Growth must rely on science and technology, innovation
Prime Minister Pham Minh Chinh has just signed Directive No. 05/CT-TTg on key and breakthrough tasks and solutions to promote economic growth and accelerate the disbursement of public investment capital, ensuring the national growth target of 8% or more in 2025.
The Directive emphasizes that the growth target of 8% or more in 2025 is a difficult and challenging task, but must be determined to complete it to create momentum, create momentum, and create a position for the following years to have double-digit growth. The Government's guiding and operating viewpoint is to have rapid economic growth but must be sustainable, ensure macroeconomic stability, major balances of the economy, and control inflation. Economic growth must rely on science and technology, innovation and digital transformation.
In the directive, the Prime Minister requested to immediately remove and free up resources of the economy. The Prime Minister assigned the Ministry of Finance to continue researching and proposing policies on tax, fee, charge and land rent exemption, reduction and extension... to support people and businesses, promote production and business activities. The Ministry of Finance shall report to competent authorities before March 15, 2025.
Strengthen revenue management, especially revenue from e-commerce activities and food and beverage services, and must complete digitalization by the second quarter of 2025 at the latest. Strive to collect the state budget in 2025 at the highest level.
Assign the State Bank to regularly monitor and closely monitor the developments of deposit and lending interest rates of commercial banks. Strengthen the effectiveness of inspection, examination, control and strict supervision of the activities of credit institutions, especially the public announcement of deposit interest rates and lending interest rates.
" more drastically and effectively implement solutions according to authority to reduce lending interest rates. Create conditions for people and businesses to access loans at reasonable costs, cheap capital to recover and develop production and business, promote economic growth", the Prime Minister requested.
Research to increase the scale of the lending program for the forestry and fishery sector to about VND100,000 billion and expand the scope of the program for the agriculture, forestry and fishery sector. Continue to research and implement preferential credit packages to promote economic growth drivers and for young people under 35 to buy houses.
All procedures related to businesses must be done online
The Directive also requires continuing to prioritize time and resources to focus on perfecting institutions, mechanisms, policies, and legal regulations. The Prime Minister requested to focus on reviewing and cutting administrative procedures (APs) to reduce inconvenience and save costs for people and businesses. Improve the investment and business environment, create all conditions to quickly resolve investment procedures, encourage investment of all economic sectors.
Strive to reduce at least 30% of the time for handling administrative procedures in 2025; reduce at least 30% of business costs; abolish at least 30% of unnecessary business conditions. All procedures related to enterprises must be carried out online, smoothly, seamlessly and effectively, ensuring transparency and minimizing paperwork. 100% of administrative procedures are implemented regardless of administrative boundaries within the provincial level.
Assign the Ministry of Finance to conduct a comprehensive review of investment and business conditions, operating conditions, administrative procedures and compliance costs of enterprises. Preside over and coordinate with relevant agencies to continue to vigorously implement solutions to synchronously develop financial markets and capital markets. In 2025, strive to complete the goal of upgrading the stock market.
The Ministry of Finance shall preside over and the State Bank, according to its assigned functions and tasks, propose and submit to the Government in March 2025 on a legal framework for management and promotion of the development of healthy and effective digital assets and digital currencies.
