On November 27, the Government Office announced that Prime Minister Pham Minh Chinh signed Official Dispatch No. 121/CD-TTg on continuing to promote domestic market development and stimulate consumption.
In the telegram, the Prime Minister assigned the Minister of Industry and Trade to continue to direct the synchronous and effective implementation of solutions to regulate supply and demand, stabilize the market and policies to encourage consumption to open up the domestic market, linking production with distribution and consumption of goods.
Review, research and propose policies to support domestic enterprises to participate in the supply chain of domestic and global products.
Strengthen state management of domestic trade, effectively implement market inspection and control measures; support businesses in handling issues related to trade defense investigations, origin fraud, anti-smuggling, trade fraud and counterfeit goods.
Research and development of a mechanism to strictly control imported goods via e-commerce is currently putting great pressure on domestically produced goods, affecting the consumption of domestic products.
Coordinate with the Ministry of Finance to propose solutions on disbursing public investment funds to implement tasks of stimulating consumption and promoting the domestic market.
The Minister of Finance shall conduct a reasonable, focused, and key expansionary fiscal policy, in synchronous, harmonious, and flexible coordination with monetary policy and other macroeconomic policies to promote growth, stabilize the macroeconomy, control inflation, and ensure major balances of the economy;
The Governor of the State Bank of Vietnam shall conduct monetary policy proactively, flexibly, promptly, effectively, in harmony and closely with fiscal policy and other macroeconomic policies;
Continue to direct credit institutions to research and develop credit products and banking services for the consumer sector to serve life. Promote the implementation of lending through electronic and online forms; simplify loan procedures, consumer loans, create favorable conditions for people and businesses to access loans to promote consumption of domestically produced goods.
Direct credit institutions to promote the implementation of credit programs and policies under the direction of the Government and the Prime Minister; regularly monitor and urge the implementation of credit institutions so that the State's policies reach the people and businesses in a timely and appropriate manner.
The dispatch also requested to continue directing commercial banks to save costs, promote the application of digital technology, and reduce loan interest rates for businesses and people to promote production and business in the last months of 2024 and early 2025.
The Minister of Construction presides over and coordinates with ministries and branches to continue urging and guiding localities to have appropriate policies to remove difficulties and obstacles in implementing real estate and social housing projects.
Promote the development of a safe and sustainable real estate market to stimulate consumption of domestically produced construction materials.
