At the regular session of the Government of Vietnam in October 2016 held on October 29, 2016, the Government of Vietnam assessed the socio-economic situation of October and the first ten months of 2016 as having positive developments in most areas. The economy continued its recovery and development momentum, with some industrial sectors achieving higher growth compared to the same period last year. However, alongside these positive developments, there remain numerous difficulties and challenges.
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Given this context, the Government of Vietnam has requested ministries, central authorities, and local authorities to overcome difficulties, maximize potential, and leverage the strengths of each sector, field, and locality, focusing on the following key tasks:
Improving the business environment and enhancing competitiveness
According to Resolution 97/ND-CP, the Government of Vietnam has requested ministries, agencies, and localities to review specific criteria and indices published by the World Bank and the World Economic Forum in the 2016 rankings; analyze and explain the downgraded indices and those still at a low level; and formulate specific plans and solutions to improve rankings in 2017. All work must be reported to the Prime Minister of the Government of Vietnam, and simultaneously sent to the Ministry of Planning and Investment for consolidation and consideration in preparation for the upcoming national conference on improving the business investment environment.
Containing new bad debts, stabilizing exchange rates, and liquidity
The State Bank of Vietnam should proactively and flexibly manage monetary policy, providing all conditions for the public and businesses to access credit at reasonable interest rates. At the same time, it must closely control credit quality; closely monitor the developments of bad debts and have solutions to contain new bad debts, ensuring the stability of exchange rates and liquidity of the banking system during the year-end period.
Encouraging and promoting foreign investment attraction
The Ministry of Planning and Investment will take the lead and cooperate with ministries, agencies, and localities to develop and propose mechanisms and preferential policies, encouraging the attraction of foreign investment from multinational economic groups, and strong potential small and medium enterprises with advanced technology to transfer technology to Vietnamese businesses; study and plan economic clusters, pilot building economic zones linking foreign enterprises and Vietnamese businesses to participate in the global production network and value chain. Completing policies to support and encourage entrepreneurship and business development.
No increase in electricity and medical service prices in the last two months of 2016
Alongside tax and public asset management, to avoid inflation, the Government of Vietnam requests the Ministry of Finance not to increase electricity prices and medical service fees in the remaining two months of 2016, and to strengthen the fight against smuggling and trade fraud at the year-end.
No shortage or price surges during the year-end and Lunar New Year
The Ministry of Industry and Trade should closely monitor the domestic and world market trends; promote trade, seek and expand export markets; shift the export goods structure; increase the proportion of manufacturing export products from domestic raw materials; and intensify the production of goods with high export potential. Actively negotiate with relevant importing countries to remove technical barriers and boost exports to the ASEAN market.
Enhance communication and dissemination of the free trade agreements that Vietnam participates in to enable the public and businesses to promptly grasp the opportunities. Particularly ensure sufficient essential consumer goods, avoid shortages, and price surges during the year-end and Lunar New Year.
Minimum reduction of BOT fees at 19 toll stations in 2016
The Ministry of Transport will expedite the progress of key transportation projects and prepare new projects; research and propose special mechanisms for managing and implementing investment in important traffic intersections in Hanoi and Ho Chi Minh City, reporting to the Prime Minister of the Government of Vietnam. Strengthen traffic safety and prepare plans to ensure transportation during the New Year's Eve and Lunar New Year periods. Lead and cooperate with the Ministry of Finance to direct the continued minimum reduction of BOT fees at 19 toll stations in 2016.
Strictly handle the abuse and profiteering of health insurance
The Ministry of Health should focus on preventing diseases, especially seasonal and highly contagious diseases. Alongside executing the health insurance plan, it must inspect, supervise, and strictly handle the abuse and profiteering of health insurance in healthcare. Attention should also be paid to ensuring food safety and hygiene.
Ending the situation of lingering circulars
The Ministry of Justice should closely monitor and control the proposal for new laws and ordinances, ensuring necessity, effectiveness, and sufficient resources for development and implementation. Enhance the quality and efficiency of legal dissemination and enforcement. Review, monitor, urge, and inspect the issuance of circulars by ministries and ministerial-level agencies, ending the situation of lingering circulars.
