To concentrate resources to carry out wage reform in Vietnam

To concentrate resources to carry out wage reform in Vietnam
Duong Chau Thanh

Resolution 101/2023/QH15 on the 5th session, the 15th National Assembly of Vietnam approved on June 24, 2023, which mentioned the content of concentrating resources to carry out wage reform.

To concentrate resources to carry out wage reform in Vietnam

The National Assembly requested the Government to coordinate with relevant agencies to continue implementing synchronously, promptly, and comprehensively the objectives, tasks, and solutions set out by the Party, the National Assembly and the Government; at the same time, closely monitor developments and forecast the situation in the country and the world; have quick and appropriate policy solutions, practical, specific, and feasible management solutions; and organize drastic implementation, focusing on the following issues:

- Ensure stability, strengthening the macroeconomic foundation, controlling inflation, and enhancing the adaptability and resilience of the economy to negative external impacts;

- Administer fiscal policy with focus and focus; study the plan to increase the reduction of family circumstances deduction for personal income tax; flexibility in adjusting environmental protection tax for petroleum products; and propose appropriate policy solutions for the global minimum tax mechanism, the carbon tax.

Timely settle VAT refund dossiers in accordance with law.

Concentrate resources to implement wage reform, report to the National Assembly on the salary policy reform roadmap at the 6th Session, the XV National Assembly;

- Operate monetary policy proactively, flexibly, and effectively, closely coordinating with fiscal and other macro policies to contribute to controlling inflation, stabilizing the macro foundation, and supporting a reasonable economic recovery.

Operate interest rates in line with monetary policy objectives. Implement synchronous solutions to remove difficulties, strengthen management and supervision of securities, insurance, corporate bond, and real estate markets; urgently handle inadequacies in corporate bond investment consulting, brokerage, and cross-selling of life insurance; conduct a comprehensive inspection of the life insurance market, focusing on investment-linked insurance; strictly control the granting of credit using capital; and protect the interests of investors in accordance with the law.

Research and develop criteria and methods for determining credit growth limits for credit institutions in the spirit of Resolution 62/2022/QH15 of the National Assembly;

More details can be found in Resolution 101/2023/QH15 dated June 24, 2023.

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