Sat. Dec 9th, 2023

Prime Minister Nguyen Tan Dung has asked ministries, sectors and
localities to promptly prioritise clearing the obstacles confronted by
businesses and dealing with bad debts and inventories to create a
driving force for the economy to regain growth.

The Prime
Minister made the request at the cabinet’s monthly meeting in Hanoi
March 28-29 reviewing the nation’s socio-economic performance in March
and the first quarter of this year.

He highlighted
the consistent goal of stabilising the macro-economy, recording an
economic growth of 5.5 percent and keeping inflation lower than that of
last year in the coming time.

The ministries,
sectors and localities were requested to adopt tax incentives to enable
businesses to restore production and grow.

They need to step up
investment promotion and expansion of export markets along with carrying
out the monetary policy flexibly and effectively, and reducing lending
rates further, especially for loans in the agriculture and rural
development fields and for labour-intensive enterprises, to ensure
stable production and job creation.

PM Dung consented to some
cabinet members’ proposal of allowing foreigners to buy houses in
Vietnam as part of effective solutions to assist the bogged-down real
estate market, however, pointing to the need of tight management
regulations to prevent the negatives that may occur.

Dung called for the economy to be restructured in a drastic manner
covering the areas of public investment, State-owned enterprises and
financial market with a priority being given to commercial banks and
financial institutions.

The Government leader also
reminded ministries, sectors and localities of working together
efficiently in implementing the roadmap of increasing the price of a
number of commodities and services to avoid adverse impacts on the
national economy as well as inflation.

Due attention
continue for the execution of social welfare policies, especially for
the poor, welfare beneficiaries and those living in areas hit by natural
disasters and epidemic diseases, he said.

of Agriculture and Rural Development Cao Duc Phat and some cabinet
members shared the view that the best use of resources should be made to
boost agricultural production.

Phat suggested
slashing lending rates by 2-3 percent to make it easier for small and
medium-sized enterprises (SMEs), especially those working in
agriculture, farm produce processing and fishery, to borrow capital to
retain operation.

Meanwhile, Minister of Investment
and Planning Bui Quang Vinh and Minister of Natural Resources and
Environment Nguyen Minh Quang proposed promptly providing credits for
buyers of low-cost homes.

Some proposed that the
Government should take action to ensure the progress of national target
programmes on building new rural areas, social welfare and vocational
training and remove difficulties for the poor and ethnic minorities.

In the first quarter of this year, the nation enjoyed a
modest growth of 4.89 percent and contained inflation at a low level.
In March, there was a trade deficit, and credit and foreign exchange
reserves increasing, sending positive signals for growth recovery.

Consequently, synchronous, effective and drastic
measures should be taken to revive the economy’s growth and generate
jobs to prepare for sustainable economic development, Cabinet members

During the meeting, the cabinet members listened to and
discussed a draft decree on the establishment, organisation and
operation of the Vietnam estate management company and a bill on the
Law on People’s Public Security.

Besides, they deliberated the draft report on collecting public opinions on amendments to the 1992 Constitution.

The Government’s Steering Board reported that it has to date collected
30 reports relating to the work from ministries and Government bodies,
together with 63 reports of the municipal and provincial People’s
Councils and Committees.

PM Dung told his members
that amending the Constitution aims at building a progressive
Constitution that suits the reality and historical condition of

The amending will be grounded firmly on the basic
principles of the national construction platform adopted at the 11 th
National Party Congress.

It also aims for
successful realising the national industrialisation and modernisation,
firmly safeguarding the country’s independence, sovereignty and
territorial integrity, fully upholding human rights, citizens’ rights
and people’s right to master, and build the law-governed state of the
people, by the people and for the people, Dung added.-VNA

By vivian