The Prime Minister has just issued Resolution No.13/NQ-CP on socio-economic performance over the past seven months of 2012 and specific requirements in the coming time.
Further slashing lending interest rates
According to PM Nguyen Tan Dung, enterprises
now still face many difficulties. Industrial production index in July was only
54.5% compared to the corresponding period of last year. Purchasing power and
State budget collection were still low plus a slowdown on investment capital
disbursement. Whilst, the global economy has still encountered instabilities,
affecting the country’s socio-economic statue. 
Garment products being manufactured for export
The PM has asked for the State Bank of Vietnam to further slash lending interest rates to the reasonable level to stimulate credit growth, support economic growth and make favorable conditions for enterprises to get access to loans; restructure commercial banking system as stipulated by the law; deal with bad debts and weak banks; cooperate with the Ministry of Finance to urgently research measures to perfect the working mode of the Credit Guarantee Fund for Small and Medium-sized Enterprises (SMEs)…
The Ministry of Industry and Trade has also been ordered to team up with sectors, agencies and localities to actively foster domestic market; carry out promotional programs to promote production and trading; intensify trade promotion to promote export; work with the State Bank to give priority to providing credit support to key export products to increase export turnover; tighten control over goods import in accordance with international commitments, prevent and seriously deal with trade fraud, smuggling…
Deadline of VAT payment extended
Under the PM’s Resolution No.13, the Ministry of Planning and Investment has been instructed to coordinate with ministries and agencies to accelerate the disbursement of state budget capital, government bonds, ODA and foreign direct investment; worked with the People’s Committees of provinces and cities to prepare corresponding capital to ODA projects belonging to their responsibility…
The Government has also required ministries and agencies to further an effective fiscal policy in close combination with credit and monetary policies in a bid to beef up the total demand and maintain a reasonable inflation rate; boost the disbursement of state budget capital and government bonds…
In addition, the Ministry of Finance has been ordered to urgently research and put forward the extension of the deadline of VAT payment; coordinate with the State Bank to promote the effectiveness of the Credit Guarantee Fund for SMEs…
Reported by Thao Vy-Translated by K.T
