Prime Minister Pham Minh Chinh
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The Prime Minister’s directive states that in order to promptly remove obstacles to production and business activities, stimulate domestic consumption, promote the development of the domestic market, contribute to economic growth, maintain macroeconomic stability, curb inflation, and ensure the economy’s major balances, the Prime Minister requests that ministers, heads of ministerial agencies, government agencies, chairmen of the People’s Committees of provinces and centrally-run cities, industry associations, and businesses focus on implementing a number of tasks and solutions.
Early operation of projects and investment works creating new production capacity
Regarding common tasks, the Prime Minister requests the early operation of projects and investment works creating new production capacity. This includes focusing on reviewing and prioritizing solutions to remove obstacles in the disbursement of public investment capital, credit packages, land, and policies to attract social resources to participate in projects suitable to the scale and market signals.
Unblocking the domestic market, with policies to encourage consumption and investment in areas where domestic production has strengths, there is production capacity, and the domestic market has demand.
Review and provide support policies for domestic enterprises to participate in the supply chain of supporting industry products of foreign-invested manufacturing and exporting enterprises in Vietnam.
Implement solutions to connect regions to reduce transportation costs and facilitate the circulation of goods between regions; support businesses to relocate investments to regions with competitive advantages in terms of production and business premises, abundant labor, and cheap labor costs to reduce production costs.
Ministries, agencies, and localities shall deploy the application of digital transformation technology, artificial intelligence (AI), big data, and blockchain technology to continue promoting the reform and simplification of administrative procedures.
Promote trade promotion in the domestic market, connect supply and demand, support the provision of market information, and provide legal advice to small and medium-sized enterprises.
Continue to strictly implement Directive No. 03-CT/TW dated May 19, 2021, of the Party Central Committee’s Secretariat on strengthening the Party’s leadership in the “Vietnamese give priority to using Vietnamese goods” movement in the new situation and Directive No. 28/CT-TTg dated October 26, 2021, of the Prime Minister on strengthening the implementation of the “Vietnamese give priority to using Vietnamese goods” movement in the new situation.
Forming chains of all-Vietnamese goods
The Prime Minister also assigns specific tasks to each ministry, sector, and locality. In particular, the Ministry of Industry and Trade shall promote the implementation of solutions to link production with commodity distribution, strengthen linkages in the value chain of goods, and comply with regulations on quality and food safety, forming chains of all-Vietnamese goods.
Continue to strongly implement activities to connect supply and demand of goods, promote the consumption of domestically-produced goods in traditional and modern distribution channels.
Organize promotion programs on a regional and national scale, coordinate with localities to strengthen supply-demand connection activities, distribute OCOP products, and bring goods to deep and remote areas and industrial parks to stimulate domestic consumption.
Encourage e-commerce platforms operating in Vietnam to implement domestic product consumption programs. Launch a movement to consume Vietnamese goods and local products through Vietnamese stalls and product models on e-commerce.
Organize activities to promote regional connectivity in e-commerce, cross-border e-commerce promotion activities with countries in the region, and large import markets.
Organize programs and events to support people and businesses in applying digital technology, developing new models in goods trading in the online environment, and supporting Vietnamese businesses in connecting and expanding the consumption market for domestically-produced goods.
Organize the connection of domestic enterprises in the supply chain of foreign-invested enterprises and global enterprises in Vietnam to promote the consumption of domestically-produced goods.
Implement solutions to support enterprises in handling issues related to trade defense investigations, origin fraud, and technical barriers related to the environment, sustainable development, and green transformation to promote the export of Vietnam’s key export products to large markets such as China, the EU, the US, Japan, and Korea…
Review and handle bottlenecks in projects producing industrial and processing industry products that play an important role; promptly remove difficulties so that these projects can soon be put into operation, contributing to increasing the production capacity of the economy.
Continue to implement solutions to stabilize production and balance supply and demand for essential goods to serve production and consumption at the end of the year.
Promote investment attraction in projects producing goods to replace imports, increase production capacity, and create more jobs, gradually reducing dependence on imported raw materials and materials.
Accelerating the disbursement procedure for the trade promotion programs
The Ministry of Finance shall manage the fiscal policy in a reasonable, focused, and targeted manner, coordinating in a harmonious, flexible, and synchronous manner with monetary policy and other macroeconomic policies to promote growth, stabilize the macro-economy, curb inflation, and ensure the economy’s major balances.
Direct the acceleration of the disbursement procedure for the trade promotion programs of ministries, sectors, and localities to promote the consumption of domestically-produced goods.
Coordinate with the Ministry of Industry and Trade to research solutions to tightly control imported goods through e-commerce in accordance with Vietnam’s international commitments.
Coordinate with ministries, branches, and localities to review and propose tax policies for projects attracting investment in the production of goods to replace imports.
Enhancing consumer and business loans
The State Bank of Vietnam shall manage the monetary policy proactively, flexibly, timely, and effectively, in harmony with fiscal policy and other macroeconomic policies.
Manage credit in harmony with macroeconomic developments, manage the exchange rate flexibly according to market movements to stabilize the foreign exchange market… thereby supporting the promotion of economic growth and curbing inflation.
Continue to direct the implementation of credit growth solutions, orient credit to production, business, priority fields, and growth drivers.
The State Bank of Vietnam shall direct credit institutions to research and develop credit and banking products dedicated to the field of consumption, enhancing consumer and business loans.
Promote lending through electronic and online forms; simplify loan procedures, consumer loans, and create favorable conditions for people and businesses in accessing loans to stimulate domestic consumption.
Strengthen the inspection and supervision of the implementation of credit institutions to ensure that the State’s policies reach people and businesses in a timely and accurate manner.
Direct the strong implementation of preferential credit programs such as the VND 140,000 billion credit package for social housing development loans; the “Project to build at least 1 million social houses for low-income people and workers in industrial zones in the period of 2021-2030”; and the expansion of the VND 30,000 billion credit package for the forestry and aquatic sectors.
Supporting the consumption of agricultural products in concentrated production areas
The Ministry of Agriculture and Rural Development shall direct localities to promote the development of production, consumption, and export of agricultural products for concentrated breeding and cultivation areas.
Coordinate with the Ministry of Industry and Trade and the People’s Committees of provinces and cities to effectively implement trade promotion programs, build brands, and support the consumption of agricultural products in concentrated production areas; promote green production, and ensure food hygiene and safety.
At the same time, the Ministry of Agriculture and Rural Development shall take the prime responsibility and coordinate with relevant agencies to focus on removing difficulties and obstacles related to the announcement and conformity assessment procedures for veterinary drugs; promote the opening of the official export market for agricultural products to neighboring countries such as China, and urgently negotiate and agree with relevant agencies of China to reduce the rate of quarantine of plants and animals, and facilitate the import of Vietnamese agricultural products into the Chinese market.
Having appropriate policies to promote the safe and sustainable development of the real estate market
The Prime Minister assigns the Ministry of Construction to take the prime responsibility and coordinate with ministries, sectors, and localities to have appropriate policies to promote the safe and sustainable development of the real estate market, build houses, especially social housing, to stimulate consumption of domestically-produced construction materials such as cement, steel, bricks, and tiles…
The Ministry of Planning and Investment shall continue to strongly implement solutions to improve the investment and business environment, simplify investment procedures and administrative procedures to facilitate investment and business activities of people and enterprises; take the prime responsibility and coordinate with relevant ministries and sectors to research and propose competent authorities to consider incentive policies for projects using domestically-produced raw materials and goods.
Regularly review and urge the implementation of investment projects and have handling measures for projects that are slow to implement.
Removing difficulties in terms of land to serve investment attraction and business expansion
The People’s Committees of provinces and centrally-run cities shall direct functional agencies to implement solutions in accordance with the law and suitable to the situation of each locality in removing difficulties in terms of land to serve investment attraction and business expansion of enterprises… to create new production capacity.
Well organize the domestic market, traditional and modern distribution channels, create favorable conditions for the consumption of goods; strengthen regional connectivity to exchange potentials and strengths, focusing on logistics connectivity, creating favorable conditions for the circulation of goods.
Take the prime responsibility and coordinate with ministries, sectors, and relevant agencies to implement trade promotion programs, stimulate consumption, and support the consumption of locally-produced goods, especially at the end of the year, to make the most of the domestic market. Direct the distribution system in the area to ensure the supply of essential goods.
Reducing costs and product prices
The Prime Minister requests that industry associations proactively capture market information, the needs of the market, and the difficulties and obstacles of member enterprises in producing and consuming goods to promptly propose competent authorities to support and remove them.
Groups and corporations shall focus on renovating governance, strengthening research and development, improving competitiveness, reducing costs and product prices, and enhancing operational efficiency; increase the use of raw materials and products of domestic enterprises; and coordinate with ministries, sectors, localities, and industry associations in implementing the Program on promotion and stimulating consumption of products and goods.
Direct member enterprises to build effective production and business plans, improve product competitiveness, focus on exploiting the domestic market with demand but limited supply capacity; provide information and propagate to enterprises in investment activities in projects producing import-substituting goods.
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