The 350,000 billion VND economic support package is expected to be issued before Tet.
The draft Resolution on the 350,000 billion VND economic recovery support package was consulted with Government members on January 28 and is expected to be issued before Lunar New Year.
This information was stated by Mr. Tran Duy Dong, Deputy Minister of Planning and Investment, at the regular Government press conference in January on the afternoon of January 28.
According to Mr. Dong, the draft Resolution submitted to the Government today includes two contents: Economic recovery program and implementation of the National Assembly's resolution on fiscal and monetary policy.support economic recovery.
"We are collecting opinions from Government members, trying to complete the draft Resolution so that it can be issued before Lunar New Year," said Mr. Dong.
The Deputy Minister of Planning and Investment also reiterated five economic recovery solutions. First of all, opening the economy in conjunction with investment, improving medical capacity, and preventing epidemics.
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| Illustration photo. |
Solutions to ensure social security and employment for workers in industrial parks and key areas with support for renting and buying social housing... are also emphasized in this draft Resolution.
Solutions to support business recovery, including land rent exemption and reduction, interest rate support loans in a number of industries and fields...
The resolution also sets out a series of solutions oninfrastructure development investmentsuch as investing resources to complete 12 North-South expressways in the East under the form of public investment.
According to Mr. Dong, institutional reform, administrative reform, and improving the business environment are the next important issues to "attract foreign investors back when opening the economy."
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| Many industries will benefit from the economic recovery support package. |
Due to the urgent nature of the solution package that will be disbursed within two years, the Deputy Minister of Planning and Investment emphasized that ministries and branches need to take action to carry out tasks in the first quarter of this year to promptly disburse the recovery support package.
According to Mr. Dong, currently some ministries and branches have taken the initiative in this matter, such as the Ministry of Finance has advised the Government to issue a resolution on reducing VAT by 2%, from 10% to 8% for goods and services except for banking and insurance sectors...
"Half of the draft Resolution's capacity is to state very specific tasks of ministries and branches. But this implementation requires smooth coordination from units," he said.
In addition, the draft Resolution also provides a monitoring mechanism to avoid policy exploitation during the implementation of this recovery support package.
The results of the support package implementation will beMinistry of Planning and InvestmentSynthesize and report to the National Assembly at the end of the 2022-2023 session and the end of the 2024 session.
Previously, on January 11, the National Assembly passed a Resolution on fiscal and monetary policies to support the socio-economic recovery and development program.
