return icon

VND350 trillion for economic recovery must be disbursed soon

The investment capital of nearly VND350 trillion for the Socio-Economic Development and Recovery Program must be quickly disbursed, said Deputy Prime Minister Le Minh Khai.


Thuc day trien khai Chuong trinh phuc hoi kinh te anh 1

Deputy Prime Minister Le Minh Khai. Photo: VGP


On January 25, Deputy Prime Minister Le Minh Khai chaired a meeting with relevant ministries and agencies to collect comments on completing the Government's draft resolution on the program of socio-economic recovery and development.

At the last extraordinary session, the National Assembly voted to approve and the National Assembly Chairman signed and issued Resolution No. 43 on fiscal and monetary policies to support the program of socio-economic recovery and development.

Deputy Prime Minister Le Minh Khai said this is a very important resolution to implement economic recovery. On the basis of Resolution 43, the Government assigned the Ministry of Planning and Investment to develop a draft resolution to implement the program.

With a 2-year implementation and huge investment capital (nearly VND350 trillion), Khai noted that the program must be carried out as soon as possible.

Referring to the support policy of 2%/year for a credit program with interest rates above 6%/year, Deputy General Director of the Bank for Social Policies Bui Quang Vinh proposed mainly supporting loans in 2022-2023, with a total support interest rate of about VND 3,000 billion (VND 1,500 billion per year).

He also suggested that the Prime Minister approve the project soon to issue Government guaranteed bonds for the Bank for Social Policies, because all resources for the program are mobilized from bonds guaranteed by the Government.

Meanwhile, Deputy Governor of the State Bank of Vietnam Pham Thanh Ha proposed continuing refinancing the Bank for Social Policies so that employers can borrow loans to pay wages for those who stop working, and wages to restore production to employees under the Government’s resolution.

Concluding the meeting, Deputy Prime Minister Le Minh Khai emphasized that this economic recovery program must be implemented fast in a transparent clear manner to ensure its effectiveness.

Resolution 43 of the National Assembly sets out the goal of recovering and rapidly developing production and business activities, promoting the growth engine, prioritizing a number of important industries and fields, striving to achieve the goals of the 2021-2025 period, such as average GDP growth rate of 6.5 - 7%/year, public debt below the warning level allowed by the National Assembly.

Deputy Minister of Planning and Investment Tran Quoc Phuong said that the draft resolution consists of four parts, identifying specific and detailed tasks and solutions of each ministry, agency and locality according to an appropriate roadmap, ensuring fast implementation, limiting the amendment, supplement or issuance of new legal documents. In case it is necessary to promulgate new legal documents, they shall follow the simplified order and procedures to promptly submit them to competent authorities for consideration and approval in the first quarter of 2022.


New support package to help economic recovery post-pandemic

New support package to help economic recovery post-pandemic

When the Covid-19 pandemic broke out, Vietnam was in a zero-vaccine state, so it had to implement social distancing to protect people's health and life.


VN manages to control public debt

Viet Nam managed to control public debt within a safe level with gradually slowing year-on-year increases. However, according to the Ministry of Finance, the economy was severely hit by the COVID-19 pandemic in the past three years.

Hanoi needs to combine green growth with urban development

The capital Hanoi is focusing on urban development towards green and sustainable growth and building a smart and modern city.

Phu Yen man makes unique plates from sea grape leaves

Nguyen Van Tuyen, a 38-year-old man from Phu Yen, has successfully designed and produced environmentally-friendly plates made from the leaves of sea grape, a tropical tree.

Bad vendors put e-commerce at risk

Smuggled, counterfeit and low-quality products have begun to spread rapidly on e-commerce platforms as the absence of physical product touch in online shopping puts buyers at a disadvantage.

Thai Nguyen listed among top 6 best places globally to enjoy tea

Marking International Tea Day, travel website has unveiled a list of the top six must-visit destinations around the world for travelers to dive into the historical and cultural values of tea, with Thai Nguyen featured in the list.

SEA Games men’s football final tickets stir black market

Tickets for the final of the men’s football at the ongoing SEA Games 31 are being offered for sale at shockingly high prices of up to VND8 million (USD348) each.


SEA Games 31: Thai weightlifter conquers men’s 67kg class

Doll collection created in honour of Mother Goddess worshipping

Inspired by Mother Goddess worshipping - a UNESCO Intangible Cultural Heritage - designer Van Anh Scarlet created a collection of figurative dolls based on the ritual, called the “Painting of the Four Palaces”.

Try some typical Muong grub

The Mường ethnic people living in Hòa Bình, Thanh Hóa or Phú Thọ share the same origin and almost the same way of living in harmony with nature.

VN food exporters turn focus to domestic market

Vietnamese are tending to consume foods of clear origin and high quality after the COVID-19 pandemic, causing many export-oriented food brands to turn their attention to the domestic market.

Stormy time for HOSE: network pending, leader disciplined

In 2021, the HCM City Stock Exchange (HOSE) reported a 21-year high profit. However, it was also the year when many problems occurred.

Facebook to register, declare and pay foreign contractor tax in Vietnam

Meta, the parent company of Facebook, on the occasion of the signing of a memorandum of understanding with the National Innovation Center (NIC), made the tax payment commitment.

Prime Minister’s ‘3-in-1’ business trip to the US

The business trip to the US of Prime Minister Pham Minh Chinh has brought important bilateral and multilateral results, according to Deputy Minister of Foreign Affairs Ha Kim Ngoc.

Corporate bond issuance drops sharply after arrest of Tan Hoang Minh chair

After the cancelation of nine corporate bond issuances of three companies related to Tan Hoang Minh, the volume of private offerings fell sharply by 33 percent to VND30 trillion in April.

Why the stock market sell-off when VN’s economy is strong?

Vietnam’s benchmark VN-Index sold off 11 per cent last week and was down 21 per cent in the year to date at the end of last week after being nearly flat until March end.