PM directs tasks to boost economic growth

PM directs tasks to boost economic growth

Monetary tools, particularly exchange rates, interest rates and credit, must be managed flexibly and effectively to ensure the smooth, safe and stable operation of the monetary and banking systems

A container truck passed through Thanh Thuỷ International Border Gate in the northern province of Tuyên Quang, bordering China. — VNA/VNS Photo

Prime Minister Phạm Minh Chính on Wednesday signed an urgent dispatch detailing key tasks to drive economic growth.

To fully realise the 2025 socio-economic development plan, while creating momentum for 2026, PM Chính urged ministers, heads of ministry-level agencies, and chairpersons of People’s Committees of provinces and centrally-run cities to strictly follow resolutions of the Party, the National Assembly and the Government, along with the Prime Minister’s directives.

They were asked to urgently review and propose bold “policy breakthroughs” to convert opportunities into concrete outcomes, decisively resolve persistent bottlenecks within their authority, and promptly report issues exceeding their authority to higher competent bodies in accordance with regulations.

The State Bank of Vietnam (SBV) was tasked with working the Ministry of Finance (MoF) and relevant ministries and agencies to perform a proactive, flexible, timely and effective monetary policy, closely and harmoniously coordinated with an appropriately expanded fiscal policy and other macroeconomic policies. The goal is to maintain macroeconomic stability, promote growth, control inflation and ensure major economic balances.

Monetary tools, particularly exchange rates, interest rates and credit, must be managed flexibly and effectively to ensure the smooth, safe and stable operation of the monetary and banking systems, thereby supporting production and trade activities, generating employment and attracting investment.

The SBV was directed to urgently propose the establishment of a national gold exchange and submit the plan to standing Government members by December 20, 2025. Credit allocation must be tightly controlled to prioritise drivers of inclusive and sustainable growth, including sci-tech, green and digital transformation, social housing and post-disaster recovery.

The MoF, in collaboration with relevant ministries and agencies, was assigned to swiftly propose and finalise mechanisms, policies and legal regulations to ensure the effective operation of an international financial centre in Việt Nam, while advancing the green bond market, regulatory sandboxes and rules for new financial instruments in line with existing laws.

It must also intensify inspections and oversight of public investment disbursement by ministries, agencies and localities, especially for national key projects, major infrastructure, expressways, inter-regional schemes and those with spillover effects.

The ministry was further instructed to pilot a cryptocurrency market, ensuring healthy, effective and secure operations, robust risk management and protection of investors’ legitimate rights and interests.

It was also required to urgently complete the national one-stop investment portal and report to the PM this month, while devising measures to better utilise fiscal space to bolster macroeconomic stability and pursue double-digit growth, including through bond issuance for critical projects and major infrastructure works.

Additional specific tasks were assigned to relevant ministries, agencies, municipal and provincial authorities. 

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