Prime Minister Pham Minh Chinh has asked ministries, sectors, and localities to continue taking measures to remove difficulties facing the financial, corporate bond, and real estate markets.
Speaking at a government meeting on April 25, the Prime Minister directed the State Bank of Vietnam, the Ministry of Finance (MoF), and the Ministry of Construction to effectively implement documents and settle legal obstacles in the three markets and supervise the implementation process.
Regarding the financial market, they were instructed to guide and supervise the implementation of relevant policies at credit institutions, ensure safety in the system, and avoid risks from legal violations, while applying interest rate reductions to boost capital access and absorption capacity by individuals and businesses.
For the corporate bond market, it is crucial to design tools, methods, and measures to provide the necessary conditions for bond issuers to pay bondholders in accordance with the law, he said.
To support the real estate market, it is necessary to provide capital assistance to businesses to complete works and projects to bring more products to the market, and to reform administrative procedures. He asked real estate companies to restructure market segments in line with people’s demand and payment capacity as well as to make full use of the VND120 trillion ($5.1 billion) support package for social housing and housing for workers.
Prime Minister Chinh required that State-owned commercial banks guide the financial market and support economic development through interest rate reductions.
He also assigned specific tasks to particular ministries and sectors to continue cutting administrative procedures, completing planning, settling obstacles in land, and speeding up public investment disbursement.
He asked the MoF to complete a plan to cut value added taxes by 2 per cent and reduce land lease fees, for consideration and approval, and to finalize a report on impact assessments and plans to apply the global minimum tax.
The government is consistent with its goals of maintaining macro-economic stability, controlling inflation, promoting growth, and ensuring major economic balances to create conditions for production and trade activities, the Prime Minister said.
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