Insist on the goal of removing difficulties for people and businesses Minister Ho Duc Phoc


The meeting with voters
The meeting with voters

Fiscal policies managed flexibly and proactively

On the morning of May 9, Minister of Finance Ho Duc Phoc and the National Assembly Delegation of Binh Dinh Province had a meeting with voters in Phu My district, Binh Dinh Province.

At the meeting, Ms. Ly Tiet Hanh, Member of the Provincial Party Committee, Deputy Head of Binh Dinh Provincial National Assembly Deputies spoke about remarkable new points of the 5th session, the 15th National Assembly.

Voters of Phu My district sent many recommendations to the Binh Dinh Provincial National Assembly Deputies such as regimes for people with meritorious services; discrimination in the implementation of regimes for wounded and sick soldiers; addressing problems in the application of fire prevention and fighting standards; the repair and upgrading of reservoirs of irrigation works; supporting to build solid classrooms in the area or removing difficulties for urgent projects of people in the area; and solving problems of advertising dirty food on social networks.

Minister Ho Duc Phoc speaks at the meeting.
Minister Ho Duc Phoc speaks at the meeting.

On behalf of the deputies, Minister Ho Duc Phoc appreciated voters’ opinions, synthesized voters’ recommendations to send to the National Assembly and relevant authorities and agencies

The Minister said that in 2022 we met and exceeded many socio-economic targets. The economic growth reached 8.02%; CPI was controlled, increasing by 3.15% lower than the set target.

Along with that, state budget revenue achieved a high result of more than VND1.8 million billion, increasing VND403.8 trillion (28.6%) compared to the estimate. The Minister said the increase in state budget revenue will raise resources for investment in key infrastructure development, national security and other important tasks.

The Minister also affirmed that, in the context of difficulties, the Ministry of Finance has proposed to the Government to submit to the National Assembly for promulgation many fiscal policies aimed at socio-economic recovery and growth.

Over the past three years, the Ministry of Finance has actively researched, proposed and submitted to the competent authorities as well as promulgated according to its authority policies on taxes, fees, charges and land rent to support businesses and people affected by the Covid-19 pandemic, with a total value of more than VND 507 trillion. In which, the deferred amount is about VND352 trillion; and the exempted or reduced is about VND 155 trillion.

Fiscal policies have been managed proactively and flexibly, helping remove many difficulties for businesses and people, responding promptly to actual developments, positively contributing to macroeconomic stability, controlling inflation and boosting socio-economic recovery and development.

The Ministry of Finance has been making efforts to review and perfect financial policies

The Minister of Finance said that in 2023, in addition to the positive and favorable factors, it is forecast that there will still be many difficulties and challenges from the general adverse effects of the world economy.

In the context of Vietnam’s economy with great openness and deep integration, world economic fluctuations will certainly have a great impact on the recovery of the economy and the activities of businesses and people.

Therefore, the Ministry of Finance has been researching and submitting to competent authorities for promulgation or promulgating according to its authority policies to further support people and businesses.

Accordingly, the Ministry of Finance has reported to the Government to submit to the National Assembly to continue the policy on VAT reduction for goods and services currently enjoying the tax rate of 10% until the end of December 31, 2023; proposed to reduce 35 fees and charges from July 1, 2023 to the end of December 31, 2023, it is expected that the budget revenue will reduce by about VND 700 billion.

The Minister affirmed: “The Government and the Ministry of Finance will continue to insist on supporting people and businesses, therefore, we hope that all authorities, central and local agencies will focus on reforming administrative procedures, removing difficulties and obstacles for people and businesses to overcome difficulties, contributing to the economic growth. If businesses are strong, the economy will grow and thereby help raise budget revenue.

At the same time, he said, the Ministry will continue to make efforts to improve financial policies, continuously review policies to have timely advice to the Government to manage fiscal policy flexibly and proactively, in which, focusing on solutions on extending payment deadlines and reduction of many taxes, fees and charges.

Affirming that the disbursement of public investment capital according to the plan will lead to private investment, thereby promoting economic growth, the Minister said that he will implement solutions to accelerate the disbursement.

Minister Ho Duc Phoc: strengthening tax and customs reform Minister Ho Duc Phoc: strengthening tax and customs reform

At the meeting, Minister Ho Duc Phoc said that with the voters’ recommendations related to the fields of other ministries and agencies, the National Assembly deputies will synthesize recommendations to send to all relevant authorities and agencies.


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