Prime Minister Pham Minh Chinh has signed Official Dispatch No. 221/CD-TTg calling for continued efforts to maintain macroeconomic stability and promote exports.

Accordingly, the PM instructs ministries, agencies, and localities to take measures to stabilise the macro-economy, control inflation, and ensure key economic balances. Monetary, fiscal, and other macroeconomic policies must be harmonised and implemented effectively to support sustainable growth, according to the dispatch.

The State Bank of Vietnam has been tasked with adopting proactive and flexible monetary policies and directing credit flows towards production, business activities, priority sectors, and key growth drivers.

The Prime Minister also assigned the Ministry of Industry and Trade to implement strong solutions to boost exports during the year-end and Tet(the Lunar New Year) periods, including trade promotion, market and product diversification, and restructuring supply chains. The ministry should expedite negotiations and signing of bilateral and multilateral trade agreements with potential partners and continue negotiations on a reciprocal trade agreement with the United States.

The Ministry of Finance has been instructed to review import and export tariffs in line with international commitments and support production and exports. It will also strengthen quality control at border gates to prevent origin fraud and substandard goods.

Meanwhile, the Ministry of Agriculture and Environment was directed to step up efforts to combat illegal, unreported and unregulated (IUU) fishing, work to secure the lifting of the European Commission's “yellow card”, and accelerate negotiations to expand market access for Vietnamese agricultural products.

Source: VnEconomy