Prime Minister Nguyen Xuan Phuc: Instruct all levels and sectors not to wish superiors a Happy New Year

On the afternoon of January 9, in Hanoi, the Ministry of Finance held an online conference to deploy tasks in 2019. Prime Minister Nguyen Xuan Phuc chaired and gave instructions. Attending the conference were leaders of ministries, departments, branches, People's Committees of provinces and cities, Departments of Finance, and Tax Departments nationwide. At Nghe An bridge, comrade Le Ngoc Hoa - Vice Chairman of the Provincial People's Committee chaired.

The summary report of the Ministry of Finance presented by Minister Dinh Tien Dung shows that: In 2018, the management of State budget revenue and expenditure was proactive, ensuring strictness, discipline, order, harmoniously combined with monetary policy and other economic policies to achieve common goals, contributing significantly to restructuring the State budget, managing public debt to ensure a safe and sustainable national finance according to Resolution No. 07-NQ/TW of the Politburo and Resolution No. 25/2016/QH14 of the National Assembly.

As of December 31, 2018, state budget revenue reached VND 14,227 trillion, up 7.8% compared to the estimate. State budget deficit in 2018 is estimated at less than 3.6% of GDP, public debt is under 61% of GDP.

The Finance sector has also made clear and substantial changes in restructuring the economy in association with renewing the growth model, improving growth quality, labor productivity and competitiveness of the economy. Other tasks such as strengthening price management, controlling inflation, improving the efficiency of public asset use, inspection, etc. have all been performed well.

Panoramic view at Nghe An bridge. Photo: Lam Tung

To implement the tasks of 2019, the Ministry of Finance has identified 9 important solutions, focusing on tightly managing fiscal policies, flexibly and synchronously coordinating monetary policies and other macro policies, removing obstacles to promote production and business, implementing proposed solutions to restructure the State budget, managing expenditures according to estimates, implementing solutions to synchronously develop financial markets, securities, insurance, improving financial services, auditing, proactively integrating into international finance...

At the conference, many opinions from localities and agencies pointed out a number of limitations and solutions to implement tasks in 2019, in which many difficulties arose due to the fact that production and business have not yet recovered, the process of restructuring the economy and public investment is slow and unclear, disbursement of investment capital is slow, natural disasters are complicated...

Speaking at the conference, Prime Minister Nguyen Xuan Phuc highly appreciated the results that Vietnam achieved in 2018. The economic scale grew at the highest rate in the past decade. The quantity and quality of growth were improved, especially in the export sector. The budget deficit was reduced, budget expenditure was strict, in accordance with principles, and met financial discipline. The results that Vietnam achieved in 2018 had important contributions from the Finance sector.

In 2019, the Prime Minister assigned the Finance sector to resolutely carry out its tasks well. The Prime Minister assigned the Ministry of Finance to concretize the Law on Small and Medium Enterprises, remove difficulties for small and medium enterprises, consider this as a new resource, and have policies to develop supporting industries.

The Government is launching movements for start-ups, innovation, biotechnology, digital technology, etc., considering this as new space for development. The Finance sector needs to cover and strengthen market and price management, control inflation, reorganize and streamline the apparatus, and promote the completion of the autonomous operating mechanism of public service units.

The Prime Minister assigned the sector to proactively integrate into international finance, promote national competitiveness in the financial sector, and continue implementing the tax reduction roadmap within the framework of signed trade agreements.

The Prime Minister also requested that all levels and sectors thoroughly understand that they should not wish their superiors a Happy New Year.