The Standing Government agreed: In the first months of 2023, under the leadership of the Party, the participation of the entire political system, the Government and the Prime Minister have given many drastic, flexible, timely and effective directions, ministries, branches and localities have made many efforts and high determination in organizing and implementing; thanks to that, our country's socio-economy has achieved many positive results, the macroeconomic foundation continues to be maintained, inflation is controlled, economic growth is promoted, and major balances are ensured.

However, in the context of many difficulties in the world and in the country, the coming time requires all levels and sectors to be more drastic and proactive in order to have faster, more timely and more effective policies and management solutions to remove difficulties for businesses and people, continue to maintain macroeconomic stability, promote production and business activities, and contribute to socio-economic recovery and development.

The right balance between inflation and growth

The Government Standing Committee requests ministers, heads of ministerial-level agencies, government agencies, and Chairmen of People's Committees of provinces and centrally run cities to thoroughly grasp the goal of focusing on prioritizing growth, maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy and social security; further promoting the functions, tasks, and powers of each ministry, agency, and locality, especially the leader, in directing and promptly and effectively resolving urgent tasks and solutions in the immediate future; at the same time, deploying tasks and solutions in the medium and long term to promote rapid and sustainable socio-economic recovery and development.

Removing difficulties for businesses and people, continuing to maintain macroeconomic stability, promoting production and business activities. Illustration photo: baochinhphu.vn

Uphold the spirit of solidarity, unity, and consensus, maximize creativity, self-reliance, and self-improvement, and best complete assigned tasks according to the principle of "doing real work, being effective, and enjoying real benefits for the people"; absolutely not being subjective but also not being pessimistic; being proactive and creative to find effective solutions to take advantage of opportunities, while overcoming limitations, shortcomings, difficulties, and obstacles according to assigned functions, tasks, and areas of management.

Continue to operate monetary policy firmly, flexibly, proactively, promptly and effectively; closely and harmoniously coordinate with a reasonable, focused, key expansionary fiscal policy and other macroeconomic policies to promote growth, maintain macroeconomic stability, control inflation, ensure major balances of the economy; and reasonably balance inflation and growth, interest rates and exchange rates.

Promoting growth drivers on both the supply and demand sides

The Government Standing Committee requested to review current mechanisms and policies to find solutions and measures to promote growth drivers on both the supply and demand sides. In particular, regarding consumption, there must be effective solutions to promote consumption and stimulate domestic market demand; improve the quality and competitiveness of domestic products and goods; promptly issue a Government Decree on reducing 50% of registration fees for domestically produced and assembled cars; promptly implement the 2% reduction in value added tax after the National Assembly approves.

Regarding investment, continue to promote public investment disbursement, promote the effectiveness of the 5 Working Groups to inspect, urge, remove difficulties and obstacles, promote disbursement of public investment capital; have feasible and effective solutions to promptly handle difficulties and obstacles in public investment disbursement; focus on investing in infrastructure development, especially transportation, energy, digital transformation; facilitate public-private partnership, private investment and FDI (especially FDI projects in the field of renewable energy), effectively handle and resolve difficulties and obstacles of enterprises, including land problems, free up resources, increase investment attraction; urgently complete investment procedures for expressway projects, some airports under the form of public-private partnership (such as Ninh Binh - Hai Phong expressway through Nam Dinh, Thai Binh, Chon Thanh - Gia Nghia expressway, etc.).

Regarding exports, enhance the effectiveness of trade promotion activities, maintain and consolidate traditional markets, effectively implement signed FTAs; continue to expand new markets (Middle East, Africa, etc.), promote negotiations and sign new agreements, commitments, and trade links; have effective solutions to improve the quality of export goods, especially agricultural products exported to markets such as Japan, Korea, etc.

Promote administrative procedure reform, improve the investment and business environment; simplify and standardize investment and construction procedures to implement in the electronic environment; continue to improve bidding and auction procedures; enhance the application of science and technology, train high-quality human resources, promote digital transformation, develop green economy, circular economy, sharing economy; improve the production capacity of enterprises, industries, regions and the entire economy.

Focus on handling recommendations related to production, business, public investment, infrastructure construction and import and export.

Ministers, heads of ministerial-level agencies, government agencies, and Chairmen of People's Committees of provinces and centrally-run cities, according to their assigned functions and tasks, focus on directing the drastic implementation of tasks and solutions to remove difficulties for production and business activities and promote growth as set out in Government Resolutions and directive documents of government leaders; strengthen inspection and control of the performance of tasks by subordinate agencies, take responsibility for the implementation results and urge, inspect, and implement the information and reporting regime as prescribed.

Proactively and actively work with the National Assembly, the National Assembly Standing Committee, and National Assembly agencies to promptly report, explain, provide information, and remove obstacles to issues of interest to the National Assembly and voters, and issues submitted by the Government to the National Assembly and the National Assembly Standing Committee.

Regularly monitor, grasp the situation, forecast, analyze the situation, avoid being passive and surprised. Strengthen close and effective coordination with relevant ministries and agencies in resolving and handling work. For issues with different opinions, ministers and heads of ministerial-level agencies will work directly to reach consensus. In case of disagreement, they will report to the Deputy Prime Minister in charge of the field to organize a meeting to handle immediately; promptly handle and overcome the situation of cadres shirking responsibility, avoiding responsibility, affecting the common work.

Based on the synthesis of the working results of the working delegations according to Decision No. 435/QD-TTg dated April 24, 2023 of the Prime Minister, focus on effectively and promptly handling recommendations related to the situation of production, business, public investment, infrastructure construction and import and export according to the principle: Issues under the authority of localities shall be handled by localities; issues under the authority of ministries and central agencies shall be promptly handled by ministries and agencies according to their authority; for issues under the authority of the Government, the Prime Minister and the Government Office shall synthesize and report to the Government and Government leaders for timely and effective handling.

Reduce operating interest rates immediately in June 2023

The Government Standing Committee requests the State Bank of Vietnam, in accordance with its assigned functions, tasks and authority, to promptly and effectively implement monetary policy tools; promptly have practical and specific solutions to reduce interest rates; including reducing operating interest rates in June 2023 and orienting to reduce deposit and lending interest rates for customers of credit institutions to actively support businesses and people to restore production and business, promote growth; effectively overcome the low credit growth of the past 5 months.

Determine the necessary and reasonable credit growth limit in 2023, allocate the full credit limit and publicly announce it in June 2023 so that credit institutions can proactively expand credit from now until the end of 2023; pay attention to real estate credit and production and business credit to support the market, contributing to restoring and unblocking investment and business capital flows for the economy.

Focus on operating the interbank market, creating liquidity conditions for credit institutions in the direction of gradually reducing interest rates, ensuring capital for credit institutions, and promoting the leading role of state-owned commercial banks.

Continue to reform, cut administrative procedures, reduce costs, further improve access to capital for businesses and people; resolutely cut unnecessary fees and charges to support customers in borrowing capital.

Urgently review, consider, and appropriately amend a number of criteria, conditions, and lending guidelines to enhance businesses' access to credit, especially small and medium-sized enterprises.

There are solutions to remove credit difficulties for businesses and real estate projects, especially for feasible and effective projects and capable businesses.

Research and propose practical solutions to support businesses; at the same time, strengthen inspection, examination, supervision, and ensure the safety of the credit institution system.

Review the credit packages of VND40,000 billion and VND120,000 billion with more timely, favorable, open, flexible, feasible, and reasonable lending conditions.

Urgently propose a VND10,000 billion credit package to support businesses in the forestry and seafood production and processing industries, and appropriate support credit packages for other necessary fields.

Direct and call on commercial banks to promote social responsibility, business ethics, promote the spirit of companionship and share difficulties with businesses and people.

Quickly refund value added tax for businesses

  The Ministry of Finance promptly carries out value-added tax refunds for businesses, ensuring simple, quick and convenient procedures.

Urgently submit to the Government a Decree on reducing 50% of registration fees for domestically manufactured and assembled cars before June 20, 2023; proactively and promptly implement the policy of reducing value added tax by 2% after it is approved by the National Assembly. At the same time, submit to the Government and the Prime Minister on the implementation of the global minimum tax in time for submission to the 6th session of the 15th National Assembly. Continue to review and implement exemptions and reductions of fees and charges for businesses. Focus on reviewing, having specific solutions, roadmaps, and plans to promptly and effectively handle issues of the individual corporate bond market and the insurance market.

The Ministry of Planning and Investment continues to strongly promote the disbursement of public investment capital; urgently review legal and administrative obstacles and difficulties to propose amendments towards increasing decentralization and delegation of power to localities.

Review and reduce business conditions, especially for enterprises, FDI projects, small and medium enterprises; synthesize and submit to the Government for promulgation a Resolution on tasks and solutions to remove difficulties for production and business, stabilize the macro-economy, control inflation, promote growth, ensure major balances of the economy and social security in the new situation, and report to the Government at the regular Government meeting in June 2023.

Completely resolve the power shortage in June 2023

The Ministry of Industry and Trade performs well its state management role, has specific programs, plans and measures to ensure sufficient electricity for production and consumption. Focus on implementing the VIII Power Plan, speeding up the progress of Quang Trach II Power Plant; coordinate with the State Capital Management Committee at Enterprises to focus on leading and directing the implementation of the 500kV transmission project from the Central region to the North. Coordinate with the Ministry of Home Affairs and the State Capital Management Committee at Enterprises to promptly complete the procedures for transferring the National Power System Dispatch Center to the Ministry of Industry and Trade in June 2023.

Research and develop investment incentive policies and mechanisms to mobilize rooftop solar power resources to serve people's activities and public offices; direct electricity purchase and sale mechanism (to be completed in July 2023).

The State Capital Management Committee at Enterprises directs corporations and general companies to improve capital use efficiency, promote the role of state-owned enterprises in participating in the implementation of socio-economic development projects and works; focuses on directing the Vietnam Oil and Gas Group and Vietnam Electricity Group to completely resolve the power shortage in June 2023; closely coordinates with the Ministry of Industry and Trade in handling arising problems.

Speed ​​up the progress of real estate projects, remove obstacles in the supply of sand, stone, gravel and construction materials

The Ministry of Construction directly works with localities and enterprises to remove difficulties and obstacles, speed up the progress of real estate projects, especially large projects. Review and amend regulations on construction unit price norms; remove obstacles in the supply of sand, stone, gravel and construction materials.

According to its functions, tasks and authority, the Ministry of Construction shall closely coordinate with the Ministry of Public Security and relevant agencies to review and complete legal regulations; promptly and thoroughly handle problems related to regulations and standards on fire prevention and fighting safety for houses and constructions, in accordance with the reality and reasonable conditions of enterprises.

The Ministry of Public Security shall proactively develop documents guiding the implementation of the Law on Entry and Exit after it is passed by the National Assembly, coordinate with the Ministry of Foreign Affairs and relevant agencies to plan to propose visa exemption policies for countries after the Law on Entry and Exit is passed; proactively grasp the situation at the grassroots level, promptly detect and handle, and avoid complicated issues related to security, order, and social safety; strengthen information security, network security, and prevent and combat cybercrime.

VIET CHUNG