Prime Minister of Vietnam requests promotion and breakthroughs in new growth drivers such as semiconductor chips and artificial intelligence in Vietnam

Prime Minister of Vietnam requests promotion and breakthroughs in new growth drivers such as semiconductor chips and artificial intelligence in Vietnam​ (Image from the internet)

On December 20, 2024, the Prime Minister of Vietnam issued Official Telegram 137/CD-TTg regarding the promotion of economic growth in 2025.

Prime Minister of Vietnam requests promotion and breakthroughs in new growth drivers such as semiconductor chips and artificial intelligence in Vietnam​ (Image from the internet)

According to Official Telegram 137/CD-TTg in 2024, in order to fully achieve the goals, targets, and tasks of the socio-economic development plan for 2025 (especially the GDP growth target) and the five-year plan from 2021-2025, laying the foundation for aiming at double-digit economic growth in the period 2026 – 2030, the Prime Minister of Vietnam requests ministers, heads of agencies under the government, chairpersons of People's Committees of provinces and centrally-run cities, and suggests secretaries of Provincial Party Committees, City Party Committees, chairpersons of People's Councils of provinces and centrally-run cities to focus on leadership, directive implementation of several key tasks and solutions. These include promoting and creating breakthroughs for new growth drivers. To be specific:

- The Ministry of Information and Communications of Vietnam shall take the lead, in cooperation with relevant agencies and localities, to accelerate the digital national transformation on a deep, comprehensive, and breakthrough basis, particularly in building an open digital institution, modern digital infrastructure, a widespread digital economy, ensuring cyber security and safety.

- The Ministry of Planning and Investment of Vietnam shall take the lead, in coordination with relevant agencies, to promptly complete the Decree on the experimental mechanism for developing a circular economy, to be submitted to the Government of Vietnam in the first quarter of 2025; enhance investment attraction in new and high-tech sectors, such as semiconductor chips, artificial intelligence, cloud computing, the internet of things, etc.; research and build specific mechanisms, policies, solutions to support and effectively encourage. Vigorously and effectively implement the Program for Human Resource Development in the Semiconductor Industry by 2030, with an orientation to 2050. Intensify the development of marine economy, urban economy, regional economy, and regional linkage.

- The Ministry of Natural Resources and Environment, the Ministry of Planning and Investment of Vietnam, according to their functions and tasks, are urgently in charge of coordinating with relevant agencies to submit to the Prime Minister of Vietnam the issuance of a national green criteria set, propose a list of green economy sectors to be integrated into Vietnam's economic sector system, aiming to encourage and strengthen green transformation.

Requirements for mandatory e-invoicing regulations for all sectors and fields in Vietnam

Also in Official Telegram 137/CD-TTg issued in 2024, the Prime Minister of Vietnam requires the Ministry of Finance, relevant ministries, agencies, and localities according to their functions, tasks, and authority as follows:

- Strengthen financial discipline and the discipline of the state budget; strictly manage state budget revenue and expenditure; ensure accurate, sufficient, and prompt revenue, expand the revenue base, and prevent tax fraud, especially revenue from land levy, e-commerce business, through digital platforms;

Vigorously implement digital transformation, mandatory regulations on e-invoicing for all sectors, fields, and simultaneously must inspect, audit, and supervise implementation; strive for state budget revenue in 2025 to be at least 10% higher than in 2024; thoroughly save on expenditure, especially recurrent expenditure to reserve resources for development investment and social welfare.

- Promptly and effectively implement policies on reducing value-added tax in the first 6 months of 2025 according to the Resolution of the 8th Session of the 15th National Assembly. The Ministry of Finance continues to research and propose the implementation of policies on tax exemption, reduction, extension of taxes, fees, charges, land rent to support people and businesses in development production, and business in 2025.

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