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The reservoir in Son La Power Plant No.1 is facing its dead water level at the beginning of this June, lower than its normal water level of 40.07m |
Accordingly, the Government Standing Committee asked that all ministries and chairmen of the People’s Committees of provinces and municipalities thoroughly understand the priority of boosting the national growth, stabilizing the macro-economy, controlling inflation, and ensuring major balances in the national economy as well as social security. The role and authority of each ministry, state unit, and local authority must be effectively performed in order to timely and efficiently complete assigned missions as well as addressing urgent issues.
The Government Standing Committee also requested a review of existing mechanisms and policies to develop suitable solutions for growth promotion on both suppliers and consumers. Particularly, there must be effective measures to stimulate the domestic market, to improve made-in-Vietnam product quality and competitiveness.
The Government’s Decree on the 50-percent reduction of registration fee for automobiles manufactured or assembled domestically must be urgently released, while the implementation of a 2-percent decrease in value added tax must be timely done right after it is approved by the National Assemble.
The Government Standing Committee required the State Bank of Vietnam to orient a drop in deposit and loan interest rates of credit organizations in order to better support businesses and individuals to resume their manufacturing and commercial activities for more economic growth. Such a low credit growth as the situation in the past five months must be addressed immediately.
It is critical to identify the necessary and reasonable credit growth limit in 2023, and this credit limit must be completely allocated and publicly announced this June so that credit organizations can actively expand their credits until the end of 2023.
The credit packages of VND40 trillion (US$1.7 billion) and VND120 trillion ($5.1 billion) must be reviewed to apply more flexible, feasible, reasonable loan conditions. The credit package of VND10 trillion ($425 million) should be urgently proposed to support businesses in the fields of forestry-aquatic product processing, while other similar packages should be considered for enterprises in other necessary fields.
Finally, the Finance Ministry must quickly implement VAT refunds for businesses via precise and concise procedures.
More importantly, the Ministry of Industry and Trade, the Committee for the Management of State Capital in Businesses must focus on directing Vietnam Oil & Gas Group and Vietnam Electricity to completely address nationwide power shortage this June.
