Resolution No. 28/NQ-CP: Consistent Objectives for Promoting Growth while Maintaining Macroeconomic Stability

The government mandates that ministries, agencies, and localities must firmly and consistently prioritize goals to promote growth while maintaining macroeconomic stability, controlling inflation, and ensuring the major balances of the economy.

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Government agencies and localities are determined and consistent in prioritizing growth while maintaining macroeconomic stability.

The government has just issued Resolution No. 28/NQ-CP dated March 5, 2024 at the regular government meeting of February 2024.

In the resolution, the government requires ministries, agencies, and localities to continue to uphold a sense of responsibility, high determination, great effort, robust action, meticulous review of tasks in March and the first quarter of 2024 to focus on directing and organizing effective implementation; firmly and consistently prioritize growth while maintaining macroeconomic stability, controlling inflation, ensuring the major balances of the economy, social welfare, and people’s lives in line with the spirit of Conclusion No. 64-KL/TW dated October 18, 2023 of the 8th Central Committee, 13th tenure.

In particular, ministries, agencies, and localities, based on their functions and tasks, are authorized to effectively implement the 2024 Work Program of the Party Central Committee, the Party Secretariat, the Government’s Work Program, and the Prime Minister’s Program of Action; coordinate with relevant agencies in drafting specific regulations and guidelines for implementing laws, resolutions passed by the 15th National Assembly at the 6th Session and the 5th extraordinary session for promulgation within their jurisdiction or submission to authorities with the authority to issue; carefully prepare the contents to serve the 7th Session of the 15th National Assembly, ensuring quality and progress, especially regarding new regulatory, policy, and institutional issues, experiments, and peculiarities.

In addition, actively and effectively coordinate with relevant ministries, agencies, and localities in the process of handling work. For files, projects, initiatives submitted to the government and the Prime Minister that have different opinions among ministries and agencies regarding the main contents of the initiatives, especially projects and draft legal documents, the ministers or heads of the agencies in charge must be responsible, actively work directly with ministers or heads of the agencies with different opinions to exchange and agree before submitting to the government and the Prime Minister in accordance with the regulations of the government working rules to save time and handle issues thoroughly in case of different opinions.

Promote real estate, securities, corporate bonds, and labor export markets

The government requires ministries, agencies, and localities to strengthen research, forecasting, and advisory work to serve the management of the economy and society, in order to have timely appropriate policy responses, be proactive, adaptive to new situations and adjust policies of other countries; absolutely should not be subjective, careless, negligent. Amend, supplement immediately by authority or submit to authorities with jurisdiction to amend, supplement, regulations that are not suitable with practice to ensure effectiveness and compliance in solving tasks, while encouraging officials, civil servants to be dynamic, creative, daring to think, daring to do, daring to take responsibility for the common interests.

Monitor and closely follow the implementation of issued mechanisms, policies, and tasks assigned by the government, the Prime Minister, and authorities with the authority to assign to urge and resolve difficulties, ensuring the quality and progress of work. Timely direct functional forces to review, understand the situation, detect negative signs, abnormalities in the implementation of tasks, especially in areas prone to violations, corruption, to handle violations strictly in accordance with the provisions of the law, without exception, without prohibited areas.

Promote strong breakthroughs in institutional mechanisms, human resources, infrastructure, and strong restructuring of the economy linked to innovative growth models based on the platform of science and technology and innovation. Accelerate the progress of implementing strategic transportation projects and important national projects such as airports, seaports, highways, inter-regional and inter-provincial projects. Implement effective solutions to remove difficulties, promote the real estate, securities, corporate bonds, and labor export markets. Actively plan and ensure sufficient electricity supply for production and business. Tight control and efficient use of land, resources, environmental protection, proactive prevention, and response to climate change.

Promote strong investment in developing conglomerates, state-owned enterprises

Ministries, agencies, and localities should thoroughly direct and instruct the authorized representatives of the state capital at enterprises to effectively implement Directive No. 07/CT-TTg dated February 22, 2024 of the Prime Minister on corporate governance innovation, improving business efficiency, and promoting strong investment in developing conglomerates, state-owned enterprises.

Continue providing official and guiding information to information and communication agencies; focus on handling social issues of public concern, and prevent media crises. Build plans and allocate budgets to order press agencies to implement policy communication according to Directive No. 07/CT-TTg dated March 21, 2023 of the Prime Minister on strengthening policy communication work.

Provinces and centrally-run cities in coastal areas should be proactive, actively and closely coordinate with the Ministries of Agriculture and Rural Development, Public Security, Information and Communications to strengthen propaganda on handling illegal fishing incidents by foreign vessels to raise public awareness in combating illegal, undeclared, and unregulated (IUU) fisheries.

Ministries, agencies, and localities should focus on implementing commitments and cooperation agreements signed in high-level foreign affairs activities, timely report results, progress, propose solutions to ensure substantive and effective implementation.

The government also requires the Ministry of Finance to lead, coordinate with agencies and localities in managing fiscal policy, expanding reasonable and focused fiscal policies; implement measures to improve the efficiency of state budget revenues, expand revenue bases, ensure accurate, sufficient, timely collection of taxes and prevent tax losses. Review and issue regulations by authority or submit to authorities with authority to issue policies on tax exemptions, reductions, deferrals, fees, land use fees, etc. to continue to remove difficulties for production, business, create employment, and contribute to economic growth. Strengthen budget savings, especially regular spending, review and reduce unnecessary spending tasks.

Increase access to credit

The State Bank of Vietnam shall lead, coordinate with agencies and localities in implementing monetary policies actively, flexibly, timely, effectively, and harmoniously with fiscal policy and other macroeconomic policies; reasonable control between exchange rates and interest rates appropriate to market conditions, macroeconomic developments, and monetary policy objectives. Encourage credit institutions to reduce costs to lower lending interest rates; review loan conditions, simplify loan procedures to facilitate, open, flexible, feasible lending, more favorable; restructure loans to overcome difficulties for businesses and people, increase access to credit.

The Ministry of Transport shall lead, coordinate with agencies and localities to concentrate on implementing proper, scientific, and efficient traffic organization and control activities in order to ensure traffic safety on phased scale highways, ensuring the lives, health and property of the people. Coordinate with relevant ministries, agencies, and localities to review, invest in completing road junctions, connecting to maximize the effectiveness of operating highways.

Nhat Quang