The Government issued the Program for Socio-Economic Recovery and Development.

Since the beginning of 2020, the COVID-19 pandemic has developed complicatedly, having a comprehensive impact on our country's economy, severely affecting many areas of social life and the ability to implement annual and five-year socio-economic development goals, targets and tasks for 2021-2025.

Implementing Conclusion No. 24-KL/TW dated December 30, 2021 of the Politburo, Resolution No. 43/2022/QH15 dated January 11, 2022 of the National Assembly, to contribute to helping the economy overcome difficulties soon, not miss the beat with the global economic recovery process, at the same time create a foundation and favorable conditions for socio-economic development for the whole period of 2021-2025 and the following years, improve efficiency, labor productivity, competitiveness, internal capacity and autonomy in the medium and long term, the Government unanimously directs all levels, sectors and localities to focus on implementing the Program for socio-economic recovery and development (Program).

To achieve the above goals, the Resolution sets out 5 main groups of tasks and solutions.

The first group, opening the economy associated with investment in improving medical capacity and disease prevention and control:

Issue and organize effective and timely implementation of the COVID-19 Prevention and Control Program (2022-2023); continue to guide and implement the roadmap for reopening tourism, air transport, entertainment, cultural and artistic services while ensuring epidemic safety.

Continue to review, adjust, supplement guiding regulations and strengthen the organization, implementation, inspection, supervision, and uniform implementation of regulations on travel and movement of workers, circulation of goods, services, and safe production, maintain continuous and stable operations with appropriate capacity and costs; effectively promote the population database in disease control and policy implementation.

Focus on accelerating the implementation progress and disbursement of investment projects to build new, renovate and upgrade medical examination and treatment facilities where necessary, focus on improving the quality and efficiency of services of the grassroots health system; strengthen the capacity of preventive medicine and regional disease control centers; improve the capacity of disease prevention and control of central-level hospitals and institutes in conjunction with training and improving the quality of human resources in the health sector, domestic production of vaccines and drugs to treat COVID-19, ensuring disease prevention and control requirements.

The second group, ensuring social security and employment support:

Support 3 months of house rent for employees with labor relations, who are renting, staying, working in industrial parks, export processing zones, and key economic zones; in which the support level for employees returning to the labor market is 1 million VND/month and employees working in enterprises is 500,000 VND/month. Implementation period is in the first 6 months of 2022.

Continue to review, research, and have timely support policies for people and workers in difficult circumstances due to the impact of the epidemic.

Effectively implement preferential loan policies through the Bank for Social Policies:

- Loans to support job creation, maintenance and expansion according to the provisions of Decree No. 61/2015/ND-CP dated July 9, 2015, Decree No. 74/2019/ND-CP dated September 23, 2019 and related documents. The total maximum loan capital is 10,000 billion VND.

- Lending to individuals and households to buy, lease-purchase social housing, housing for workers; build new or renovate, repair houses according to the social housing policy as prescribed in Article 16 of Decree No. 100/2015/ND-CP dated October 20, 2015, Clause 10, Article 1 of Decree No. 49/2021/ND-CP dated April 1, 2021 and related documents. The total maximum loan capital is 15,000 billion VND.

- Loans for students to buy computers, online learning equipment and cover learning expenses. Loans to cover learning expenses are implemented according to Decision No. 157/2007/QD-TTg dated September 27, 2007 and related documents. The total maximum loan capital is 3,000 billion VND.

- Lending to implement the National Target Program on socio-economic development of ethnic minority and mountainous areas for the period 2021 - 2030 according to Resolution No. 88/2019/QH14 and Resolution No. 120/2020/QH14 of the National Assembly. The total maximum loan capital is 9,000 billion VND.

- Loans for non-public preschools and primary schools that must suspend operations for at least 01 month according to epidemic prevention and control requirements. The total maximum loan capital is 1,400 billion VND.

- Subsidize interest rates and management fees up to VND 2,000 billion for the Social Policy Bank to implement preferential loans under the Program according to the mechanism of compensating the difference in interest rates and management fees prescribed in the financial management regulations of the Social Policy Bank.

At the same time, interest rate support of 2%/year in 2022-2023 for loans with lending interest rate above 6%/year and disbursed by the Social Policy Bank in the period of 2022-2023. The total capital source for interest rate support is up to 3,000 billion VND.

Continue to recapitalize the Social Policy Bank to lend to employers to pay for work stoppage wages and pay for production recovery wages for employees, ensuring feasibility and quick implementation in practice.

Invest in strengthening the connection between labor supply and demand nationwide on an online platform to serve the work of consulting, introducing jobs and supplying labor; build new, renovate, upgrade, expand and modernize training and vocational training facilities, create jobs, especially high-quality and key colleges and carry out digital transformation in the field of vocational education; improve the capacity of the frontline of the social assistance system, care for people with psychological trauma, the homeless and vulnerable groups affected by the COVID-19 pandemic.

Provide tablets under the "Wave and Computer for Children" Program from the Vietnam Public Telecommunications Service Fund, ensuring publicity, transparency, proper targeting and effective use. The total maximum budget is 1,000 billion VND.

Third group, supporting the recovery of enterprises, cooperatives, and business households

Exemption and reduction of taxes, fees and charges:

- In 2022, groups of goods and services currently subject to a 10% VAT rate will have their tax rate reduced by 2% (to 8%) for businesses calculating VAT by the deduction method and a 20% reduction in the percentage when issuing invoices for businesses, households and individuals calculating VAT by the percentage method on revenue, except for the following groups of goods and services: telecommunications, information technology, financial activities, banking, securities, insurance, real estate business, metals, prefabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products, goods and services subject to special consumption tax.

- Reduce 50% of environmental protection tax on aviation fuel according to Resolution No. 13/2021/UBTVQH15 dated December 31, 2021 of the National Assembly Standing Committee.

- Include in deductible expenses when determining taxable income for corporate income tax on support and sponsorship expenses of enterprises and organizations for COVID-19 prevention and control activities in Vietnam for the 2022 tax period.

- 30% reduction in land and water surface rents in 2022 for organizations, units, enterprises, households and individuals who are directly leasing land from the State according to Decisions or Contracts or certificates of land use rights, house ownership rights and other assets attached to land of competent state agencies in the form of annual land lease payments that must stop production and business due to the impact of the COVID-19 pandemic.

- Apply export tax rates and import tax rates according to Decree No. 101/2021/ND-CP dated November 15, 2021 and related documents.

- 50% reduction in registration fees when registering domestically manufactured or assembled cars according to Decree No. 103/2021/ND-CP dated November 26, 2021.

- Continue to review and reduce fees and charges to support and remove difficulties for those affected by the COVID-19 epidemic.

Extension of deadline for payment of corporate income tax, personal income tax, value added tax, special consumption tax and land rent in 2022.

Interest rate support of 2%/year in 2022 - 2023 through the system of commercial banks for commercial loans for enterprises, cooperatives, and business households with the ability to repay debts and the ability to recover in the following industries and fields: aviation, transportation and warehousing; tourism, accommodation, catering services, education and training; agriculture, forestry and fisheries; processing and manufacturing industry (including machinery, equipment, drugs, pharmaceuticals, medicinal materials); software publishing; computer programming and related activities; information service activities; loans for renovating old apartments, building social housing, houses for workers to buy, rent and hire-purchase. Support conditions: Belong to the beneficiary, have received loans or meet loan conditions, approved by commercial banks.

Study to stabilize the maximum ratio of short-term capital for medium- and long-term loans, reasonably calculate the required reserve ratio, carry out open market operations, refinance, and direct credit institutions to continue to reduce operating costs to strive to reduce lending interest rates by about 0.5% - 1% in 2022 and 2023, especially for priority sectors.

Continue to restructure debt repayment terms, waive and reduce interest rates and maintain debt groups for customers affected by the COVID-19 pandemic, closely monitor economic developments and the currency market to have appropriate solutions to support businesses and people, while ensuring the safe operation of the credit institution system.

Increase charter capital from after-tax profits, after setting aside funds for the 2021-2023 period for joint-stock commercial banks in which the State holds more than 50% of charter capital and from the state budget for the Bank for Agriculture and Rural Development.

Review and amend regulations to remove obstacles in regulations on expenditure and management of the Science and Technology Development Fund of enterprises; facilitate enterprises to innovate technology, incubate technology, incubate science and technology enterprises, commercialize scientific research results and technology development; decode technology; purchase equipment, machinery, and raw materials for technological innovation, directly serving the production and business activities of enterprises.

Continue to research and consider reducing electricity and water bills for businesses and people.

Fourth group, investment in infrastructure development:

Focus capital on important and urgent projects with large spillover effects, with the ability to disburse quickly and be absorbed immediately into the economy, in accordance with planning, using capital sources effectively, ensuring the ability to balance capital to complete projects in the 2022 - 2025 period; prioritize support for site clearance for a number of new projects of important significance to socio-economic development.

Strive to soon complete the entire North-South expressway in the East, routes connecting the Northern mountainous region, the Central Highlands with the Central region, expressways in the Southeast region, the Mekong Delta region; transport infrastructure connecting regions, seaports, border gates, industrial zones and clusters; digital infrastructure, digital transformation; medical and social infrastructure; labor - employment; prevention and control of riverbank and coastal landslides, ensuring the safety of water reservoirs, adapting to climate change, and overcoming the consequences of natural disasters.

The selection and allocation of capital for projects under the Program to ensure capital disbursement of the Program in 2022 and 2023 must comply with the principles and criteria specified in Section d, Section 1.2, Clause 1, Article 3 of Resolution No. 43/2022/QH15 of the National Assembly.

Apply specific mechanisms in Article 5 of Resolution No. 43/2022/QH15 to accelerate the implementation and disbursement of investment projects under the Program.

Effectively use resources of the Vietnam Public Telecommunication Service Fund to invest in developing telecommunications and internet infrastructure.

The fifth group, institutional reform, administrative reform, improving the investment and business environment:

Urgently develop and submit for promulgation on schedule, ensuring the quality of documents detailing and guiding the implementation of Laws and Resolutions at the 2nd Session and the 1st Extraordinary Session of the 15th National Assembly.

Continue to review and remove barriers in institutions, mechanisms, policies and legal regulations that hinder production and business activities; accelerate the roadmap for cutting and simplifying administrative procedures, improving the investment and business environment; strengthen the handling of administrative procedures on online platforms; continue to research and deploy breakthrough solutions, encourage innovation, promote digital transformation, develop digital economy, green economy, circular economy associated with sustainable development; urgently research and remove difficulties and obstacles in mechanisms, policies, laws, planning and land funds related to social housing and housing for workers.

Focus on improving state management capacity, social governance, qualifications and capacity of cadres at all levels, sectors and localities; strengthen supervision, inspection and strict handling of violations.

Synchronously and flexibly operate monetary policy tools, closely coordinate with fiscal policy and other macroeconomic policies to actively support the process of socio-economic recovery and development, but not be subjective with inflation risks, maintain macroeconomic stability and safety of the credit institution system.

Closely monitor macro indicators to have timely solutions to ensure macroeconomic stability, major balances, with special attention to inflation and bad debt targets; strive to increase revenue, save expenditure, reduce deficit to achieve targets in the National Financial Plan and borrow and repay public debt for the 5-year period 2021 - 2025; in case of fluctuations and major risks, promptly report to competent authorities for consideration and decision. Balance monetary solutions to support the Program with the overall restructuring plan of specially controlled banks.