Stimulate consumption, support production, business, and develop domestic market

The Prime Minister's Directive clearly states that, in order to promptly remove difficulties for production and business activities, stimulate consumption, promote domestic market development, contribute to promoting growth, maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy, the Prime Minister requests ministers, heads of ministerial-level agencies, government agencies, Chairmen of People's Committees of provinces and centrally run cities, industry associations and enterprises to focus on implementing a number of tasks and solutions.

Early operation of works and investment projects to create new production capacity

Regarding the general tasks, the Prime Minister requested to soon put into operation works and investment projects to create new production capacity. In particular, focusing on reviewing and prioritizing solutions to remove difficulties in disbursing public investment capital, credit packages, land as well as policies to attract social resources to participate in implementing projects suitable to the scale and market signals.

Unblock the domestic market, have policies to encourage consumption, encourage investment in areas where domestic production has strengths and domestic production capacity and market demand.

Review and have policies to support domestic enterprises to participate in the supply chain of supporting industrial products of foreign-invested manufacturing and exporting enterprises in Vietnam.

Implement regional connectivity solutions to reduce transportation costs, facilitate the circulation of goods between regions; support businesses to shift investment to regions with competitive advantages in factors such as production and business premises, abundant labor resources and cheap labor costs to reduce production costs.

Ministries, agencies and localities deploy applications of digital transformation technology, artificial intelligence (AI), big data and blockchain technology to continue promoting reform and simplifying administrative procedures.

Promote domestic market trade promotion, connect supply and demand, support market information provision, and legal advice for small and medium enterprises.

Continue to strictly implement Directive No. 03-CT/TW dated May 19, 2021 of the Secretariat on strengthening the Party's leadership over the campaign "Vietnamese people prioritize using Vietnamese goods" in the new situation and Directive No. 28/CT-TTg dated October 26, 2021 of the Prime Minister on strengthening the implementation of the campaign "Vietnamese people prioritize using Vietnamese goods" in the new situation.

Forming pure Vietnamese product chains

The Prime Minister also assigned specific tasks to each ministry and locality. In particular, the Ministry of Industry and Trade will promote the implementation of solutions to link production with the distribution of goods, strengthen linkages in the value chain of goods, and strictly implement regulations on food quality and safety, forming chains of purely Vietnamese goods. Continue to strongly implement activities to connect supply and demand of goods, in order to promote the consumption of domestically produced goods in traditional and modern distribution channels.

Organize regional and national promotional programs, coordinate with localities to strengthen supply-demand connection activities, distribute OCOP products, bring goods to remote areas, industrial parks to stimulate domestic consumption.

Encourage e-commerce platforms operating in Vietnam to implement programs to consume domestically produced products and goods. Launch a movement to consume Vietnamese goods and local products through Vietnamese booths and Vietnamese products on e-commerce. Organize activities to promote regional linkages in e-commerce, cross-border e-commerce promotion activities with countries in the region and major import markets.

Organize programs and events to support people and businesses in applying digital technology, developing new models in buying and selling goods online, supporting Vietnamese businesses to connect and expand the market for domestically produced products.

The organization connects domestic enterprises to participate in the supply chain of foreign-invested enterprises in Vietnam and large global enterprises to promote the consumption of domestically produced goods.

Implement solutions to support businesses in handling issues related to trade defense investigations, origin fraud, technical barriers related to the environment, sustainable development, green transformation to promote the export of Vietnam's key export products to major markets such as China, EU, USA, Japan, Korea, etc.

Review and handle backlogs in important industrial and processing industry production projects; promptly remove difficulties so that these projects can soon come into operation, contributing to increasing production capacity for the economy.

Continue to implement solutions to stabilize production, balance supply and demand of basic and essential goods to serve production and consumption at the end of the year.

Promote investment attraction in projects to produce import-substituting goods, increase production capacity and create more jobs, gradually reducing dependence on foreign basic raw materials and fuels.

Speed ​​up disbursement procedures for implementing trade promotion programs

The Ministry of Finance shall conduct a reasonable, focused, and flexible expansionary fiscal policy, in synchronous, harmonious, and flexible coordination with monetary policy and other macroeconomic policies to promote growth, stabilize the macroeconomy, control inflation, and ensure major balances of the economy.

Directing to speed up procedures for disbursing funds to implement trade promotion programs of ministries, branches and localities to boost consumption of domestically produced goods.

Coordinate with the Ministry of Industry and Trade to research solutions to strictly control imported goods via e-commerce in accordance with Vietnam's international commitments.

Coordinate with relevant ministries and agencies to review and propose tax policies for projects attracting investment in the production of goods to replace imported goods.

Increase lending for living and consumption

The State Bank of Vietnam operates monetary policy proactively, flexibly, promptly, effectively, harmoniously, and closely with fiscal policy and other macroeconomic policies. Operates credit in harmony with macroeconomic developments, flexibly operates exchange rates according to the market to stabilize the foreign exchange market... contributing to supporting economic growth and controlling inflation. Continues to direct the implementation of credit growth solutions, directing credit to production, business, priority sectors and growth drivers.

The State Bank of Vietnam directs credit institutions to research and develop credit products and banking services specifically for the consumer sector, and increase lending for life and consumption. Promote lending through electronic and online forms; simplify loan and consumer loan procedures, creating favorable conditions for people and businesses to access loans to promote consumption of domestically produced goods. Strengthen inspection and supervision of the implementation of credit institutions to ensure that State policies reach people and businesses promptly and to the right target.

Directing the acceleration of preferential credit programs and policies such as: The 140,000 billion VND credit package program for loans to develop social housing; The project "Investing in the construction of at least 1 million social housing units for low-income earners and industrial park workers in the period 2021-2030"; expanding the 30,000 billion VND loan program for the forestry and fishery sectors.

Connecting to support the consumption of agricultural products in concentrated production areas

The Ministry of Agriculture and Rural Development directs localities to promote the development of production, consumption and export of agricultural products for concentrated farming and growing areas. Coordinate with the Ministry of Industry and Trade and the People's Committees of provinces and cities to effectively implement trade promotion programs, build brands, connect and support the consumption of agricultural products in concentrated production areas; promote green and clean production, ensuring food hygiene and safety.

At the same time, the Ministry of Agriculture and Rural Development will preside over and coordinate with relevant agencies to focus on removing difficulties and obstacles related to procedures for declaring and conforming veterinary drugs; promote the opening of the official agricultural export market to neighboring markets such as China, urgently negotiate with relevant Chinese agencies to reduce the rate of animal and plant quarantine, and facilitate agricultural products entering the Chinese market.

Have appropriate policies to promote the real estate market to develop safely and sustainably.

The Prime Minister assigned the Ministry of Construction to preside over and coordinate with ministries, branches and localities to have appropriate policies to promote the safe and sustainable development of the real estate market, build housing, especially social housing to stimulate consumption of domestically produced construction materials such as cement, steel, bricks, tiles, etc.

The Ministry of Planning and Investment continues to promote the implementation of solutions to improve the investment and business environment, simplify investment processes and administrative procedures to facilitate investment and business activities of people and enterprises; preside over and coordinate with relevant ministries and branches to research and propose competent authorities to consider incentive policies for investment projects using domestically produced raw materials and goods. Regularly review and urge the implementation of public investment projects and take measures to handle slow-moving projects.

Removing difficulties in terms of premises to attract and expand investment in production and business

The People's Committees of provinces and centrally-run cities direct competent agencies to implement solutions in accordance with the provisions of law and in accordance with local conditions in removing difficulties in terms of premises to attract and expand investment in production and business of enterprises... to create new production capacity.

Organize the domestic market well, traditional and modern distribution channels, facilitate the consumption of goods; strengthen regional and area connections to exchange potentials and strengths, focusing on logistics connections, facilitating the transportation of goods.

Preside over and coordinate with relevant ministries, branches and agencies to implement trade promotion programs, stimulate consumption, support the consumption of locally produced goods, especially at the end of the year to maximize the domestic market. Direct the distribution system in the area to ensure the supply of essential goods.

Reduce costs, reduce product prices

The Prime Minister requested industry associations to proactively grasp information, market demand, difficulties and problems of member enterprises in production and consumption of goods to promptly propose to competent authorities measures to support and remove them.

Corporations and general companies focus on innovating management, enhancing research and development, improving competitiveness, reducing costs, reducing product prices, improving operational efficiency; increasing the use of raw materials and products of domestic manufacturing enterprises; coordinating with ministries, branches, localities, and industry associations in implementing promotional programs to stimulate consumption of products and goods.

Direct member enterprises to develop effective production and business plans, improve product competitiveness, focus on exploiting domestic market areas with demand but limited capacity to meet demand; provide information and propaganda for enterprises in investment activities in projects to produce import-substituting goods.