According to Notice No. 499/TB-VPCP issued recently the Government Office, which announced Prime Minister Pham Minh Chinh's conclusions at the September 7 meeting with the Policy Advisory Council on macroeconomic stability, stimulating consumer demand, and two-tier local government system, the Prime Minister agreed on solutions and requested Government leaders, based on their assigned functions, tasks, and authorities, to direct as follows:
- Continue to improve trade relations with the United States based on harmonious benefits and shared risks; continue to diversify markets, products, and supply chains with other regions and markets; restructure export markets to suit the situation; enhance product quality towards greening, digitalization, circular economy, and knowledge economy based on science and technology, innovation in import and export; strengthen outbound investment in areas where Vietnam has strengths and brings high efficiency; and continue to restructure foreign investment attraction on a selective basis, with policies to retain investors, encourage investment in technology, technology transfer, and create conditions for Vietnamese businesses to participate in global supply chains; and
- Continue to remove legal obstacles for lingering and slow-progress real estate projects; review and cut administrative procedures in investment and construction; further promote the supply of social housing; control real estate inventory.
To ensure macroeconomic stability, control inflation according to targets, and consolidate drivers for GDP growth to reach 8.3-8.5% in 2025 and from 10% in subsequent years, the Prime Minister requested constant attention to comprehensive risk control of the economy; to continue to expand fiscal policy with focus, operate monetary policy actively, flexibly, appropriately, and effectively, adhering closely to reality; diversify capital sources, mobilize more government bonds, focusing on large-scale projects; manage interest rates and exchange rates in a balanced and effective manner; promote public investment, determined to disburse 100% of public investment capital in 2025; continue to complete the structure and modernize the stock market; maintain stable interest rates for the Vietnamese currency; increase exports of goods and services; maintain a trade surplus; strongly attract international tourists; implement feasible solutions to balance the supply and demand of the gold market but prevent policy profiteering; simultaneously implement inspection, examination, and supervision solutions to prevent investment, hoarding, and smuggling of gold.
At the same time, according to the PM's instruction, to promote domestic production and business, reduce input costs, and increase the competitiveness of goods; research tax rates more suitable to Vietnam's situation; strengthen trade promotion, organize fairs to strongly promote, exchange goods, and connect supply and demand; continue to intensify the fight against smuggling, commercial fraud, counterfeit goods, and intellectual property infringement; promote the application of science and technology, innovation, and digital transformation to strongly boost labor productivity; implement solutions to raise the income tax threshold for domestic business households; conduct scientific and practical research on corporate income tax rates; continue to research reducing fees, charges, and input costs for businesses, thus increasing the competitiveness of Vietnamese goods domestically and globally.
Regarding strongly promoting digital transformation, there needs to be more robust mechanisms and resources to complete institutions in digital transformation; develop synchronous information technology infrastructure; foster and develop digital human resources; prioritize digital transformation and application at public service centers, the notice stated.
Effectively and reasonably equitize State-owned enterprises, based on quickly and effectively narrowing down unprofitable and inefficient industries and sectors; preserve and develop State capital.