In the afternoon of August 14, Prime Minister Pham Minh Chinh chaired the conference on reviewing a decade of implementing Directive 40 by the 11th-tenure Party Central Committee’s Secretariat on strengthening the Party’s leadership over social policy credit.
The Prime Minister emphasized the continued recognition of social policy credit as an important solution to realizing the Party and State’s guidelines, policies, objectives, and tasks regarding economic growth in tandem with social progress. This also includes achieving national target programs and fostering the country’s socio-economic development in a rapid and sustainable manner.
Prime Minister Pham Minh Chinh speaks at the conference. Photo: Nhat Bac
Therefore, the Prime Minister requested that central ministries and sectors proactively report and advise the National Assembly, the Government, and the Prime Minister on balancing and allocating sufficient charter capital, interest rate subsidies, management fees, and capital for new social policy credit programs. This ensures that the resources for the Vietnam Bank for Social Policies’ operations are included in the medium-term and annual public investment plans.
He also instructed them to carefully study and report to competent authorities for consideration and permission to increase the issuance limit of government-guaranteed bonds. This will enable the Vietnam Bank for Social Policies to access ODA resources and diversify its capital mobilization methods, thereby bolstering resources to expand the scope and increase loan levels for credit programs. These efforts align with socio-economic development goals and the implementation of national target programs in the upcoming period.
Additionally, it is necessary to continue reviewing and perfecting mechanisms and policies related to credit, finance, labor, and salaries to facilitate the development of the Vietnam Bank for Social Policies. The aim is to establish an autonomous, stable, long-term, and sustainable organization with enhanced capacity to effectively implement social policy credit.
Particularly, the Prime Minister requested the effective implementation of Directive 34 by the Party Central Committee’s Secretariat on strengthening the Party’s leadership over social housing development in the new situation.
He instructed the Ministry of Construction to take the lead and coordinate with relevant ministries and sectors to research and develop a VND 30,000 billion package, comprising VND 15,000 billion from the issuance of government bonds and VND 15,000 billion from local budgets. This package will then be assigned to the Vietnam Bank for Social Policies for execution.
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