Known as Resolution 105, it is intended to reduce costs and increase market and capital access for enterprises and people to promote economic recovery and record the fastest growth possible.
The resolution is also designed to further enhance the business environment, ensure a fair and transparent competition environment, and address the impediments to growth, especially those that have remained unresolved for years.
To realise such goals, the Government has outlined several key tasks, including boosting domestic consumption and exports, expediting public investment disbursement, promoting investment in advanced technology and environmentally friendly industries, improving capital access for enterprises, and stepping up administrative reform.
In its resolution, the Government asked the State Bank of Vietnam to relax monetary policy in an appropriate manner and direct credit institutions to strive to cut lending rates by 1.5-2 percentage points.
The Government also requested the central bank to adjust the credit growth target following the actual situation to meet the economy’s capital needs.
For its part, the Ministry of Finance was ordered to implement tax and fee reduction policies effectively and continue proposing other fiscal support measures without affecting public debt safety.
