Prioritize removing difficulties and obstacles for production and business, promoting growth

On August 5, chaired by Prime Minister Pham Minh Chinh, the regular Government meeting in July focused on discussing the socio -economic development situation in July and the first 7 months; key directions and tasks in August and the last months of 2023, along with a number of other important contents.

Prime Minister Pham Minh Chinh chairs the regular Government meeting in July.

State budget revenue in 7 months reached over 1 million billion VND

At the meeting, regarding the socio-economic situation, reports and opinions unanimously assessed that, despite being greatly affected by the world situation, under the leadership of the Party, the participation of the entire political system, the active participation of the people and the business community, the scientific, drastic and effective direction and management of the Government and the Prime Minister, the socio-economic situation in July was better than in June, contributing to the overall results of the 7 months.

Notably, the macro economy continued to be stable, inflation was controlled, and major balances were ensured. Inflation continued to decrease gradually while inflation in many countries continued to be high; the average CPI for 7 months increased by 3.12% (compared to the average of 6 months: 3.29%; 5 months: 3.55%; 4 months: 3.84%; 3 months: 4.18%; 2 months: 4.6% and January: 4.89%).

The monetary and securities markets are basically stable, showing a positive recovery trend, and interest rates continue to decrease. State budget revenue in the first 7 months reached over 1 million billion VND, equivalent to 62.7% of the estimate under the condition of having to extend, postpone, and reduce taxes, fees, and charges (expected for the whole year of 2023 is 200 thousand billion VND).

Prime Minister Pham Minh Chinh stated that the socio-economic situation in July and the first seven months of the year, despite facing many difficulties and challenges from both inside and outside, still achieved the general goals.

Trade and services continued to increase quite well. Total retail sales of goods and service revenue in July increased by 1.1% compared to the previous month and 7.1% compared to the same period; 7 months increased by 10.4%. International visitors in July reached more than 1 million (the month with the largest number of international visitors since the opening), up 6.5% compared to the previous month and nearly 3 times higher than the same period; 7 months reached nearly 6.6 million, 6.9 times higher than the same period. Imports and exports continued to increase again. In July, exports increased by 2.1% compared to the previous month; imports increased by 2.4%; trade surplus was 3 billion USD. In total, exports reached 195.4 billion USD in 7 months, imports reached 178.9 billion USD; trade surplus was 16.5 billion USD.

Investment capital achieved positive results. Disbursement of public investment capital in 7 months reached 267.63 trillion VND, reaching 37.85% of the plan, up 3.38% in proportion and up 80.78 trillion VND in absolute number. Total registered FDI capital in July reached over 2.8 billion USD, up nearly 9% compared to the previous month, reaching nearly 16.24 billion USD in 7 months, up 4.5%; FDI capital realized in 7 months reached 11.58 billion USD, up 0.8%. Vietnam continues to be an attractive destination for international investors.

The business development situation is more positive, in July there were 13.7 thousand newly registered businesses, an increase of 4.3% in the number of businesses and an increase of 2.4% in registered capital compared to the same period. In total, in 7 months, there were 131,900 businesses entering and re-entering the market, higher than the number of businesses withdrawing from the market by 113,300...

Be persistent, determined, and focused on achieving the overall goals set out.

In his concluding remarks, Prime Minister Pham Minh Chinh stated that the socio-economic situation in July and the first seven months of the year, despite facing many difficulties and challenges from both inside and outside, still achieved the general target. However, the Prime Minister pointed out the shortcomings, limitations, difficulties and challenges.

Inflation tends to decrease but is still under a lot of pressure. Credit growth is low, capital absorption is weak, access to capital is still difficult. State budget revenue in 7 months decreased by 7.8% compared to the same period; bad debt on the balance sheet needs attention...

The Prime Minister emphasized that the focus of direction and administration is to prioritize removing difficulties and obstacles for production and business.

In August and the last months of the year, the Prime Minister clearly stated that the situation is forecast to be more difficult, with many unforeseen issues, noting the complicated developments of natural disasters, storms and floods; however, we must persevere, be steadfast, and focus on implementing the general goals set out in the Resolution of the 13th National Party Congress and the resolutions of the Central Committee, the Politburo, the National Assembly, and the Government.

The Prime Minister emphasized that the focus of direction and management is to prioritize removing difficulties and obstacles for production and business, promoting growth, creating jobs and livelihoods for people in conjunction with stabilizing the macro economy, controlling inflation, improving people's lives, ensuring social security, maintaining national defense, security, political stability, social order and safety, and promoting foreign affairs, especially with major countries.

In particular, the Prime Minister requested to pay attention to 6 contents: Ensuring balance, harmony, and rationality between interest rates and exchange rates; Prioritizing growth, promoting both total supply and total demand, and 3 growth drivers (investment, export, consumption);

Continue to implement proactive, flexible, timely and effective monetary policies (continue to reduce lending interest rates, restructure debt, extend and defer debt..., increase credit limits, and appropriately increase M2 money supply);

Implement a reasonable, focused, effective, rapid and decisive expansionary fiscal policy (continue to exempt, reduce and extend taxes, fees and charges, accelerate tax refunds, promote public investment...);

Ensure national monetary and financial security, closely monitor internal and external situations to have timely and appropriate responses; Shorten the process and procedures for building institutions and documents.

The Prime Minister requested to promote the role of 26 working groups of the Government to work with localities, focusing on handling recommendations and proposals from localities, agencies, people and businesses.

The Prime Minister requested to promote the role of two working groups, including: The working group to develop a report assessing the socio-economic situation in 2023 and tasks and plans for 2024, headed by Deputy Prime Minister Le Minh Khai and the Minister of Planning and Investment as Deputy Head; The working group to review, build and perfect legal institutions, headed by Deputy Prime Minister Tran Luu Quang and the Minister of Justice Le Thanh as Deputy Head.

To serve two very important events at the end of the year, the Central Conference and the National Assembly session, the Prime Minister requested ministries, branches and localities to urgently synthesize, classify and propose solutions to legal problems.

Assigning specific tasks to ministries, sectors and localities, the Prime Minister noted that the Ministry of Finance should direct the acceleration of VAT refunds; continue to substantively and effectively handle the existing problems and shortcomings of the bond market. The Ministry of Planning and Investment, the Ministry of Information and Communications, the Ministry of Education and Training, and the Ministry of Science and Technology should develop a Human Resources Development Project, training about 30,000-50,000 engineers and 100 experts in digital transformation and semiconductor chip manufacturing.

The Ministry of Transport will start construction of Long Thanh Airport Terminal in August. The Ministry of Natural Resources and Environment will complete guidance on land valuation before August 15. The Ministry of Health will thoroughly handle issues related to the construction projects of Viet Duc Hospital and Bach Mai Hospital, branch 2.

The Ministry of Education and Training prepares well for the new school year, paying attention to ensuring enough textbooks at reasonable prices. The Ministry of Culture, Sports and Tourism builds a national target program on culture, and the Government will allocate funds for this program.

Source: https://www.congluan.vn/thu-tuong-uu-tien-thao-go-kho-khan-vuong-mac-cho-san-xuat-kinh-doanh-thuc-day-tang-truong-post259189.html