The Government continues to implement solutions to exempt and reduce taxes and fees.

Continue to implement solutions to exempt and reduce taxes and fees to support businesses

Firstly, regarding the implementation of solutions to support difficulties in production and business activities of enterprises, the Deputy Prime Minister said: The Government continues to exempt and reduce taxes, fees, charges, and land use fees to remove difficulties for production and business activities; increase access to credit for people and enterprises.

Implementing this solution, the total support scale in the period of 2020 - 2023 is about 700 trillion VND. Of which, in 2020 it is about 129 trillion VND, in 2021 it is about 145 trillion VND, in 2022 it is about 233 trillion VND and in 2023 it is about 196 trillion VND.

In the first 6 months of 2024, the Government submitted and the National Assembly approved the policy of continuing to reduce taxes.

In the last 6 months of 2024, the Government is submitting to the National Assembly for consideration and permission to continue implementing the policy of reducing VAT rates by 2%. If approved, the scale of reduction will be approximately24 trillion dong,…

In case of fully implementing policies on tax exemption and reduction, in 2024, the total scale of solutions on taxes, fees, charges and land use fees will be about 190 trillion VND, of which extension is 92 trillion VND, exemption and reduction is 98 trillion VND.

Flexibly and resolutely use effectively the resources allowed by the National Assembly.

Regarding the implementation of the 40 billion VND package to support 2% interest rate for people, businesses, and cooperatives to access credit. The Deputy Prime Minister stated: This package was not successfully implemented. The Government has fully reported in the report sent to the National Assembly.

The Deputy Prime Minister said that during the implementation process, realizing that the effectiveness of the 2% interest rate support package was not high, in 2023 the Government submitted to the National Assembly permission to use it to exempt, reduce, and extend the payment period of taxes, fees, charges, land rents, etc., thereby the total support scale reached nearly 200,000 billion VND.

This affirms that the Government has been very flexible, determined, and effectively used the resources allowed by the National Assembly to support people and businesses, the Deputy Prime Minister stated.

Notably, during the implementation of the socio-economic recovery and development program, there was a package of VND46,000 billion (equivalent to about USD2 billion) for COVID-19 prevention and control (including the source for purchasing vaccines, medicines and medical equipment). However, with the very effective implementation of the vaccine campaign, "we did not spend this money", the Deputy Prime Minister emphasized.

Public investment disbursement achieved positive results, highest in 4 years

Second, for packages related to public investment of the socio-economic recovery and development program, the Government will continue to implement solutions to promote disbursement to achieve the highest possible efficiency.

The Deputy Prime Minister stated: In the disbursement of public investment capital, up to now, although there are still some difficulties, the overall results achieved can be assessed as positive.

The effective implementation of this package has contributed to increasing GDP in 2023 to 5.05%. In the first quarter of 2024, GDP increased by 5.66%. Today (May 29), the General Statistics Office also announced the socio-economic report for the first 5 months of 2024. The results showed more positive signs, with many indicators improving significantly.

Regarding the issue of "renewing" traditional growth drivers and effectively exploiting new growth drivers, the Deputy Prime Minister stated: In difficult conditions, we have achieved a relatively high growth rate compared to the region. However, compared to the set target, we still have to continue to strive.

Regarding traditional drivers (public investment, export, consumption promotion, etc.), Deputy Prime Minister Le Minh Khai said: According to the data just released in the first 5 months of 2024, investment disbursement reached 22.34% of the assigned plan. This is the highest level of public investment disbursement in the past 4 years.

The Deputy Prime Minister emphasized: With the drastic directions of the Government, especially the Prime Minister, and the synchronous and effective participation of ministries, branches and localities, the results achieved in disbursing public investment capital are very encouraging.

At the same time, with this motivation, the Government continues to review, research, and remove difficulties in mechanisms and administrative procedures to more effectively implement the disbursement of public investment capital associated with activating private investment resources in the form of public-private partnerships.

The Deputy Prime Minister said that there have been very positive signals in this regard. Specifically, for key projects, especially transport infrastructure and highways, we have accelerated progress and achieved very positive results.

Currently, the country has 2,000 km of expressways. By 2025, we strive to put into operation about 3,000 km of expressways according to the Resolution of the 13th Congress.

In addition, the Government also continues to synchronously and comprehensively implement solutions to expand trade, increase exports, negotiate and sign new FTA agreements; implement campaigns to stimulate domestic market demand, etc., in conjunction with effectively implementing solutions to promote green growth, digital growth, digital economy, circular economy, etc.

Synchronously deploy short-term and long-term solutions to manage the gold market

Regarding the management of the gold market (the Governor of the State Bank has reported and explained), the gold price in the world market has also tended to increase recently and the domestic market has also fluctuated accordingly. However, the difference between the domestic SJC gold bar price and the world gold price has increased.

The Deputy Prime Minister said that since June 2022, the Government and the Prime Minister have closely directed the State Bank in this work. Up to now, the Government and Government leaders have issued 25 directives. These include the deployment of intervention tools for stabilization, as well as inspection, examination and control of the gold market.

Recently, the State Bank has also actively implemented a number of intervention solutions, but the effectiveness has not been high. Currently, the State Bank is re-evaluating and will implement new plans to stabilize the gold market in the short term.

In the long term, we will study and amend Decree 24/2012 on the management of gold trading activities.

In the immediate future, we will use state management tools such as inspection and examination to substantially assess the operation of the gold market, on that basis, there will be solutions to handle according to regulations to stabilize the gold market, bringing the price of gold bars closer to the price of gold on the world market.