The Prime Minister issued a Directive on key tasks and solutions to promote growth and ensure major balances of the economy in the new situation.

Since the beginning of 2022, the world situation has changed rapidly and complicatedly, with many unprecedented developments, greatly affecting and influencing many countries, regions and socio-economic development in our country. Thanks to the drastic participation of the entire political system under the leadership of the Party; the accompaniment of the National Assembly; the drastic, flexible, creative, effective, timely, focused and key direction and management of the Government and the Prime Minister; the efforts of all levels, sectors and localities; the joint efforts and consensus of the people and the business community; and the effective support of international friends, the socio-economic situation in the first 8 months of 2022 has recovered positively and achieved many important results in almost all fields.

The macro economy has been maintained stable, inflation has been controlled at a low level, and major balances of the economy have been ensured. The average consumer price index (CPI) for the first 8 months increased by 2.58%. The monetary market has been basically stable, interest rates and exchange rates have been maintained reasonably; public debt has been well controlled. Economic growth has recovered rapidly; many key sectors and fields of the economy have developed strongly, especially industry and services; agriculture has developed stably. Attracting investment capital and developing enterprises have achieved positive results. COVID-19 prevention and control, vaccination, and patient treatment have been focused on. Attention has been paid to cultural and social fields; the whole country has organized many solemn, meaningful, safe, and practical events. Social security has been ensured; people's lives have continued to improve. National defense and security have been strengthened; social order and safety have been ensured. Foreign affairs and international integration activities have been promoted. Information and communication work is focused on, contributing to strengthening trust and creating high consensus in society. Regular tasks are well resolved; at the same time, arising issues are promptly handled and long-standing issues are focused on resolving. Many prestigious international organizations continue to positively assess Vietnam's economic situation. Moody's upgraded Vietnam's credit rating from Ba3 to Ba2 with a "stable" outlook; S&P upgraded the rating to BB+ with a "stable" outlook; Fitch rated BB with a "positive" outlook. Nikkei Asia upgraded Vietnam's COVID-19 recovery index to second in the world. International financial and monetary organizations and many experts raised their forecasts for Vietnam's economic growth.

In the coming time, the international situation is forecast to continue to develop in a complicated and unpredictable manner, especially strategic competition between major countries, the conflict in Ukraine is still complicated; high inflation and the trend of increasing interest rates, narrowing monetary and fiscal policies in many countries; prices of crude oil, gas, and some basic commodities fluctuate strongly; world economic growth declines, the international market is narrowed, posing the risk of economic recession and many potential risks to financial stability, currency, public debt, energy security, food and regional and global geopolitical tensions. Meanwhile, epidemics, natural disasters, floods, droughts, and climate change are developing more complicatedly and extremely, greatly affecting many countries and regions around the world. Domestically, the economy has opportunities, advantages and difficulties, challenges intertwined, but there are more difficulties and challenges, especially inflationary pressure, exchange rates, and increased production and business costs; Demand in traditional export markets is shrinking; climate change, natural disasters, and epidemics continue to develop unpredictably, greatly affecting production and people's lives.

In that context, maintaining macroeconomic stability, controlling inflation, promoting growth and ensuring major balances of the economy are both urgent and strategic requirements and are also key and consistent priorities in the coming time to contribute to the successful implementation of the goals and tasks set out in the Resolution of the 13th National Congress of the Party, the 5-year and annual socio-economic development plans. In the last months of 2022 and the coming time, the Prime Minister requests Ministers, Heads of ministerial-level agencies, Government agencies, Chairmen of People's Committees of provinces and centrally run cities to continue to resolutely, synchronously and effectively implement the tasks and solutions set out in the resolutions of the Party, the National Assembly, the Government, and the direction of the Prime Minister; According to the assigned functions, tasks, and fields of state management, focus on thoroughly grasping and strictly implementing the following key viewpoints, orientations, tasks, and solutions:

I. VIEWPOINTS AND MANAGEMENT ORIENTATION

1. Thoroughly grasp and closely follow the Party's guidelines and policies and the State's laws, proactively, flexibly, creatively, promptly and effectively direct and manage the macro economy, ensuring it is suitable to the situation and practical requirements in the direction of: (1) Ensuring stability in uncertain conditions; (2) Maintaining a proactive stance in the face of complex and unpredictable developments; (3) Being steadfast, consistent, appropriate and effective in the face of fluctuations and multi-dimensional impacts from the world and domestically; (4) Controlling risks, promptly responding to the risk of recession and crisis; (5) Creating a frontline of international economic cooperation and competition in the context of deep integration.

2. Implement a prudent and firm monetary policy, ensuring proactiveness, flexibility, and efficiency, in close, synchronous, and harmonious coordination with a reasonable, focused, and effective expansionary fiscal policy and other policies to contribute to stabilizing the macro-economy, controlling inflation, promoting growth, and ensuring major balances of the economy. Strive to achieve a high economic growth rate and control inflation according to the set targets.

3. Ensure security and safety in currency, credit, finance, public debt, food, energy, and information; strongly promote growth drivers on both the supply and demand sides (consumption, investment, export); strengthen management and control of prices of essential goods and services for production, business, and life, especially gasoline and oil; continue to review and improve institutions, laws, mechanisms, and policies; do a good job of planning; strengthen technological innovation, digital transformation, green energy transformation, diversify supply chains, international markets, develop e-commerce, encourage innovation, start-ups, improve productivity, quality, and overall efficiency of the economy.

4. Make the greatest efforts and determination to act flexibly and effectively to adapt to new contexts and situations, overcome difficulties, overcome challenges, seize opportunities, and take advantage of the opportunity to promote socio-economic development. Focus on performing regular tasks well; effectively handling long-standing issues; promptly responding to urgent issues that arise, while focusing on implementing fundamental, medium- and long-term tasks and solutions.

5. Closely monitor the situation, strengthen the capacity to analyze, forecast, and respond quickly and promptly to policies, avoiding being passive or surprised in any situation. Be proactive, flexible, and effective in building and implementing mechanisms and policies. Strengthen administrative discipline and order, promote decentralization and delegation of power, and promote the responsibility of leaders. Uphold the spirit of self-reliance and self-strengthening, promote the strength of national solidarity, mobilize the participation of the political system, the support of the business community, the people, and the help of international friends. Unblock, mobilize, and effectively use all resources for national development.

6. Strictly implement regulations on COVID-19 prevention and control, be ready to respond to new epidemics; focus on ensuring social security, constantly improving people's material and spiritual life; promote administrative reform, strengthen the fight against corruption and negativity; strengthen national defense and security, firmly protect independence and sovereignty, maintain political stability, ensure social order and safety; promote foreign affairs; build an independent and self-reliant economy associated with proactive and active international integration, deeply, substantially and effectively, enhance the competitiveness and resilience of the economy to external fluctuations; thereby contributing to consolidating the foundation, creating favorable conditions for macroeconomic stability and sustainable development.

II. KEY TASKS AND SOLUTIONS

1. The Ministry of Planning and Investment shall preside over and coordinate with relevant agencies to:

a) Analyze, evaluate, and forecast the world and domestic situation, and policy adjustments of other countries that affect our country's socio-economic situation; promptly advise the Government and Prime Minister on appropriate solutions and policies to maintain macroeconomic stability, control inflation, promote growth, and ensure major balances of the economy.

b) Urgently complete and submit to the Government the Project on stabilizing the macro economy, controlling inflation, promoting growth, ensuring major balances of the economy, promoting rapid recovery and sustainable development.

c) Monitor and urge ministries, agencies and localities to effectively and drastically implement Resolution No. 124/NQ-CP dated September 15, 2022 of the Government on key tasks and solutions to promote disbursement of public investment capital in the last months of 2022. Urge to promote the implementation of the Socio-Economic Recovery and Development Program.

d) Urgently review, adjust, supplement, and propose the allocation of public investment capital to competent authorities, ensuring concentration, focus, and key points, without dispersion, spreading, fragmentation, or division.

d) Urge and guide relevant ministries, agencies and localities to promptly develop, appraise and complete plans according to the provisions of the Law on Planning.

2. The Ministry of Finance shall preside over and coordinate with relevant agencies:

a) Implement a reasonable, focused, and efficient expansionary fiscal policy, closely and smoothly coordinate with monetary policy; have solutions to mobilize sufficient resources to implement the Socio-Economic Development Plan. Strengthen financial and budgetary discipline; promote revenue increase, expand revenue base, strengthen anti-revenue loss prevention; thoroughly save regular expenditure, especially investment expenditure and expenditure that is not really necessary.

b) Ensure national financial security and safety; strictly manage public debt and government debt, ensuring they are within prescribed limits and debt repayment capacity.

c) Closely monitor market price developments, promptly research and propose to competent authorities solutions for price management, tax and fee policies and other policies, contributing to price stability, reducing costs for businesses, supporting people when necessary and promoting production and business development. Focus on preventing smuggling and trade fraud.

d) Strengthen inspection and supervision of the stock and corporate bond markets, promptly and strictly handle violations so that the market develops stably, healthily, safely and effectively. Organize the synchronous and effective implementation of Decree No. 65/2022/ND-CP dated September 16, 2022 amending and supplementing Decree No. 153/2020/ND-CP on offering and trading of individual corporate bonds in the domestic market and offering corporate bonds to the international market.

3. The State Bank of Vietnam presides over and coordinates with relevant agencies:

a) Conduct monetary policy cautiously, firmly, ensuring proactiveness, flexibility and efficiency, especially in terms of exchange rates, interest rates, and credit, closely, smoothly and effectively coordinating with fiscal policy to both control inflation and support economic recovery and growth. Strengthen communication on viewpoints and directions for monetary policy management, contributing to avoiding expected inflation.

b) Ensure monetary security and safety of the credit and banking system. Urgently and effectively implement the Politburo's conclusion on the plan to deal with weak commercial banks and the Project to restructure credit institutions associated with bad debt settlement in the 2021-2025 period.

c) Direct and guide credit institutions to continue to reduce operating costs to strive to reduce lending interest rates, share difficulties with people and businesses; direct credit to priority industries and sectors, strictly control credit in potentially risky sectors. Urgently guide, remove obstacles, and accelerate the effective implementation of the policy to support 2% lending interest rates according to Decree 31/2022/ND-CP dated May 20, 2022 of the Government.

4. The Ministry of Industry and Trade presides over and coordinates with relevant agencies:

a) Closely monitor the supply and demand developments and market situation of essential goods, especially gasoline and oil; strictly inspect and handle acts of speculation, hoarding, and price hikes in accordance with the law; have solutions to prevent supply disruptions, meet domestic production and consumption needs, especially before and after Tet. Focus on information and communication work on gasoline and oil price management to create consensus in society. Proactively work with the Ministry of Finance and relevant agencies to effectively use the Petroleum Price Stabilization Fund, ensure tight control of gasoline and oil prices, minimize impacts and influences on production, business and people's lives.

b) Ensure energy security, promote green energy transition, and reduce emissions. Focus on removing difficulties and speeding up the progress of power source and grid projects according to the law; closely calculate the balance of power supply and demand to proactively plan appropriate electricity production and import; proactively find alternative power sources in case of water shortage for hydropower. Regularly urge, inspect, and implement state management to soon put into operation key projects in the fields of oil and gas, processing and manufacturing industries.

c) Synchronously and effectively implement solutions to unblock and strongly promote the development of the domestic market associated with strengthening market management; develop the retail distribution system, focus on promoting and controlling e-commerce; strengthen the prevention of trade fraud, counterfeit goods, and poor quality goods, protect domestic production and consumption in accordance with international commitments.

d) Boost exports, especially official exports associated with restructuring of product lines and building Vietnamese product brands. Promote more strongly and effectively the role of trade offices and Vietnamese trade promotion representatives abroad to expand and diversify markets and export products; strengthen appropriate import management, strive to ensure a harmonious and sustainable trade balance.

5. The Ministry of Agriculture and Rural Development shall preside over and coordinate with relevant agencies to:

a) Ensure national food security and food supply. Focus on promoting agricultural production, consumption and export of agricultural products; have appropriate solutions to support farmers when necessary.

b) Strengthen close monitoring of market developments, have solutions to ensure supply and quality of animal feed and pork; develop poultry and livestock herds.

c) Proactively monitor, advise, and direct measures to prevent, respond to, and overcome the consequences of natural disasters during the rainy and stormy season; closely monitor drought situations and have plans to store water for agricultural production, especially in the Mekong Delta and South Central Coast regions.

6. The Ministry of Construction shall preside over and coordinate with relevant agencies:

a) Urgently research, review, and propose to improve legal regulations, mechanisms, and policies in the real estate sector, ensuring consistency and removing difficulties and obstacles so that the real estate market can develop stably, healthily, effectively, and sustainably. Focus on promoting the development of social housing and housing for workers.

b) Urgently complete and submit to the National Assembly the Housing Law (amended) and the Real Estate Business Law (amended) to create a legal framework for real estate business activities and enhance the effectiveness of real estate market management.

c) Effectively implement Directive 13/CT-TTg dated August 29, 2022 of the Prime Minister on a number of solutions to promote the safe, healthy and sustainable development of the real estate market. Regularly and closely monitor the situation and developments of the real estate market, the construction materials market, especially the main materials, and quarterly report to the Prime Minister on solutions to stably develop the real estate market and ensure supply and demand, and prices of construction materials.

7. The Ministry of Transport presides over and coordinates with relevant agencies.

a) Focus on resolving difficulties and obstacles, guiding procedures to accelerate the implementation of key, important national and inter-regional transport projects, especially the North-South expressway in the East for the 2017-2020 period and the 2021-2025 period; and other expressways decided by competent authorities; support and guide localities to accelerate the implementation of urban railway projects, expressway projects invested in the form of public-private partnerships, accelerate the progress and guide the implementation of upgrading and expanding, starting construction of dual-use airports decided by competent authorities; urgently study the upgrading and expansion under the public-private partnership method for dual-use exploitation of a number of other airports considered and decided by competent authorities. Strive to shorten the construction time of projects.

b) Coordinate with the Ministry of Natural Resources and Environment and localities to have plans to ensure construction materials (soil, rock, sand, etc.) fully and promptly meet the needs of important national and inter-regional transport projects.

c) Effectively implement solutions to combat traffic congestion, especially at seaports, international airports, and border gates, to facilitate the circulation of goods and restore production and business.

8. The Ministry of Natural Resources and Environment presides over and coordinates with relevant agencies.

a) Urgently research and propose to the Government and the Prime Minister mechanisms and policies to remove obstacles related to land, support the smooth and rapid implementation of site clearance work. Closely coordinate with the Ministry of Finance in resolving obstacles in land valuation, land use fee collection, site clearance compensation, etc. Urgently develop and complete the draft Land Law (amended) to submit to competent authorities as prescribed.

b) Immediately guide ministries, central and local agencies on the licensing process for mining and exploiting raw materials of stone, sand, soil, gravel, and sea sand for public investment projects, ensuring speed, efficiency, and compliance with legal regulations.

9. The Ministry of Culture, Sports and Tourism shall preside over and coordinate with relevant agencies to promote tourism, develop new products; promote the application of information technology, promote digital transformation in tourism activities; and have appropriate and effective solutions to increase the attraction of international visitors.

10. The Ministry of Labor, War Invalids and Social Affairs presides over and coordinates with relevant agencies

a) Strengthen inspection and supervision of the implementation of social security policies, continue to implement programs to support the development of the labor market effectively, sustainably and integratedly; promptly have plans to support businesses to overcome labor shortages.

b) Preside over and coordinate with the Ministry of Education and Training and relevant agencies to focus on researching and proposing vocational training policies, developing high-quality human resources associated with promoting the connection between supply and demand to develop the labor market, promptly meeting current domestic and foreign investment needs.

11. The Ministry of Health presides over and coordinates with relevant agencies.

a) Continue to closely monitor the development of the COVID-19 epidemic and other epidemics, not allowing "epidemics to overlap with epidemics". Strictly implement epidemic prevention and control measures; resolutely urge and guide the organization of safe, scientific and effective vaccination against COVID-19 in localities.

b) Strengthen management of drug, material, and medical equipment prices, combat speculation, price increases, corruption, and negativity. Urgently complete regulations and guidelines on medical service prices; import and purchase of drugs, materials, and medical equipment; advocate socialization and public-private partnership in the health sector; promptly and effectively overcome existing problems and difficulties, and ensure adequate supply of drugs, equipment, materials, and medical biological products.

12. The State Capital Management Committee at Enterprises, ministries, branches and localities urgently direct and complete the Project on restructuring state-owned corporations and groups under their management, and submit it to the Prime Minister for consideration and approval in accordance with the direction in Resolution No. 68/NQ-CP dated May 12, 2022 of the Government and Decision No. 360/QD-TTg dated February 17, 2022 of the Prime Minister.

The State Capital Management Committee at Enterprises focuses on reviewing, perfecting and directing the drastic and effective implementation of plans to handle loss-making and ineffective projects and enterprises within its management scope.

13. The Ministry of Foreign Affairs focuses on performing well foreign affairs tasks; strengthening economic diplomacy, consolidating and developing relations with partners in a practical and effective manner, creating a position of intertwined interests, expanding markets to potential areas; together with ministries, branches and localities, continuing to effectively implement the policy of building an independent and self-reliant economy associated with proactive and active international integration, in a deep, practical and effective manner.

14. The Ministry of Public Security shall preside over and coordinate with the Ministry of Foreign Affairs, the Ministry of Culture, Sports and Tourism and relevant agencies to research and find solutions to create more favorable visa policies and mechanisms for foreigners to enter Vietnam to increase the attraction of international visitors to Vietnam, promote the recovery of international tourism, and report to the Prime Minister before October 15, 2022. Focus on ensuring political security, social order and safety; strengthen economic security, prevent all types of crimes, and contribute to creating a favorable and safe business environment.

15. The Ministry of National Defense focuses on directing the strengthening and consolidation of national defense and security, firmly protecting independence and sovereignty; closely monitoring and grasping developments on land, sea and airspace, proactively taking appropriate solutions, not being passive and surprised in any situation; building a border of peace, friendship, cooperation and development.

16. The Ministers, Heads of ministerial-level agencies, Government agencies, Chairmen of People's Committees of provinces and centrally-run cities, according to their assigned functions and tasks, focus on directing:

a) Continue to proactively and resolutely implement the tasks and solutions set out in the Resolutions of the Party, the National Assembly, and the Government, especially Resolution No. 01/NQ-CP dated January 8, 2022, Resolution No. 02/NQ-CP dated January 10, 2022, Resolution No. 54/NQ-CP dated April 12, 2022, and the Government's specialized Resolutions. In September 2022 and quarterly, report to the Government and the Prime Minister on the results achieved, limitations, shortcomings, and proposals and recommendations according to the scope, functions, and assigned tasks of ministries, branches, sectors, and localities.

b) Strengthen coordination among relevant ministries, agencies, and localities in the entire process of developing, promulgating, implementing, and evaluating mechanisms, policies, solutions, and measures for macroeconomic management and operation, especially fiscal, monetary, investment, trade, market, price policies, and other related policies, ensuring smoothness, efficiency, synchronization, unity, regularity, continuity, and systematicity.

c) Closely monitor domestic and international developments, proactively analyze, evaluate, and forecast to have timely, comprehensive, and synchronous solutions, take advantage of opportunities and advantages, and minimize negative impacts on the economy and business production of enterprises. Ministries and branches that synthesize and monitor macroeconomic fields are responsible for closely and effectively coordinating in advising and proposing specific solutions and measures, and promptly reporting to the Government and the Prime Minister on issues arising during the implementation process.

d) Absolutely do not be negligent or subjective, continue to implement drastic, synchronous and effective solutions for the COVID-19 Prevention and Control Program.

d) Speed ​​up the implementation and disbursement of public investment capital plans, the Socio-Economic Recovery and Development Program, 03 National Target Programs and large-scale, key projects, especially the Ho Chi Minh City Ring Road 3, Hanoi Ring Road 4, and expressways passing through the area.

For the Socio-Economic Recovery and Development Program, it is necessary to proactively review and evaluate the disbursement capacity, propose to competent authorities plans to adjust and supplement resources for other policies that still have room to be implemented according to the requirements of Resolution No. 11/NQ-CP of the Government if necessary.

17. Chairmen of People's Committees of provinces and centrally-run cities, according to assigned functions and tasks:

a) Focus on directing the drastic, synchronous and effective implementation of the proposed tasks and solutions on stabilizing the macro-economy, controlling inflation, promoting growth, and ensuring major balances in the province and city.

b) Proactively organize inspection, review, and overall assessment of the announcement of construction material prices and construction price indexes in the management area from 2021 onwards, ensuring announcement close to market prices, fairness, transparency, anti-negativity, corruption...

c) Focus on removing difficulties and obstacles, promoting administrative procedure reform, creating favorable conditions for people and businesses, increasing investment attraction, promoting production and business development in the province and city.

d) Strengthen management and control of prices and markets, prevent trade fraud; effectively implement social security policies, ensure people's lives; strengthen national defense and security, maintain political security, social order and safety, and do a good job of foreign affairs and international integration in the province and city according to assigned functions and tasks.

18. The Ministry of Information and Communications shall preside over and coordinate with relevant agencies to focus on directing and guiding digital transformation and developing a practical and effective digital economy; strengthen information and communication work, contributing to creating social consensus in responding to and actively participating in implementing solutions to maintain macroeconomic stability, control inflation, promote growth and ensure major balances of the economy in the new situation.

III. IMPLEMENTATION ORGANIZATION

1. Ministers, Heads of ministerial-level agencies, Government agencies, Chairmen of People's Committees of provinces and centrally-run cities shall focus on thoroughly grasping, promptly and extensively organizing timely and effective implementation and directing agencies, organizations and units under their management to strictly implement the tasks stated in this Directive; be directly responsible to the Government and the Prime Minister for the implementation and results of this Directive.

The Ministry of Planning and Investment shall preside over and coordinate with ministries, branches and localities to monitor, urge and synthesize the implementation of tasks and solutions stated in this Directive, and report to the Government at the monthly regular meeting.

2. Ministries, branches and localities regularly take the initiative, closely coordinate, closely monitor the developments of the world and domestic socio-economic situation, analyze, forecast, develop scenarios and response plans according to their authority, and in cases beyond their authority, propose to the Government and the Prime Minister appropriate and timely solutions and policies.

3. We respectfully request the Vietnam Fatherland Front, socio-political organizations, social organizations, and unions to continue to accompany and closely coordinate with ministries, branches, and localities to strengthen propaganda, mobilize, and guide people to support and actively participate in implementing solutions to maintain macroeconomic stability, control inflation, promote growth, and ensure major balances of the economy in the new situation; at the same time, well implement programs and emulation movements on new rural construction, cultural life, and tasks and solutions for socio-economic development in all fields./.