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| Illustrative image__Photo:VNA |
Prime Minister Pham Minh Chinh has sketched key tasks and breakthrough solutions to boost economic growth and public investment disbursement so as to achieve the GDP growth of at least 8 percent in 2025.
Directive 05/CT-TTg signed by the governmental leader on March 1 acknowledges the challenges in achieving this target but underscored to need to build momentum for sustained double-digit growth in the coming years.
The key measures include rigorously and effectively implementing resolutions and conclusions of the Party Central Committee, Politburo, National Assembly, and Government, and capitalizing on new policies and mechanisms to unlock economic resources.
The State Bank of Vietnam is assigned to adopt a flexible and proactive monetary policy, ensuring stable interest rates, exchange rates and credit growth among other economic indicators. In the meantime, the Ministry of Finance is tasked with proposing tax cuts, fee reductions, and extended payment deadlines to support businesses and boost domestic production and consumption.
Governmental agencies and local authorities are requested to facilitate businesses in implementing pilot programs and special economic policies in hi-tech industrial zones while the Ministry of Agriculture and Environment is required to set green project classification criteria serving the attraction of sustainable investment.
The directive underlines the necessity to maximize benefits from 17 free trade agreements (FTAs) while negotiating new ones with Middle Eastern countries, Switzerland, Norway, Finland, India, and Brazil among others. In addition, cross-border e-commerce oversight will be strengthened, while service exports, logistics, and international cooperation on digital trade will be expanded.
The directive also calls for policies to promote investment in key infrastructure projects, including the North-South high-speed railway, urban rail networks, international rail connections and offshore wind power.
With accelerating public investment considered an important task, ministries and local administrations must ensure at least 95 percent disbursement of allocated funds this year. The Government also aims to complete 3,000 km of expressways, 1,000 km of coastal roads, and key airport and seaport projects.
Beyond economic growth, the directive also underscores the importance of environmental protection, preparedness for disasters, and response to climate change, cultural development and social welfare.- (VLLF)
