The Government assigns the Ministry of Home Affairs to take the lead, in coordination with agencies and localities, to urgently develop a scheme for the continued reorganization of administrative units (at the provincial, district, and communal levels) towards a streamlined, effective, and efficient structure. The scheme must be of sufficient quality and progress to be reported to the Politburo in a timely manner, as per Conclusion No. 127-KL/TW dated February 28, 2025.
Urgently Develop a Scheme for Provincial Merger and District Abolition
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This directive is clearly stated in the Resolution of the Government’s regular meeting for February 2025, which has just been issued. The Resolution requires the consolidation of opinions from ministries, agencies, and localities regarding proposed decentralization and delegation of authority, to be reported to the Government and the Prime Minister as required.
To accomplish the tasks and solutions for socio-economic development in 2025, the Government requests that ministries, sectors, and localities vigorously promote high but sustainable growth, in conjunction with maintaining macroeconomic stability, curbing inflation, and ensuring the major balances of the economy.
Promote social investment and mobilize all resources for development, with a focus on the private sector, considering it as one of the most important drivers of growth (contributing 50% to GDP, attracting 82% of the labor force, and accounting for 25% of exports…), increasing labor productivity, and enhancing the competitiveness of the economy.
The Government requests that the Ministry of Finance promptly submit to the Government decrees on the extension of the deadline for value-added tax, corporate income tax, personal income tax, and land lease payments in 2025, as well as a decree on the extension of the deadline for special consumption tax on domestically produced and assembled automobiles.
At the same time, research and propose a reduction in value-added tax and an expansion of the scope of tax reduction to be applied in the last six months of 2025, reporting to the competent authority before March 15, 2025.
The State Bank of Vietnam is assigned to study and supplement credit growth targets for banks within its authority, review and streamline loan procedures, and accelerate credit for schemes, projects, and areas that drive growth, especially green growth.
Concurrently, increase the scale of the credit program for the forestry and fisheries sectors to about VND 100 trillion and expand the scope and participants to establish a credit program for the agricultural, forestry, and fisheries sectors. “Direct credit institutions to continue studying and implementing preferential credit packages for people under 35 years old and those with housing difficulties,” the Government’s Resolution states.
The Government also directs ministries, sectors, and localities to synchronously deploy public investment disbursement, three national target programs, accelerate the progress of important and key national projects, develop industries, and ensure energy security.
– 13:50 10/03/2025
“The First ‘City within a City’ in Vietnam Welcomes an Array of Projects Worth 85,000 Billion VND”
This locale has just been reported on.
“HDBank Aims High: Targeting Profits of Over 20 Trillion VND by 2025 with Plans to Maintain Similar Dividend Payouts”
At the investor conference held on February 18, 2025, representatives from HDBank, one of Vietnam’s leading joint-stock commercial banks, presented an insightful overview of the country’s economic growth potential, along with the bank’s specific plans for the year 2025.
Governor of the State Bank: The Banking Sector is Ready to Support the Economy to Achieve 8% Growth and Beyond
In a volatile global economic landscape, Governor of the State Bank of Vietnam, Nguyen Thi Hong, has expressed her determination to contribute to achieving an ambitious 8% economic growth target, while also keeping inflation in check and ensuring stability in the currency market. The banking sector is projected to witness a credit growth of approximately 16%, yet it is imperative to devise synchronized strategies to mobilize and utilize capital more efficiently.
“Economic Growth: Navigating the Fine Line Between Credit Flows and Asset Bubble Risks”
It is undeniable that economic growth has become increasingly reliant on monetary policy, as the effectiveness and reach of fiscal policy have not yet met expectations. However, this dependence, if prolonged, could pose potential risks to the economy.
How to Prevent Bad Debt from Becoming an Economic Hindrance?
The rising tide of non-performing loans is a significant challenge for Vietnam’s banking system. It is not merely about managing bad debt but also about building a foundation for businesses to thrive and grow in an ever-changing world, ensuring that non-performing loans do not hinder the development of the financial system.
