Moreover, the telegram also aims at controlling inflation, promoting growth, and enhancing living standards amidst global economic challenges.
The telegram underscored that despite ambitious targets, Vietnam must achieve its goals while proactively preventing overheating, energy shortages, and labor market imbalances.
The Prime Minister’s directive places the Ministry of Finance at the forefront of key initiatives. The ministry is tasked with continuing tax and fee exemptions and deferrals to stimulate business activities. A core responsibility is to coordinate with the State Bank of Vietnam and other relevant ministries to engage actively with international credit rating agencies and foreign investors. This coordinated effort aims to address regulatory hurdles and ensure Vietnam's full compliance with the criteria for upgrading its stock market at the earliest possible time.
Furthermore, the Government will mobilize additional financial resources for economic development, including the issuance of government bonds to fund critical projects and priority sectors such as science, technology, and innovation. A firm commitment was also made to achieve 100 percent disbursement of the 2025 public investment capital plan.
The State Bank of Vietnam has been directed to stabilize the domestic gold market by narrowing the gap between international and local prices. The bank is also ordered to intensify inspections and strictly enforce regulations against speculation, hoarding, price manipulation, and smuggling.
To support economic growth, credit institutions are instructed to continue reducing costs to facilitate lower lending interest rates. The Vietnamese Prime Minister also called for the decisive and effective implementation of preferential credit programs, with a specific focus on social housing, export-oriented agriculture, and loans for young home buyers and students.
The Ministry of Construction is mandated to address the supply-demand imbalance in the real estate market. The ministry must increase and diversify the supply of housing and aims to complete and bring to market 100,000 social housing units in 2025.
Finally, ministries and local authorities are directed to act decisively to resolve implementation bottlenecks within the two-tier local government system.
