(NLDO) - To promote economic growth in 2025 from 8%, the Prime Minister paid attention to the issue of interest rates, creating conditions for people and businesses to access capital sources.
Prime Minister Pham Minh Chinh has just signed Directive No. 05/CT-TTg dated March 1, 2025 on key tasks and solutions to promote economic growth and accelerate disbursement of public investment capital, ensuring the national growth target of 8% or more in 2025.
The Directive clearly states the Government's guiding and operating viewpoint of rapid but sustainable economic growth, ensuring macroeconomic stability, improving people's material and spiritual lives, ensuring social security, social progress and equity, protecting the environment... The goal is to move towards sustainable, inclusive, comprehensive growth, bringing benefits to all people.
The Prime Minister has just issued a Directive on key tasks and solutions to promote economic growth, ensuring the target of 8% or more. Photo: NLDO
The Directive has set out key tasks and solutions to promote economic growth and accelerate public investment disbursement. In particular, it focuses 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 Government continues to assign the Ministry of Finance to consult on solutions on tax, fee, charge and land rent exemption, reduction and extension to submit to competent authorities before March 15. In addition, urgent breakthrough mechanisms and policies must be developed to develop the private economy.
Thoroughly save regular expenses to focus on development investment, immediately save 10% of regular expenses to increase the 2025 budget compared to the 2024 budget to supplement investment for the Lao Cai - Hanoi - Hai Phong railway line.
The State Bank of Vietnam (SBV) is required to operate monetary policy proactively, flexibly, promptly, effectively, closely and harmoniously in coordination with a reasonable, focused expansionary fiscal policy and other macroeconomic policies.
The Prime Minister paid special attention to the issue of interest rates, in which he assigned the State Bank to closely monitor the developments in deposit and lending interest rates of commercial banks, and to implement more drastic and effective solutions within its authority to reduce lending interest rates, creating conditions for people and businesses to access loans at reasonable costs and low capital prices to restore and develop production and business, and promote economic growth.
In addition to the inspection and supervision of interest rates, the Prime Minister requested strict handling of violations according to the law, especially credit institutions that compete unfairly on interest rates (both deposit and lending interest rates). "It is strictly forbidden for commercial banks to freely increase interest rates without direction, compete unfairly and unequally" - the Directive clearly stated.
The Government leader also directed the State Bank to continue researching and implementing preferential credit packages to promote economic growth drivers and enable young people under 35 years old to buy houses.
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.
In the coming time, the Prime Minister requested ministries, branches and localities to continue to prioritize time and resources to focus on perfecting institutions, mechanisms, policies and legal regulations. Strive to reduce at least 30% of administrative procedure processing time by 2025; reduce at least 30% of business costs; abolish at least 30% of unnecessary business conditions; all procedures related to enterprises must be carried out online, ensuring transparency, minimizing paperwork...
The Ministry of Finance is tasked with drastically implementing solutions to synchronously develop the financial and capital markets. By 2025, strive to complete the goal of upgrading the stock market.
The Head of Government also noted the task of promoting the disbursement of public investment capital, taking public investment as the leading factor, activating and attracting all social resources. Accordingly, the disbursement rate of public investment capital in 2025 is expected to reach at least 95% of the plan assigned by the Prime Minister.
In particular, the Government aims to have at least 3,000 km of highways and over 1,000 km of coastal roads by the end of 2025, basically complete Long Thanh International Airport, ports in Lach Huyen area, put into operation Tan Son Nhat T3 terminal, Noi Bai T2 terminal, start construction of Lien Chieu port, complete investment procedures for Can Gio international seaport, Ho Chi Minh City. At the same time, soon deploy other important infrastructure projects, linking the disbursement of public investment capital with the responsibility of the head.
In the directive, the Prime Minister assigned specific tasks to each ministry and sector according to their assigned functions and powers to promote private investment, attract FDI; effectively exploit the domestic market, develop e-commerce and attract tourists; promote sustainable exports; strongly promote new growth drivers, breakthroughs in science and technology development, innovation, digital transformation, high-quality human resources, etc.
Source: https://nld.com.vn/thu-tuong-yeu-cau-xu-ly-nghiem-cac-to-chuc-tin-dung-canh-tranh-lai-suat-khong-lanh-manh-196250302092803836.htm
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