Hanoi (VNA) – Boosting publicinvestment disbursement is an important channel for the country’s socio-economicgrowth, Prime Minister Nguyen Xuan Phuc said at a meeting in Hanoi on March 27to prepare for a teleconference between the Government and localities on March31.

PM Phuc said nearly 30 billion USD of publicinvestment needs to be disbursed this year, including State budget capital andloans. In January-March, the amount of undisbursed capital was still bigdespite considerable efforts.

The PM ordered quick implementation of keyprojects and strict punishments for heads of ministries, departments andlocalities whose capital is disbursed slowly.

He said at the G20 leaders’ video conference onMarch 26, countries expressed their strong determination to recover the globaleconomy by implementing a number of stimulus packages.

Domestically, severe droughts and saltwaterintrusion in southern provinces, along with the African swine fever, avian flu,and particularly the COVID-19 pandemic are hitting all social aspects hard, thePM noted.

Facing the situation, it is necessary to hold anationwide teleconference to discuss four major issues: removing difficultiesfor business and production, especially the aviation and tourism industries;boosting public investment disbursement; ensuring social welfares in the faceof the unpaid leave and unemployment; and securing social order and safety.

Regarding the fiscal policy, the PM asked theMinistry of Finance to continue reviewing and extending the payments of landuse tax, increasing expenses for the fight against the COVID-19 pandemic,ensuring social welfares, and cutting unnecessary regular expenditures.

He tasked the ministry to work with the StateBank of Vietnam and the Ministry of Planning and Investment to seeksupplementary sources for the State budget.

Regarding monetary policies, the PM remindedmeasures to reduce interest rates and provide no-interest loans for businessesto pay for employees, as well as use part of the foreign exchange reserves tosupport the State budget in emergency cases, and study the launching of astimulus package from the Government bonds as proposed by ministries.

Pertaining to support for workers, PM Phucagreed with the proposal of the Minister of Labour, Invalids and Social Affairsto suspend social insurance premium payments according to law.

He agreed to provide direct assistance forworkers who had to stop their jobs and loans for businesses to pay salaries totheir employees without interest rates. The Ministry of Labour, Invalids andSocial Affairs will cooperate with the State Bank of Vietnam to implement thismeasure, he said.

The Government leader also ordered measures tosupport the private and State economic sectors facing difficulties at thistime. 

PM Phuc asked ministries and sectors to mullover solutions to support the real estate market - an important growth channel –with a focus on the social housing segment./.