office, according to its assigned functions and tasks, monitors and urges the implementation of this Official Dispatch.

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