Prime Minister Nguyen Xuan Phuc has called for the continued study of fiscal and monetary policies to stimulate the country’s economy while ensuring macro-economic stability and inflation control.

Prime Minister Nguyen Xuan Phuc (middle) at the event (Photo: VNA)

Concluding the regular Government session on socio-economic affairs on 4 September, the PM directed localities to speed up the progress of public investment capital disbursement, cut lending rates, boost exports, stimulate domestic consumption, and attract social investment.

Because of COVID-19, further attention must be paid to the digital economy and strategy, and the restructuring of manufacturing and agriculture and rural development towards building a self-sufficient economy with less reliance on imported materials, he said.

He assigned the Government, ministries, agencies, and localities, particularly major cities such as Hanoi and HCM City, to continue removing difficulties for businesses and effectively implement existing aid packages.

The State Bank of Viet Nam (SBV) must soon amend Circular No 01 to enable more people to delay debt repayments, thus preventing a surge in bad debts.

He once again asked ministries, particularly the Ministry of Planning and Investment, to tap into opportunities from shifting supply chains and investment flows to attract selected FDI.

Localities were advised to flexibly adjust planning on industrial parks (IPs) and release a list of those with clear land and infrastructure.

In order to continue stimulating the domestic market. The PM urged the issuing of policies relating to domestic tourism, retail, transportation, lodging and accommodation, health care, and education.

The SBV was asked to complete a project and Decree on fintech (financial technology) regulations, bank lending, and electronic verification. The Ministry of Information and Communications must soon submit a report on piloting mobile money services, while the Ministry of Public Security must further hasten the progress of building a national personal identity database.

Regarding the resumption of commercial flights, he reiterated the need to prevent the pandemic from spreading. The Ministry of Health must propose a quarantine plan for experts, investors, and skilled workers coming to Viet Nam.

Source: VNA