The Government has issued the Resolution No. 77/NQ-CP following its regular March meeting and an online conference with local authorities. The resolution underscores a strategic priority such as driving robust economic growth while maintaining macroeconomic stability, controlling inflation, and safeguarding the economy’s key balances. It emphasizes the importance of proactive, flexible, and timely policy responses to emerging challenges, reaffirming the Government’s commitment to achieving a GDP growth target of 8 percent or higher in 2025.
The Ministry of Finance was tasked to coordinate with relevant agencies and localities in reviewing and accurately assessing the implications of the United States' reciprocal tax policy on Vietnam to support affected businesses and workers. Additionally, the Ministry must promptly submit to competent authorities a draft National Assembly resolution on the reduction of value-added tax (VAT), applicable from July 1, 2025, to December 31, 2026, as well as a decree specifying the implementation of the global minimum corporate tax in line with international anti-base erosion regulations.
The Ministry is also directed to urgently finalize the resolution on mechanisms and policies to accelerate the development of the private economic sector, and to complete the draft resolution concerning the establishment of international and regional financial centers in Vietnam. These documents are to be submitted to appropriate authorities and the National Assembly for consideration during its 9th session.
The Government has tasked the State Bank of Vietnam (SBV) with the primary responsibility for managing exchange rates in alignment with prevailing market conditions. The SBV is prepared to intervene as necessary to stabilize the foreign exchange market.
Furthermore, the Government is directing credit institutions to implement more decisive and effective measures to actively reduce lending interest rates, thereby facilitating access to financing for individuals and businesses. Emphasis is placed on promoting short-term lending to support enterprises impacted by the US tariff policy.
In addition, the Government is undertaking a study to develop a preferential credit package for individuals under 35 years of age for home purchases, alongside a substantial preferential credit package of approximately VND500 trillion (US$19.44 billion) for businesses investing in infrastructure and digital technology, offering long-term financing options.
