Prime Minister Le Minh Hung requested ministries and localities to update growth scenarios monthly and quarterly to remove bottlenecks.
The direction was stated by Prime Minister Le Minh Hung at the regular Government meeting on September 3, in the context that the remaining time of the year is not much and the growth target is set at a high level.
According to the Prime Minister, ministries, agencies and localities need to regularly review and update growth scenarios monthly and quarterly. Bottlenecks affecting growth goals must be identified and removed, especially in industries and localities that play a driving role and have large growth potential.
Promoting growth, according to the head of the Government, must go along with maintaining macroeconomic stability and controlling inflation. Agencies need to proactively regulate prices of essential goods and services, increase market management and handle profiteering and unreasonable price increases.
At the meeting, the Prime Minister also asked the State Bank to continue operating flexible monetary policy, focusing credit on priority areas, key projects, and controlling risky areas. This agency must evaluate the "balance point" between controlling inflation and supporting growth, determine warning thresholds, keep liquidity stable and strive to reduce lending interest rates.
With fiscal policy, the Ministry of Finance is required to continue implementing policies on exemption, reduction, and extension of taxes, fees, and charges to support people and businesses. The VAT refund process for exported goods also needs to be reviewed in the direction of increasing risk classification and quickly processing documents of businesses that comply well, thereby reducing time and costs.
Public investment continues to be identified as a growth driver. The Ministry of Finance urges disbursement and ensures 100% completion of the assigned capital plan. Capital, corporate bond and securities markets also need to continue to develop to supplement resources for the economy and reduce dependence on credit.
After 8 months, disbursement of public investment capital reached nearly 510,000 billion VND, equivalent to 49.8% of the plan. The Prime Minister assessed that progress in some key ministries and projects has not changed positively, there are still problems with site clearance, material supply, labor and rising costs.
In addition, ministries and branches are required to synchronize solutions to promote exports, control trade deficit, and aim for balanced trade to serve the "double-digit" growth target.
The Ministry of Industry and Trade is assigned to analyze groups of goods with reduced exports and large trade deficits to find appropriate solutions. This agency must speed up negotiations on trade agreements with new partners and increase promotion in markets such as Halal, Latin America, and Africa. Orders for high-demand world goods such as electronics, machinery, agricultural and aquatic products need to be taken advantage of.
This Ministry must also monitor gasoline and energy prices, ensuring enough electricity for production, business, and daily life. The industry and trade sector needs to accelerate key power, oil and gas projects and soon restore operation of biofuel production plants.
According to the report at the meeting, the macro economy in the first 8 months of the year was basically stable. Budget revenue reached 2.03 million billion VND, equal to 80% of the estimate. Total import-export turnover reached 770.14 billion USD, up 28.7% over the same period.
Industrial production continued to increase, with August IIP 14.4% higher over the same period and the eight-month average increased nearly 12%. Registered FDI capital reached 40.63 billion USD, an increase of 55.4%, while realized capital reached 17.25 billion USD, an increase of 12%.
The Prime Minister said that from now until the end of the year, there is not much time left while the requirements are heavy, Government members must promote responsibility, initiative and flexibility to implement the set goals.
