Bold actions taken to boost growth in Q3

Chia sẻ

(VOVWORLD) - Vietnam must seize every opportunity and advantage, especially from the newly issued policies and the two-tier local government model, to tap into new development spaces and stimulate growth immediately in Q3 and for the rest of the year. This is the key directive outlined in the Government’s Resolution 205 issued last weekend.

Bold actions taken to boost growth in Q3 - ảnh 1(illustrative photo: congthuong.vn)

 The Government assessed that global developments will remain unpredictable in the coming period. Challenges will outweigh opportunities and advantages, putting significant pressure on socio-economic development management. Vietnam must exert its utmost effort to achieve its 2025 socio-economic development targets.

Effectively implement Politburos resolutions, concentrate on institutional improvement

The first group of tasks mentioned in the Government’s Resolution stresses the need to effectively implement the Politburo’s resolutions on science and technology, innovation, and national digital transformation; law building and enforcement; international integration; and private economic development.

The Ministry of Science and Technology is assigned to coordinate with agencies and localities to finalize the master plan on developing and utilizing talent and high-quality human resources, particularly top-level experts, to serve national science, technology, innovation, and digital transformation goals. The plan must be submitted to the Prime Minister by September.

The Ministry of Home Affairs and the Ministry of Education and Training are tasked with designing policies to attract domestic and foreign science and technology talents. In July, they will submit to the Government a decree on scholarship policies for students in core sciences, engineering, and strategic technologies.

The Government requests that ministries, sectors, and localities focus resources on improving the legal framework in line with the restructuring of administrative units at all levels and the organization of the two-tier local government system.

Competent authorities must closely monitor the operation of the newly restructured administration and the implementation of 28 decrees on decentralization and delegation of powers to ensure uninterrupted operations, efficiency, and effectiveness, and not disrupt the normal performance of government agencies and businesses, or citizens’ lives.

At a working session with Mekong Delta leaders on Sunday in Can Tho city, Minister of Home Affairs Pham Thi Thanh Tra asked Chairpersons of provincial Peoples Committees to issue regulations defining the functions, tasks, and powers of agencies under their authority.

“Similarly, commune-level Chairpersons outlines the roles and responsibilities of their subordinate agencies. Special attention should be paid to technical infrastructure to ensure consistency and coordination when merging local administrative units,” she said. 

Accelerating public investment disbursement, mobilizing resources

The Government asks ministries, agencies, and localities to strictly comply with regulations on the allocation and disbursement of public investment capital. Monthly disbursement targets must be assigned to each investor, while capital should be promptly shifted from slow or underperforming projects to those with good disbursement rates and additional capital needs. The goal is to fulfill disbursement plans assigned by the Prime Minister.

The Government aims to increase total social investment by 11–12%. Projects eligible for groundbreaking or inauguration by August 19 will be reviewed and finalized. Industrial production, trade promotion, and domestic supply-demand balance are identified as key factors for growth. Policies on tax incentives and credit support will be adjusted to stimulate core processing and manufacturing industries, such as electronics, automobiles, machinery, textiles, leather and footwear.

Vietnam will step up trade promotion and goods distribution via digital platforms and provide businesses with market information and legal advice to stimulate domestic markets and further the campaign “Vietnamese people prioritize Vietnamese goods”.

In order to achieve its 2025 development goals, Vietnam must mobilize efforts across all sectors to grasp every development opportunity and fully tap into new growth spaces to drive momentum in Q3 and beyond.

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