Vietnam collecting feasible solutions to boost production, trading, investment

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The Ministry of Planning and Investment yesterday held a meeting in Hanoi about current national economic status and practical measures to tackle problems in manufacturing, trading for the last 6 months of 2022.

Vietnam collecting feasible solutions to boost production, trading, investment  ảnh 1 VASEP proposed practical solutions to decrease logistics cost in the near future


In his opening speech, Minister of Planning and Investment Nguyen Chi Dung briefed the international economic-political status at present. He then asked representatives of participating businesses to comment on the effects of applicable support policies like VAT reduction (from 10 percent to 8 percent), environment tax reduction for fuel, housing rental fee support for laborers. They were also asked to analyze possible opportunities for manufacturing, trading expansion.

Chairman of Vietnam Tourism Association Vu The Binh stated that to promote the recovery of this industry in the near future, there must be new interesting tour packages to attract international tourists, along with favorable conditions to welcome them to Vietnam. He proposed a working session between the tourism and aviation industries to introduce the most reasonable prices for these new packages.

Deputy General Secretary of Vietnam Association of Seafood Exporters and Producers Nguyen Hoai Nam shared that the high fuel prices have created pressure on many businesses, and many fishermen have stopped their work. He suggested some solutions to reduce logistics cost, including digital transformation among member businesses, which was wholeheartedly welcomed by Minister Dung with the promise to support any needy enterprises in order to increase their competitiveness.

Vice Chairwoman of Vietnam Association for Supporting Industries Do Thi Thuy Huong expressed her concern on more burden to businesses when the regional minimum wage increase law comes to effect on July 1, while no e-business can enjoy benefits from policies on credit support for enterprises encountering trouble due to Covid-19 yet. She recommended that functional agencies create more favorable conditions for companies to access support policies of the government.

Deputy General Secretary Dau Anh Tuan – Head of the Legal Department in Vietnam Chamber of Commerce and Industry – commented on so many investigations and inspections, causing unwanted trouble to businesses which are trying to recover from the pandemic.

Deputy Minister of Planning and Investment Tran Quoc Phuong informed that all proposals from participants are collected to report to the Prime Minister for consideration to introduce the most feasible solutions for the last 6 months of 2022.

On the same day, the Transport Ministry held a meeting to find ways for cost reduction to support citizens when fuel prices show no sign of stabilization. These continuous price increases lately have negatively affected business operation as well as individuals in the society. Minister of Transport Nguyen Van The asked that in June, all departments and general departments review the chance of fee reduction or exemption to help the public and enterprises. These reductions will then be submitted to the Government for final approval.

By Anh Thu, Minh Duy – Translated by Yen Nhi

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