Gov't proposes to continue 2% interest rate support policy
The Government has put forward a proposal to continue with the 2% interest rate support policy for enterprises, cooperatives, and business households, at a recent meeting of the National Assembly Standing Committee.
A road construction site in HCM City. (Photo: VNA)
Hanoi (VNS/VNA) - The Government has put forward aproposal to continue with the 2% interest rate support policy for enterprises,cooperatives, and business households, at a recent meeting of the NationalAssembly Standing Committee.
Deputy Minister of Planning and Investment Do Thanh Trung said thepolicy, among others, had been playing an important part in boosting economicrecovery. As of the end of September 2023, approximately 95.7 trillion VND hadbeen disbursed under numerous support schemes and policies.
There was a need to review the current developments as somepolicies had exhausted their budget while others had not produced desirableresults or had been moving along too slowly.
In addition, the Government advised that the policies be extendeduntil the end of 2025.
A government report said Vietnam has allocated approximately 154trillion VND under the programmes for2022-2023, aiming to expedite the commencement of construction for economic andsocial infrastructure projects, high-speed roads, and major border-crossingbridges.
However, there have been challenges and obstacles including delaysin completing investment procedures, allocation, and planning of funds forcertain tasks and projects resulting in some projects facing difficulties infully disbursing the allocated funds.
Therefore, the Government proposed the NA's Standing Committeegreenlight the transfer of available resources, estimated at 16.1 trillion VND,into four preferential lending policies. The Government also proposed thecancellation of a number of programmes under the management of the Ministry ofLabour, Invalids and Social Affairs, and the Ministry of Education.
Chairman of the NA's Economic Committee Vu Hong Thanh asked theGovernment to conduct additional review and research into the above-mentionedchallenges and obstacles to speed up the disbursement of public investmentcapital from the beginning of 2024, especially for critical national projects,key infrastructure, and the three National Target Programmes.
He said top priorities should include the domestic market,promoting trade, expanding and diversifying markets, improving product quality,and participating more deeply and widely in regional and global supply chains,striving for a sustainable trade surplus./.
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The Ministry of Planning and Investment (MPI) has proposed the government provide further support for Vietnamese small- and medium-sized enterprises (SMEs), including an interest rate reduction of another 2 percentage points per year.
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A road construction site in HCM City. (Photo: VNA) 
