Topic: policies

PM Pham Minh Chinh directs easing of credit constraints and interest rate reductions to support businesses

NA and government resolutions prioritize boosting growth and stabilizing the macro-economy, speaker at VnEconomy forum tells audience.

The Railway Law 2017 is being reviewed and evaluated by units to identify specific amendments and supplement policies suitable to the new circumstances and to revive railway transport and promote the inherent advantages of this mode of transport. The competitiveness of railway transport compared to other modes is low, with the market share of passengers and cargo declining every year.

The Ministry of Labor, Invalids and Social Affairs has said that the 2013 Law on Employment prescribes many policies to support employment but limitations have been revealed during implementation. It has proposed that policies be added to support labor market development, create sustainable jobs, improve incomes, and expand unemployment insurance for beneficiaries as well as workers overseas.

Vietnam’s real estate market has exhibited a number of shortcomings in recent times, with prices rising compared to incomes and the market information database lacking synchronization and transparency. State management agencies are now reviewing regulations, identifying ways to diversify capital sources, and proposing policies to create new development drivers for the market.

Many new policies on labor and wages come into effect in September, such as a regulation on a two-day holiday for National Day, regulations on working time and rest periods for employees who operate, maintain, or repair gas distribution pipelines and gas works, and a pilot on work and vocational guidance and training for inmates outside of prison.

Enterprises have proposed that the government direct the maintenance of policies to support businesses in regard to taxes, fees, and credit, and to accelerate economic support packages. The State Bank of Vietnam should consider raising credit space for commercial banks to promote production and services, especially in key areas such as tourism, industry, trade, and agriculture, forestry, and fisheries.

South-central Binh Thuan province currently has 36 industrial clusters on a total area of nearly 1,200 ha and with more than 170 projects. To further develop the cluster, the province will issue a policy supporting investment in technical infrastructure.

Policymakers, businesses, and representatives from associations attending the Business Leaders Forum 2022 discussed the labor changes needed as businesses recover from Covid-19.

New policies taking effect from June include regulations on the establishment and transformation of enterprises in which 100 per cent of charter capital is held by the State, regulations on linking vocational training with foreign countries, and regulations on postal rates.