Prime Minister directs implementation of measures to support businesses in overcoming difficulties and promoting production and business activities by end of 2024

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Accordingly, the Prime Minister requests Ministers, Heads of Ministries, Government agencies, and Chairmen of People's Committees of localities to continue to make efforts and resolutely implement solutions and tasks within their authority to support businesses in removing difficulties and obstacles, and promoting production and business activities in the coming months and years.

In the process of building and promulgating policies, it is necessary to create a favorable environment to help businesses develop; encourage mechanisms for large enterprises to support and promote small and medium enterprises to create domestic value chains and develop domestic supporting industries; support policies need to be practical and effective for businesses to compete fairly and effectively between regions; study support to reduce costs for businesses to improve competitiveness; promote decentralization and delegation of authority in conjunction with enhancing the implementation responsibility of agencies and units; cut unnecessary and inappropriate administrative procedures and licenses, increasing compliance costs; promote the public-private partnership mechanism, research a number of breakthrough initiatives to transform the economy into a green economy.

The Prime Minister requested the Ministry of Finance to study and develop appropriate tax policies to support sustainable development of enterprises, including small and medium enterprises; continue to effectively implement tax reduction and tax payment extension policies that have been issued; speed up the process of value-added tax refunds for enterprises in accordance with legal regulations.

The Ministry of Planning and Investment studies and perfects institutions, mechanisms and policies for rapid, comprehensive and sustainable business development, especially mechanisms to encourage innovation, promote the endogenous strength of businesses, contribute to the economy, create jobs and livelihoods for the people.

The Ministry of Information and Communications urgently studies and completes the draft Resolution of the Government on digital transformation. At the same time, it will preside over and coordinate with the Ministry of Science and Technology to build an institution to manage artificial intelligence (AI) in Vietnam, initially focusing on ethical codes, governance frameworks, risk management, product appraisal and evaluation frameworks, and a system of standards and regulations on AI.

The Ministry of Industry and Trade increases support for trade promotion to diversify production, diversify supply chain markets, etc., to encourage businesses to export products to foreign markets; research and organize fairs and consumer festivals to stimulate consumption and other forms to increase purchasing power in the domestic market.

The Ministry of Natural Resources and Environment researches and develops mechanisms and policies on resource circulation to promote green transformation, circular economy, resource saving, environmental protection, and carbon reduction.

The Prime Minister assigns the State Bank of Vietnam to direct credit institutions to continue to reduce costs, increase the application of information technology to reduce lending interest rates, promote credit growth, focus on production and business sectors, priority sectors, and growth drivers of the economy; urgently preside over and coordinate with relevant agencies to remove difficulties and obstacles, effectively implement the VND 140 trillion credit package for social housing loans, preferential credit programs for forestry and fisheries sectors, etc.

The Prime Minister also requests that localities need to be proactive and active within their authority, meeting, exchanging, listening to comments and recommendations from businesses to promptly develop goals, tasks, development solutions, support and help local businesses, especially small and medium enterprises, businesses facing difficulties due to storms and floods, in terms of finance, legality, land procedures, site clearance, etc.