(BNP) - Prime Minister Pham Minh Chinh has just signed Official Dispatch No. 128/CD-TTg dated August 6, 2025 requesting ministries, branches and localities to deploy a number of important tasks and solutions to promote growth, control inflation and stabilize the macro-economy, ensuring major balances of the economy.
Illustrative photo (Source: Internet)
The dispatch stated that in the first 7 months of 2025, the country's socio-economic situation achieved many important and positive results in most areas. In the last months of 2025, the Government is determined to strive for a GDP growth rate of 8.3 - 8.5% in 2025; an average consumer price index (CPI) growth rate of less than 4.5% in 2025; and continued improvement in the material and spiritual lives of the people.
To achieve the above goal, the Prime Minister requested the State Bank of Vietnam to preside over and coordinate with relevant agencies to closely monitor developments, the world and domestic economic situation, and economic growth scenarios to operate monetary policy proactively, flexibly, promptly, effectively, in accordance with macroeconomic developments and monetary policy objectives in accordance with the tasks and solutions set out; closely, harmoniously, smoothly and synchronously coordinate with fiscal policy and other macroeconomic policies, contributing to promoting growth.
Urgently develop a roadmap and pilot the removal of the measure of assigning credit growth targets to be implemented from 2026; in which it is necessary to develop standards and criteria for credit institutions to operate effectively, healthily, have good governance and management capabilities, comply with safety ratios in banking operations and high safety credit quality indexes..., ensuring publicity and transparency; The State Bank of Vietnam is responsible for inspection, examination, supervision and post-audit, not allowing systemic risks to occur, ensuring security and safety of the credit institution system and controlling inflation according to the set targets.
Continue to direct credit institutions to reduce costs, simplify administrative procedures, promote digital transformation... to have more room to reduce lending interest rates, support production and business of enterprises and people in the spirit of "harmonized benefits, shared risks"; direct credit capital to priority areas, traditional growth drivers of the economy (investment, export, consumption) and new growth drivers (science and technology, innovation, digital economy, green economy, circular economy...) according to the Government's policy, ensuring safe and effective credit growth expansion.
Review, develop and immediately supplement priority mechanisms and policies to more effectively and drastically implement the credit program for young people under 35 years old to buy, rent, or hire-purchase social housing, the VND 500,000 billion credit program for enterprises investing in infrastructure, science, technology, innovation, digital transformation, etc. Policy implementation must be timely and effective; not formalistic, and definitely not allowing money to be disbursed.
The Ministry of Finance shall preside over and coordinate with relevant agencies in implementing a reasonable, focused, and key expansionary fiscal policy, closely coordinating, harmonizing, and effectively with monetary policy and other macroeconomic policies. Diversify resources to support economic development; have solutions to further promote public investment disbursement; calculate and determine capital needs and implement solutions to enhance the mobilization and effective use of public investment capital, FDI capital, foreign loans, and research the issuance of bonds, especially for key projects.
Resolutely and effectively implement solutions to develop the capital market, the stock market, and the corporate bond market in a sustainable, stable, safe, and healthy manner to meet the medium- and long-term capital needs of the economy, reduce dependence on bank credit; promptly implement necessary measures to upgrade the stock market from a frontier market to an emerging market, promptly remove difficulties and obstacles to meet the upgrading criteria, and create favorable conditions for capital mobilization for the country's economic development.
Closely coordinate with relevant ministries and agencies to build and update the national database on enterprises to ensure consistency, completeness and timeliness to facilitate credit institutions to promote digital transformation, accurately assess business operations, improve credit risk management capacity and expand credit safely and effectively.
Continue to strengthen and improve the operational efficiency of State-owned enterprises and credit support mechanisms such as the Credit Guarantee Fund for Small and Medium Enterprises and the Small and Medium Enterprise Development Fund, ensuring that these funds operate substantially and effectively.
The Ministry of Agriculture and Environment shall preside over and coordinate with ministries, agencies and localities to urgently and effectively implement solutions to boost agricultural production, especially food and foodstuffs, to ensure adequate supply to meet domestic demand and firmly ensure national food security in all situations; at the same time, strengthen and promote the export of Vietnamese products with strengths to markets and regions in the Middle East, South America, Africa, especially within the ASEAN bloc.
Focus on directing the restructuring of the agricultural sector towards large-scale commodity production, developing green, organic, circular and sustainable agriculture. Review planning and production plans towards product and market diversification to proactively and flexibly adapt to fluctuations and new market demands; promote the development of geographical indications, product brands, issue codes for growing and farming areas, build a strict product traceability system, avoid trade fraud, especially for industries with high risk of origin evasion; promote research, application of science and technology, innovation, digital transformation in the agricultural sector.
Closely monitor weather developments, natural disasters, storms and floods to proactively warn and provide timely response instructions, minimize damage, ensure safety of people's lives and property; support people in overcoming the consequences of natural disasters, promptly restore production and stabilize life.
The Ministry of Industry and Trade shall preside over and coordinate with relevant ministries and agencies to further strengthen management solutions, regulate production, stabilize supply and demand of goods, strongly promote domestic consumption, increase purchasing power, stimulate domestic consumption and tourism; strengthen supply and demand connections and trade promotion, proactively negotiate with countries with potential markets to continue expanding and diversifying export markets. At the same time, implement connection programs, organize agricultural weeks and Vietnamese goods fairs to exploit the potential of domestic and foreign markets in a practical and effective manner.
Promote industrial restructuring towards modernization, in-depth development, promote industrial production activities, improve productivity, quality, added value and competitiveness of products of advantageous and key industries of Vietnam. Effectively exploit domestically produced raw materials, limit imports.
The Ministry of Construction shall preside over and coordinate with relevant agencies to urgently implement solutions to stabilize supply and demand, prices and promote consumption of domestically produced goods and construction materials. Develop specific plans to promote the effectiveness of social housing construction. More actively and drastically implement railway projects connecting China - Central Asia - Europe. Effectively exploit transportation methods.
The Ministry of Culture, Sports and Tourism and localities focus on effectively implementing the 2025 Tourism Stimulus Program; developing diverse and high-quality tourism products, promoting tourism and the image of Vietnam and its people to strongly attract international tourists to Vietnam.
The Ministry of Home Affairs shall preside over and coordinate with relevant agencies to strengthen the connection between labor supply and demand, develop a sustainable and effective labor market, meet the economy's demand for labor resources, and promote the shift in labor structure towards modernity, quality, and professionalism.
Ministries, branches and Government agencies, based on their functions, tasks and powers, shall be more proactive and active in contributing to the whole country in achieving the goal of stabilizing the macro economy, controlling inflation below 4.5% and achieving growth of 8.3% - 8.5%.
The People's Committees of provinces and centrally run cities shall proactively and actively grasp the existing problems, difficulties and obstacles in the production and business activities of state-owned enterprises to promptly find solutions to remove them and promote production and business according to their authority and legal regulations; in cases beyond their authority, they shall promptly report to competent authorities for consideration and decision. Urgently review and thoroughly resolve long-standing and stuck projects to mobilize and release resources for economic growth and development.
