The Resolution No. 68/2022/QH15 of the National Assembly on continuing to prioritize maintaining macroeconomic stability, controlling inflation, promoting growth and ensuring major balances of the economy.

Published on 01 - 12 - 2022

On 10/11/2022, the National Assembly issued the Resolution No. 68/2022/QH15 on the socio-economic development plan in 2023.

The Resolution is on the content of continuing to give priority to maintaining macroeconomic stability, controlling inflation, promoting growth, and ensuring major balances of the economy, which is passed by the National Assembly of the Socialist Republic of Vietnam, term 15, the 4th session on November 10, 2022, specifically as follows:

To closely monitor economic developments and situation, prices, inflation, the world, regional and domestic markets, promptly identify risks to take appropriate countermeasures, manage synchronously, flexibly, coordinate closely fiscal policy with monetary policy and other macro policies to control inflation, contribute to stabilizing the macro foundation, and support a reasonable and effective economic recovery. To strengthen the capacity to adapt and withstand, and ensure the stability of the financial and banking system in all situations; strictly control inflation, actively and flexibly manage interest rate and exchange rate, suitable and close to the country's socio-economic situation. To implement fiscal policy expansion with focus, ensure efficiency, strengthen financial discipline, combat revenue loss; thoroughly thrifty, anti-waste; review to soon put resources that have not been effectively exploited in service of socio-economic development.

To meet the credit capital needs for the economy, focus on production and business activities, priority areas and growth drivers; control credit for potential risk areas. To encourage credit institutions to reduce costs, stabilize lending interest rates in order to support enterprises to recover and develop production and business. To drastically implement the Scheme on restructuring the system of credit institutions associated with dealing with bad debts in the period of 2021 - 2025 and the plan to handle weak credit institutions, projects and works behind schedule, inefficient investment, prolonged loss. To improve management capacity and efficiency of credit institutions, enhance transparency, and thoroughly overcome the situation of "cross-ownership", lend with no secured assets in contravention with the regulations or guaranteed assets to be priced incorrectly, lend to "internal" and "backyard" businesses. To timely adjust and remove difficulties, limitations and inadequacies in mechanisms, policies and laws for synchronous, safe, healthy, sustainable and integrated development, ensure smooth, healthy operation, the quality of money, stock, real estate, corporate bond markets; expand and improve the quality of the labor market and the scientific and technological market.

To strongly promote the development of the domestic market and expand the export market; diversify markets, products and supply chains; strive for a sustainable trade surplus. To make publicity and transparency in the administration of prices of goods and services; continue to perform solutions to closely manage and administer the adjustment of prices of important goods and public administrative services set by the State, especially the prices of electricity, gasoline, important, essentials goods and services, contributing to supporting production and business, people's life and controlling inflation. To step up inspection, examination, prevention and strict handling of acts of commercial fraud, speculation, manipulation, and unreasonable price increases, especially for important raw materials, materials and essential consumer goods. To effectively mobilize and use all resources, enhance the attraction of social investment, high-quality FDI capital, further promote the form of investment in the form of public-private partnership. To research and evaluate the impact of the Global Minimum Tax Rule on attracting investment in Vietnam to have appropriate solutions.

To strengthen financial discipline and state budget; strictly control the state budget deficit, public debt and government debt; consolidate and strengthen the leading role of the central budget, further promote the initiative and creativity of the local budget. To implement drastically and effectively the Program on socio-economic recovery and development, ensure the timeliness, publicity, transparency, right subjects, avoid profiteering. To accelerate approval of investment decisions, ensure completion of necessary procedures and conditions for early implementation and disbursement of tasks and projects using the Program's capital. During the implementation process, review the contents of the Program that are no longer suitable with the actual situation, and propose the competent authorities to make appropriate adjustments. To focus on effectively implementing 03 national target programs, ensuring the requirements in the resolutions of the National Assembly.

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