RESOLUTION

ON SOCIO-ECONOMIC RECOVERY AND DEVELOPMENT PROGRAM AND IMPLEMENTATION OF RESOLUTION NO. 43/2022/QH15 OF NATIONAL ASSEMBLY ON FISCAL AND MONETARY POLICIES FOR SUPPORTING THE PROGRAM

GOVERNMENT

Pursuant to the Law on Governmental Organization dated June 19, 2015; Law on amendments to the Law on Governmental Organization and the Law on Local Government Organization dated November 22, 2019;

Pursuant to Conclusion No. 24-KL/TW dated December 30, 2021 of the Politburo on Socio-Economic Recovery and Development Program;

Pursuant to Resolution No. 43/2022/QH15 dated January 11, 2022 of the National Assembly on fiscal and monetary policies for supporting Socio-economic recovery and development program; Resolution No. 46/2022/QH15 dated January 11, 2022 of the National Assembly on the first extraordinary meeting of the 15^th National Assembly;

At the request of the Minister of Planning and Investment in document No. 669/TTr-BKHDT dated January 27, 2022 and document No. 717/BKHDT-TH dated January 28, 2022;

On the basis of the result of election of Government’s members.

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From the beginning of 2020, COVID-19 has complicated developments, comprehensively impacts our economy and severely affects many areas of social life and the ability to implement goals, targets and tasks of socio-economic development annually and in 5 years 2021-2025.

Implementing Conclusion No. 24-KL/TW dated December 30, 2021 of the Politburo, Resolution No. 43/2022/QH15 dated January 11, 2022 of the National Assembly, to partly bring the economy overcome difficulties soon, catch pace with the global economic recovery process and at create a foundation and favorable conditions for socio-economic development for the whole period of 2021-2025 and the following years, improve efficiency , labor productivity, competitiveness, internal capacity and autonomy in the medium and long term, the Government unanimously directed all levels, central authorities and local authorities to focus on implementing the and socio-economic Development and Recovery Program (hereinafter referred to as “the Program”) and the main policies to implement the Program as follows:

I. VIEWPOINTS, OBJECTIVES, OBJECTS AND TIME

1. I. VIEWPOINTS

a) Complying with the Communist Party's guidelines and orientations, the National Assembly's Resolutions, maintaining the macroeconomic stability, improving the productivity, quality, effectiveness, competitiveness, self-control and adaptability of the economy, promptly meeting the immediate and long-term socio-economic development requirements, closely linking with the socio-economic development plan in the five-year period of 2021 – 2025, the annual socio-economic development plans, the economic restructuring plan for the period of 2021 – 2025, the plan for national finance, loaning and repayment of public debts in the period of 2021 – 2025, the medium-term public investment plan for the period of 2021 – 2025 and the anti-COVID program (2023 – 2023).

b) Flexibly operating and closely, harmoniously and effectively cooperating in fiscal, monetary and other macro policies; strictly controlling inflation, ensuring major balances of the economy; only increasing the State budget deficit to increase expenditure on development investment and ensuring the State budget balance when implementing tax exemption and reduction solutions to support the Program.

c) Policies on support for the Program are large enough to stimulate both the demand and the supply; are targeted and determined to support proper entities to solve urgent problems, avoid spreading and wastefulness of resources associated with responsibilities of Ministries, central authorities, local authorities and relevant organizations and individuals, especially their heads.

d) Policies and solutions must be feasible, prompt, effective and must be implemented within 2 years 2022 and 2023 with an appropriate roadmap in order to improve the capacity of preventing and combating COVID-19, recovering and developing socio-economic activities; resources for disbursement and quick absorption; in case of necessity to amend, supplement or promulgate new legal documents, the simplified order and procedures shall be implemented.

dd) Mobilizing, allocating, managing and using resources in an effective manner; ensuring the rational balance between regions, areas and entities given priority; easily implementing, examining, supervising and assessing; preventing negative practices, corruption, groups of benefits or policy beneficiaries; ensuring effectiveness, fairness, publicity and transparency.

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a) Restoring and rapidly developing business and production, stimulating growth motives, giving priority to several important industries and fields, striving to achieve objectives in the 2021 – 2025 period: the average GDP growth rate will be 6.5 – 7%/year, the public debt indicators will be below the warning level that the National Assembly gives its permission to achieve by the National Assembly's Resolution No 23/2021/QH15, the unemployment rate in urban areas is below 4%; maintaining the macro-economic stability and ensuring the major balances in medium and long term.

b) Reducing costs, supporting cash flow, ensuring the proactiveness and creating favorable conditions for enterprises, economic organizations and people.

c) Effective preventing and controlling of COVID-19; ensuring social security and people's life, especially workers, the poor, weak people and people heavily affected by COVID-19; ensuring national defense, security, social order and safety.

3. Beneficiaries and duration

a) Entities eligible for support (beneficiaries) include:

- People, workers affected by the COVID-19;

- Enterprises, cooperatives and household businesses;

- Industries and fields creating motives for recovery and development of the economy.

b) Duration of support is mainly in a 2-year period of 2022-2023; Some policies may be prolonged or their resources may be added depending on developments of the epidemic.

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1. Open the economy in association with investment in improving the health capacity and Covid-19 prevention and control

a) Promulgate and effectively and promptly implement the anti-covid Program (2022-2023); continue to guide and implement the roadmap for reopening tourism and air transport, art, culture and entertainment in association with assurance of disease-free status.

b) Continue reviewing, adjusting and supplementing regulations on guiding and intensifying organization of implementation, examination, supervision and uniformly implementing regulations on workers movement, goods and service circulation and safe production, maintaining stable and continuous operation with proper capacity and costs; bring into play the effectiveness of the population database in epidemic control and implementation of policies.

c) Concentrate on speeding up the implementation and disbursement of investment projects on building, renovating and upgrading medical treatment facilities in necessary places, concentrate on raising the quality and effectiveness of services of the foundation health system; increase preventive medicine capacity and regional disease control centers; increase the anti-covid capacity of central institutions and hospitals in association with training and raising the quality of human resources in healthcare, domestic production of vaccines and drugs for COVID-19 treatment to meet requirements for COVID-19 prevention and control.

2. Ensure social security and employment support

a) Support three months rents for workers who are working in labor relations, renting houses/ accommodation or working in industrial parks, export processing zones or key economic zones, of which the support level is VND 1 million/month for workers who return to work and VND 500.000/month for workers who are working in enterprises. Implementation duration is within the first 6 months of 2022.

b) Continue reviewing, studying and adopting policies to promptly support people and workers who face difficulties caused by COVID-19.

c) Effectively implement policies on preferential loans by Vietnam Bank for Social Policies:

- Policy on loans applied for job creation, maintenance and extension as prescribed in Decree No. 61/2015/ND-CP dated July 9, 2015, Decree No. 74/2019/ND-CP dated September 23, 2019 and relevant documents. The total loan capital is up to VND 10.000 billion.

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- Policy on loans applied for purchase of computers, online learning equipment and cover for learning costs for pupils and students. Policy on loans applied for job creation, maintenance and extension as prescribed in Decree No. 61/2015/ND-CP dated July 9, 2015, Decree No. 74/2019/ND-CP dated September 23, 2019 and relevant documents. The total loan capital is up to VND 3.000 billion.

- Policy on loans applied for execution of the national target Program for socio-economic development in ethnic minority and mountainous areas for the period of 2021-2030 under Resolution No. 88/2019/QH14 and the Resolution No. 120/2020/QH14 of the National Assembly. The total loan capital is up to VND 9.000 billion.

- Policy on loans applied for non-public preschools or primary schools that are suspended for at least 01 month to meet anti-covid requirements. The total loan capital is up to VND 1.400 billion.

- Policy on subsidy on interest rate and management cost of up to VND 2.000 billion to arrange concessional loan under the Program according to the mechanism for subsidization of interest rates and management cost specified in the Vietnam Bank for Social Policies’ financial management regulation.

d) Support loan interest of 2% in the 02-year period of 2022-2023 for loans with interests of more than 6% per year disbursed by the Vietnam Bank for Social Policies in the period of 2022-1013. Total interest support capital is up to VND 3.000 billion.

dd) Continue refinancing to the Bank for Social Policies for lending to employers for payment of furlough and production recovery wages and ensuring its feasibility and quick implementation.

e) Invest in reinforcing the connection between the national labor supply and demand on the online foundation to serve the job consultancy and recommendation and labor supply; building, renovating, upgrading, expanding and modernizing vocational training and job creation facilities, especially a high quality college, and carrying out the digital transformation in the field of occupational education; raise capacity of first-line facilities in the system of social assistance facilities to care for people undergoing traumatic events, street homeless people and vulnerable people affected by COVID-19.

g) Equip tablet computers according to the “Sóng và máy tính cho em” Program from the Vietnam Public-Utility Telecommunication Service Fund (VTF), ensuring publicity, transparency, proper entities and efficient use. Total funding is up to VND 1.000 billion.

3. Support recovery of enterprises, cooperatives and household businesses

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- In 2022, a 2% VAT reduction applies to certain groups of goods and services which were previously subject to 10% VAT (to 8%) for business facilities using VAT credit-invoice method and a 20% reduction in the percentage used as the basis for VAT calculation applies to business facilities, business households and individuals using the VAT direct method, except for some groups of goods and services such as telecommunications, information technology, operation of finance, banking, securities, insurance, real estate business, metals, prefabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products, goods and services subject to excise tax.

- 50% reduction in environmental protection tax on aviation fuel is applied according to Resolution No. 13/2021/UBTVQH15 dated December 31, 2021 of the Standing Committee of National Assembly.

- Include contributions and donations of enterprises and organizations to Covid-19 prevention and control activities in Vietnam in deductible expenses of the tax year 2022..

- 30% reduction in land rent and water surface rent in 2022 is applied to organizations, units, enterprises, households and individuals that are directly leasing land from the State under decisions or contracts or certificates of land use rights and rights to ownership of house and other properties associated with the land issued by competent state authorities via the method of land lease with annual rental payment and have to suspend production or business due to COVID-19.

- The export and import tax rates are prescribed in Decree No. 101/2021/ND-CP dated November 15, 2021 and relevant documents.

- 50% deduction of the registration fee for domestically manufactured and assembled motor vehicles is applied according to Decree No. 103/2021/ND-CP dated November 11, 2021.

- Continue reviewing and deducing fees and charges in order to support and solve difficulties caused by the COVID-19 to affected entities.

b) Extend deadlines for payment of corporate income tax, personal income tax, value-added tax, excise tax and land rent in 2022.

c) Support interest of 2% per year in the 2-year period of 2022-2023 via the commercial bank system to enterprises, cooperatives and business households which are capable of repaying debts and recovering in aviation, warehousing transport; tourism, accommodation, food and drink, education and training; agriculture, forestry and fisheries; processing and manufacturing industry (including machinery, equipment, medicines, pharmaceuticals and herbal materials); software production; computer programming and related activities; information services; loans on renovation of old condominiums, construction of social houses and houses for purchase, lease and lease-purchase by workers.

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d) Research in maintaining the maximum rate of short-term capital used for medium- and long- term loans, reasonably calculating the reserve requirement, carrying out the open market operation, refinancing, instructing credit institutions to continue to reduce the operation cost to reduce the loan interest by 0.5% - 1% in the 2-year period of 2022 - 2023, especially in the prioritized sectors.

dd) Continue restructuring time limit for debt payment, exempt or reduce loan interest and keep intact debt groups for customers affected by COVID-19, closely monitor developments of economy, monetary market to have suitable solutions to support for enterprises, the people and ensure safety for operation of system of credit institutions.

e) Increase in authorized capital by using net profits after taxes and after setting funds aside for the period of 2021 – 2023 for joint-stock commercial banks more than 50% of charter capital of which is held by the State, and by using the state budget allocation for the Bank for Agriculture and Rural Development.

g) Review and amend regulations on solving difficulties in regulations on disbursing and managing the science and technology development fund of enterprises; facilitate technological innovation, technology incubation, science and technology enterprise incubation, commercialization of findings on scientific research and technological development applicable to enterprises; reverse engineering; purchase equipment, machinery and raw materials for innovating technology and directly serving business operation of enterprises.

h) Continue researching in deduction from electricity and water charges for enterprises and people.

4. Invest in development of infrastructure

a) Concentrate capital on important and urgent projects which have great pervasive influence, have capability of quick disbursement and absorption in the economy, are conformable with the planning, effectively use capital sources, ensure capital balance to complete projects in the period of 2022 – 2025; prioritize support for site clearance for some new projects which have significance with socio-economic development.

Strive to complete soon the entire eastern North-South expressway, roads linking the northern mountainous region and the Central Highlands with Central Vietnam, express ways in the southeastern region and the Mekong River delta; transport infrastructure linking regions, seaports, border gates, industrial parks and clusters; digital transformation; healthcare and social infrastructure; labor-employment; river bank and coast landslide prevention and control, reservoir safety assurance, adaptation to climate change and remedies for consequences of natural disasters.

Selection and allocation of funds to projects of the Program must ensure that funds of the Program are disbursed in the 2-year period of 2022-2023, adhere to the principles and criteria specified in point dd1.2 clause 1 Article 3 of the National Assembly's Resolution No. 43/2022/QH15.

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c) Effectively use resources of the VTF to invest in developing telecommunication and internet infrastructures.

5. Reform institutions, reform administration and improve investment and business environment

a) Promptly formulate and submit for promulgation according to schedule, ensure quality of documents elaborating and guiding implementation of Laws and Resolutions in the second meeting and the first irregular meeting of the 15^th National Assembly.

b) Continue reviewing and removing institutional, structural, policy-related and regulatory barriers to business and production; accelerate the roadmap to reduce and simplify administrative procedures and improve business environment and investment climate; strengthen the handling of administrative procedures on the online foundation; continue studying and implementing breakthrough solutions, encouraging innovation, digital transformation and developing digital economy, green economy and circular economy in association with sustainable development; promptly research and remove difficulties related to structure, policies, laws, planning and land fund related to social housing and workforce housing.

c) Concentrate on raising capabilities of state management, social governance, qualifications and capabilities of officials at all levels; intensify supervision and examination and strictly handle violations.

d) Synchronously and flexibly regulate monetary policy tools, closely cooperate with fiscal policy and other macro-economic policies in supporting actively the process of recovering and developing economy and society but not be subjective with inflation risk, maintain macro-economic stability and credit institution system safety.

dd) Strictly monitor macro indicators to have promptly solutions to ensure macroeconomic stability and major balances, especially the inflation rate and bad debt ratio; strive to increase revenues, save expenditures, reduce budget deficit to achieve targets specified in the Plan on National Finance, public debt loan and repayment for the 5-year period of 2021-2025; in case of fluctuations or major risks, promptly report to competent authorities for consideration and decision. Balance the Program's monetary measures with general plan on restructuring banks under special control.

III. RESOURCES FOR IMPLEMENTATION OF THE PROGRAM

1. Allocate resources for implementation of disbursement tasks of the Program according to regulations prescribed in Article 3 of Resolution No. 43/2022/QH15 of the National Assembly. To be specific:

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- Reduce up to VND 64.000 billion of tax, fees and charges as prescribed in point 3a section II hereof.

- Directly disburse up to VND 176.000 billion from the state budget to invest in development of:

Set up to VND 14.000 billion to invest in building, renovating and upgrading medical treatment facilities in necessary places, raise the service quality of the foundation health system; increase preventive medicine capacity and regional disease control centers; increase the anti-covid capacity of central institutions and hospitals in association with training and raising the quality of human resources in healthcare, domestic production of vaccines and drugs for COVID-19 treatment.

Grant up to VND 5.000 billion to the Vietnam Bank for Social Policies, including: (i) Supplement interest rate and management costs of up to VND 2.000 billion to implement the concessionary loan policy to execute the Program according to the structure specified in the Regulation on financial management of the Vietnam Bank for Social Policies; (ii) support the interest rate (2%/year) of up to VND 3.000 billion as prescribed in point 2d section II hereof.

Invest in building, renovating, upgrading, expanding and modernizing vocational training facilities, social support facilities and job creation facilities of up to VND 3.150 billion.

Support the interest rate (2%/year) of up to VND 40.000 billion via the commercial bank system as prescribed in point 3c section II hereof.

Grant the authorized capital of up to VND 300 billion to the Tourism Development Fund.

Supplement up to VND 113.550 billion of investment capital of the state budget to develop infrastructure: traffic, information technology, digital transformation, prevention and control of river shore and sea shore erosion, assurance about safety of reservoirs, adaptation to climate change and remedy for disasters.

b) Use about VND 6.600 billion of the revenue growth and expenditure saving resources of central government budget in 2021 to support rents to workers according to point 2a section II hereof.

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d) Increase the government guarantee limit for domestic bonds of the Vietnam Bank for Social Policies of up to VND 38.400 billion, including VND 19.000 billion in 2022 for loans under point 2c section II of this Resolution.

dd) Use up to 46.000 billion of other legal financial sources to import vaccines, treatment medicines and medical equipment and supplies for prevention and control of COVID-19 in necessary cases.

e) Use about VND 5.000 billion of the Vietnam Public-Utility Telecommunication Service Fund for development of telecommunications and Internet infrastructure, of which VND 1.000 billion will be used to equip tablet computers to execute the “Sóng và máy tính cho em” program.

g) Use about VND 5.000 billion for technological innovation, technology incubation, science and technology business incubation, commercialization of findings on scientific research and technological development; technology decryption; acquisition of equipment, machinery and raw materials for technological innovation to serve business/production of enterprises.

2. Mobilize resources to execute the Program on the basis of making the most use of available resources, revenue growth and expenditure saving sources of the central government budget and disbursement capacity to make appropriate plans for mobilizing sources by time-period via:

a) Issuance of Government bonds, assurance about the principle of close cooperation in the administration of monetary policy, fiscal policy and other macro policies, maintenance of stability of macro-economy, financial and monetary market and assurance about major balances; adaption to the solvency, disbursement and absorption ability of the economy to ensure the effectiveness and avoid waste. Priority is given to domestic issuance of Government bonds in local currency, average duration of bonds may be shorter than 9 years in the 02-year period of 2022 - 2023. In case of necessity to issue foreign currencies, the Government shall report such to competent authorities for consideration and decision before applying them;

b) Official development assistance (ODA) loans, external concessional loans in the form of budget balance;

c) Loan from other appropriate lawful financial sources and repayment of them when having financial sources in the annual financial-state budget plan or other financial sources as prescribed in necessary cases; permission to directly issue Government bonds to the State bank of Vietnam.

IV. ORGANIZING IMPLEMENTATION

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a) Focus on the implementation of relevant tasks and solutions prescribed in this Resolution; proactively and promptly provide specific instructions for implementation in case of necessity.

b) Monitor, evaluate and supervise results of implementation of the Program by sectors and fields under their management; before the end of August 2022, August 2023 and April 2024, periodically submit reports to the Ministry of Planning and Investment for aggregation and submission to the Government and the Prime Minister and the National Assembly on the results of implementation of the Program.

c) Raise awareness of their responsibilities, especially responsibilities of heads for controlling and directing organization of implementation of contents and policies prescribed in this Resolution. Expeditiously work out specific programs and action plans and direct authorities, units, officials, public employees and employees under their management to implement these programs and plans; properly guide, disseminate and mobilize the business community and people to implement mechanisms, policies and solutions specified in this Resolution; eliminate bureaucracy, harassment of the people and enterprises; take the initiative in cooperating with relative ministries and authorities in solving arising problems. Regularly supervise, inspect and urge implementation and have strictly handling measures for collectives and individuals causing difficulties and harassing the people and enterprises, stagnating and lacking responsibilities in implementation of their assignments.

2. The Ministry of Planning and Investment shall

a) Monitor, consolidate and evaluate results of implementation of the Program, propose revisions to policies and solutions (if necessary), present them to Government and Prime Minister for consideration and decision, report them to the National Assembly in the final sessions of 2022 and 2023 and generally report in the mid-year session of 2024.

b) Strictly monitor the situation of implementation and promptly report it to the Government and Prime Minister, propose tasks and solutions to maintain stability of macro-economy and major balances of the economy.

c) In the period of implementation of the Program, in necessary cases, as for contents under competence of each authority, take charge and cooperate with the Ministry of Finance and relevant ministries and authorities, report these cases to the Government and Prime Minister to adjust flexibly among expenditure tasks of the Program or report them to competent authorities for consideration and decision; in urgent cases, in the recess of two National Assembly sessions, report these urgent cases to competent authorities for submission to the National Assembly Standing Committee for consideration, decision and report them to the National Assembly in its nearest session.

d) On the basis of the list of projects specified in Report No. 01/BC-CP and Statement No. 02/TTr-CP dated January 02, 2022, reported to the National Assembly by the Government in the first irregular meeting session of the 15^th National Assembly, results from review and proposals of ministries, central and local authorities, be responsible for compiling lists of tasks, projects and plans for capital allocation in the 02-year period of 2022-2023 and in each year 2022 or 2023 of the Program; before February 20, 2022, report them to the Prime Minister for considering, deciding and authorizing the Minister of Planning and Investment to inform the overall capital amount, detailed list and estimated capital amounts for each task and project of each Ministry, central or local authority as the basis for expeditious completion of investment procedures as prescribed.

dd) Take charge and cooperate with the Ministry of Finance in compiling tasks and projects of the Program that have completed investment procedures, conditions for assigning capital plans and developing plans for allocation and estimate of the state budget for 2022 expenditure tasks of the Program, and report them to the Government and the Prime Minister in the first quarter of 2022

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g) On the basis of actual capacity and situation of implementation of tasks and projects of the Program, proposals of Ministries, central and local authorities, take charge and cooperate with the Ministry of Finance in developing plans for flexibly adjusting public investment capital sources of the Plan for medium-term public investment in the period of 2021-2025 and public investment capital sources of the Program in the period of 2022-2023, report them to the Government and the Prime Minister for consideration and decision within their competence.

h) Take charge and cooperate with relevant ministries and authorities in implementing particular mechanisms prescribed in Article 5 of Resolution No. 43/2022/QH15 of the National Assembly on appointment of contractors in 2022 and 2023 for consultancy contract packages and serving contract packages for relocation of technical infrastructure, contract packages for compensation, site clearance and relocation, contract packages for construction and installation of national important projects and major and urgent projects on traffic and healthcare infrastructure of the Program:

- Supply instructions to ministries and authorities for considering and deciding cases of direct appointment of contractors under competence of ministries and authorities in the first quarter of 2022.

- Verify and appeal to the Prime Minister for considering and deciding cases of direct appointment of contractors under competence of the Prime Minister.

Contractors shall execute contract packages prescribed in this clause until completing their projects Procedures for implementation of direct appointment of contractors shall be prescribed by laws on bidding.

i) Take charge and cooperate with the Ministry of Transport in appealing to the Prime Minister in the first quarter of 2022 for consideration of and decision to decentralization of the People's Committees of provinces having sufficient capacity and experience to manage and having written proposals to be a governing body implementing expressway sections under the form of public investment going across provinces that the Program is executed (except for the Eastern North – South expressway project in the period of 2021 – 2025 under the management of the Ministry of Transport acting as the governing body) on the basis of use of the maximum capacity of the Ministry of Transport. The governing body prescribed in this clause may implement expressway sections until completing its project.

k) Take charge and cooperate with the Ministry of Transport and local authorities in reviewing and developing the list and estimated capital amounts of the Program allocated to each task or project in the 02-year period of 2022-2023 and in each year of the period for traffic projects under management of local authorities, report the Government and Prime Minister considering and deciding under their competence.

l) Cooperate strictly with the State Bank of Vietnam in developing and appealing to the Government to promulgate a Decree on guidelines for implementation of interest support from the state bank for enterprises, cooperatives and household businesses in some industries or fields prescribed in point 3c section II hereof.

3. The Ministry of Finance

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- The Ministry of Finance shall strictly manage revenues, strive to increase revenues, reduce budget deficit, thoroughly economize state budget expenditure, especially public service expenditure with investment nature; accelerate the tax reform, prevention of loss of revenues, transfer of pricing, tax evasion, reduction of tax arrears; modernize tax system, customs, state treasury, implement electronic invoices, take advantage of the surplus of state budget revenue growth, especially the surplus of revenue growth for cross-border digital transactions and digital services provided for consumers in Vietnam; withdraw the regular expenditures that are slow to be allocated and implemented.

- The Ministry of Finance shall flexibly use appropriate mechanisms, policies and instruments to mobilize more internal and external resources to execute the Program; report plans for increase of excise taxes for some goods that need to limit consumption to competent authorities to be promptly applied in the period of implementation of the Program;

- The Ministry of Finance shall cooperate with ministries, central and local authorities in boosting the equitization and divestment of state capital in state-owned enterprises; actively reviewing non-state budget financial funds, sources of capital from trade unions and socio-political organizations, the investment capacity of State Capital and Investment Corporation (SCIC) to propose appropriate capital raising and use plans; doing researches on solutions for raising capital entrusted from local government budget to VBSP.

- The Ministry of Finance shall take charge and cooperate with the Ministry of Planning and Investment, appeal to the Prime Minister to decide the raising of ODA capital and external concessionary loan in the form of budget support.

- The Ministry of Finance shall take charge and cooperate with the State Bank of Vietnam in reporting in reporting competent authorities deciding plans for issuing Government bonds in foreign currency and plans for mobilizing from other appropriate lawful financial sources; submit them to the Prime Minister for consideration of and decision on directly issuing Government bonds to the State bank of Vietnam.

b) Flexibly use capital sources mobilized for the Program and capital sources mobilized under the 5-year and annual plan on national finance, public debt loan and payment; ensure sufficient and prompt allocation of funds for expenditure tasks of the state budget in general and of the Program in particular.

c) Strictly monitor criteria in the plan on national finance, public debt loan and payment for the 05-year period of 2021-2025; In cases of big fluctuations or risks, assume reporting and present reports to the Government or the Prime Minister to promptly report competent authorities considering and deciding.

d) Cooperate with the Ministry of Planning and Investment in compiling tasks and projects of the Program that have completed investment procedures, conditions for assigning capital plans and developing plans for allocation and estimate of the state budget for 2022 expenditure tasks of the Program, and report them to the Government and the Prime Minister in the first quarter of 2022.

dd) Take charge and cooperate with the Ministry of Health and the State Bank of Vietnam in reporting the use of other legal financial sources to import vaccines, treatment medicines and medical equipment and supplies for prevention and control of COVID-19

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g) Appeal to the Government and Prime Minister to promulgate documents elaborating implementation of tax exemption or reduction policies under Resolution No. 43/2022/QH15; prescribing reduction of land rent and extension of tax and land rent payment duration according to points 3a and 3b section II hereof.

h) Cooperate strictly with the State Bank of Vietnam in developing and appealing to the Government to promulgate a Decree on guidelines for implementation of loan interest support from the state bank for enterprises, cooperatives and household businesses in some industries or fields prescribed in point 3c section II hereof.

i) Take charge and cooperate with the State Bank of Vietnam and relevant authorities in appealing to the Government to promulgate a Decree on guidelines for implementation of interest support for the VBSP in the first quarter of 2022.

k) Review and develop a list and estimated capital amount of the Program allocated to each task or project in the 02-year period of 2022-2023 and in each year of the period under its management and submit them to the Ministry of Planning and Investment for consolidation before February 15, 2022.

l) Take charge and cooperate with the Ministry of Education and Training and relevant authorities, appeal to the Prime Minister to promulgate a Decree on student loan to buy computer serving online learning due to the COVID-19 in February 2022.

m) Promptly amend contents in fields of its management prescribed in Circular No. 12/2016/TTLT-BKHCN-BTC dated June 28, 2016 in the first quarter of 2022 to promptly resolve difficulties during the period of use of Science and Technology Development Funds of enterprises.

4. The State Bank of Vietnam shall

d) Synchronously and flexibly regulate monetary policy tools to partly maintain macro-economic stability, control inflation and ensure credit institution system safety and support actively to socio-economic recovery and development; implement solutions to handle bad debts of the credit institution system.

b) Direct credit institutions to continue to reduce the operation cost to strive to reduce the loan interest by 0.5% - 1% in the 2-year period of 2022-2023, especially for prioritized fields.

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d) Research in implementing policies on extension of duration of restructuring deadlines for debt payment, loan interest deduction or exemption and retention of debt categories for borrowers affected by COVID-19 in necessary cases.

dd) Properly regulate currency, closely cooperate in fiscal policy, enable the issuance of Government bonds and enable credit institutions to invest continually in Government bonds.

e) Cooperate with the Ministry of Finance and the Ministry of Health in using other lawful financial sources to meet needs for importing vaccines, curative medicines, medical equipment and supplies for the prevention and control of COVID-19.

g) In the first quarter of 2022, take charge and strictly cooperate with the Ministry of Finance and the Ministry of Planning and Investment in appealing to the Government for promulgating a Decree guiding implementation of loan interest rate assistance from the state budget for enterprises, cooperatives and business households according to point 3c section II hereof; and, on that basis, issue a Circular guiding commercial banks to implement this Decree.

h) Take charge and cooperate with relevant ministries and central authorities in appealing to the Government to promulgate a Decree on preferential credit policies for implementation of the national target program for socio-economic development in ethnic minority and mountainous areas for the period of 2021-2025 in the first quarter of 2022.

i) Take charge and cooperate with the Ministry of Finance in appealing to the Prime Minister to consider and decide plans for increasing the charter capital from profits after tax and after allocating funds for the 2021 – 2023 period to joint-stock commercial banks that more than 50% of the charter capital of which is held by the State.

k) Take charge and cooperate with the Ministry of Finance in appealing to the Government to review and report plans for increasing the charter capital of the Bank for Agriculture and Rural Development from the state budget in the first quarter of 2022 to the National Assembly.

5. Ministry of Industry and Trade

a) Closely monitor domestic trade, import and export and trade balance, balance energy, promptly promulgate or propose competent authorities to issue solutions to balance and harmonize goods trade and energy security in order to assist economic recovery and development.

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c) Cooperate with the Ministry of Labor – War Invalids and Social Affairs in reviewing and formulating lists and expected capital amounts of the Program allocated to each task and project in the 2-year period of 2022-2023 and in each year of the period under its management.

6. Ministry of Health

a) Closely and effectively cooperate with ministries, central and local authorities in continually reviewing, instructing and implementing medical measures in a safe manner and in conformity with the reality and roadmap for opening tourism and air transportation, entertainment, cultural and art services in association with the disease-free assurance; review, revise and supplement regulations on instructing and strengthening inspection, supervision and organization of implementation, ensure the consistent implementation of provisions on movement of employees, circulation of goods and services, safe production and continually and stably maintenance of operations with the appropriate capacity and cost.

b) Take charge and cooperate with authorities in developing plans and implementation roadmaps for assurance about the supply of vaccines, curative medicines and equipment and supplies for the prevention and control of COVID-19 in a prompt and effective manner.

c) Take charge and cooperate with ministries, central and local authorities in reviewing and formulating lists and expected capital amounts of the Program allocated to each health task and project in the 2-year period of 2022-2023 and in each year of the period, and send them to the Ministry of Planning and Investment for aggregation before February 15, 2022.

7. Ministry of Labor, War Invalids and Social Affairs

a) Take charge and cooperate with relevant local authorities in formulating and appealing to the Prime Minister to promulgate a decision on rent support for employees as prescribed in point 2a section II hereof in February 2022.

b) Make a summary and assessment of policies on assisting the people and employees affected by the Covid-19 epidemic; propose and report them to competent authorities for consideration and continued implementation of prompt assistance policies for the people and employees affected by the Covid-19 epidemic. For policies on assistance with loan and payment of furlough salary, pay salary for production recovery to employees, carry out an assessment of the implementation result, report it to the Prime Minister in February 2022 for review and further implementation of these policies in accordance with point 2d section II hereof.

c) Take charge and cooperate with ministries, central and local authorities in reviewing and formulating lists and estimated capital amounts of the Program allocated to each task and project in the 2-year period of 2022-2023 and in each year of the period applicable to facilities of social assistance, training, vocational training and job creation, and projects on digital transformation and information technology under their management, and send them to the Ministry of Planning and Investment for consolidation before February 15, 2022.

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9. The Ministry of Transport shall review and develop lists and estimated capital amounts of the Program allocated to each task and project in the 2-year period of 2022-2023 and in each year of the period applicable to traffic projects under its management, and send them to the Ministry of Planning and Investment for aggregation before February 15, 2022.

10. c) The Ministry of Agriculture and Rural Development shall take charge and cooperate with ministries, central and local authorities in reviewing and formulating lists and estimated capital amounts of the Program allocated to each task and project in the 2-year period of 2022-2023 and in each year of the period applicable to projects on investment in prevention and control of riverbank and seashore landslides, assurance about reservoir safety, adaptation to climate change and natural disaster recovery, and digital transformation and information technology projects under their management, and submit them to the Ministry of Planning and Investment for consolidation before February 15, 2022.

11. Ministry of Culture, Sports and Tourism

- Actively take charge and cooperate with the Ministry of Health, ministries, local authorities in formulating, considering and deciding plans on opening international tourism, entertainment, cultural and art services under their competency according to a proper and safe roadmap.     

- Review and develop lists and estimated capital amounts of the Program allocated to each task and project in the 2-year period of 2022-2023, and in each year of the period under its management of digital transformation and information technology, allocate charter capital to the Tourism Development Assistance Fund, and send them to the Ministry of Planning and Investment for consolidation before February 15, 2022.

12. Ministry of Information and Communication

a) Take charge and cooperate with the Ministry of Education and Training and relative ministries, central and local authorities in equipping tablet computers according to the Program “Sóng và máy tính cho em” from the Vietnam Utility Telecommunications Service Fund.

b) Formulate plans and decisions within its competence on assistance in development investment of telecommunications and Internet infrastructure from the Vietnam Utility Telecommunications Service Fund in the first quarter of 2022.

c) Review and develop lists and estimated capital amount of the Program allocated to each task and project in the 02-year period of 2022-2023 and in each year of the period under its management of digital transformation and information technology and submit them to the Ministry of Planning and Investment for consolidation before February 15, 2022.

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dd) Cooperate with the Central Propaganda Commission in directing comprehensive information about the prevention and response to epidemics and socio-economic development via domestic and foreign communication channels; promptly prevent, respond to, and take strict actions against the information that is harmful, false, incite, and negatively affect the prevention and control of epidemics, recovery and socio-economic development. Ensure online connection for thorough direction from the central government to each commune, ward and town.

13. The Ministry of Construction shall take charge and cooperate with the State Bank of Vietnam, the Ministry of Planning and Investment, the Ministry of Finance, the Vietnam Bank for Social Policies, and other ministries, central authorities and local authorities in focusing on solving problems in mechanisms, policies, laws, effectively implementing policies to support social housing, housing for workers; renovating and rebuilding old apartments.

14. The Ministry of Science and Technology shall promptly amend contents in fields of its management prescribed in Circular No. 12/2016/TTLT-BKHCN-BTC dated June 28, 2016 in the first quarter of 2022 to promptly resolve difficulties during the period of use of Science and Technology Development Funds of enterprises.

15. The Ministry of Education and Training shall take charge and cooperate with the Ministry of Health and local authorities in prescribing standards, requirements and procedures for opening schools in a safe, scientific, appropriate and effective manner under their competence; take charge and cooperate with the Ministry of Finance and Vietnam Bank for Social Policies and relative authorities in appealing to the Government of Vietnam to promulgate a Decision on requirements, procedures and loan interest rate for non-public primary school and pre-schools in the first quarter of 2022.

16. The Vietnam Bank for Social Policies

a) Expeditiously execute concessional loan programs for priority entities of the Program. For the purpose of effectively promoting resources, and on the basis of the reality situation, the Vietnam Bank for Social Policies shall flexibly adjust annual capital sources from tasks with low implementation progress to tasks with faster implementation progress and have comprehensive responsibility before the Government of Vietnam and the Prime Minister of Vietnam.

b) Summarize funding demands for subsidization of interest rates and management cost to implement policies of the Program in the 2-year period of 2022-2023 and in each year of the period, submit the Ministry of Planning and Investment to consolidate before February 15, 2022. Implement finalization of the interest offset and management cost for the Program under policy management regimes for Vietnam Bank for Social Policies.

c) Develop Projects on issuance of Government-guaranteed bond, submit an application for issuance of guarantee to the Ministry of Finance in order to appeal to the Prime Minister of Vietnam to approve and issue the Government guarantee to Vietnam Bank for Social Policies and organize issuance and management of the capital source for issuance of Government-guaranteed bond according to regulations of laws on issuance and management of the Government guarantee and Resolution No. 43/2022/QH15 of the National Assembly.

d) Separately monitor outstanding loans of preferential credit programs mentioned in point 2c section II of this Resolution.

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Effectively and consistently execute the Program on COVID-19 prevention and control (2022-2023); flexibly and effectively apply anti-covid measures to reduce effect on production and business; carry out production and business methods which are safe and adapt to different disease situations to thoroughly maintain production and business amid the Covid-19 epidemic.

b) Strengthen thorough review and propose removal of institutional barriers and legal regulations that hinder production and business; accelerate the roadmap for cutting, simplifying administrative procedures, improving the business investment environment issued; strengthen settlement of administrative procedures on the online platform; research and implement breakthrough solutions, encourage innovation, digital transformation, digital economy, green economy, circular economy associated with rapid recovery and sustainable development.

c) Local authorities shall study and propose competent authorities to continue supporting enterprises and people at appropriate times; allocate funds to implement policies of the Program under their management of local budgets.

d) Proactively develop specific solutions and policies of industries, fields and regions in order to quickly recover and sustainably develop the economy.

dd) Strengthen exploitation of national databases on population for policy-making purposes; build e-government; carry out administrative reform.

e) Provide training in improving capacity of state management, social administration, and qualifications, capacity of officials; develop a plan for disease prevention, control and adaptation, regularly inspect and supervise the implementation; prepare plans for the most urgent and worst situations, avoid being passive and unexpected, to affect to the response capacity. Promote strength of the people and grassroots political system in organizing prevention and control of natural disasters and epidemics.

g) On the basis of the tasks and projects expected to be invested from the Program in Report No. 01/BC-CP and Submission No. 02/TTr-CP dated January 2, 2022 of the Government of Vietnam, actively review and develop lists and estimated capital amounts of the Program for each task or project in the 02-year period of 2022-2023 and each year of the period under their management, send them to ministries of management of industries and fields for consolidating as required; for projects on digital transformation and information technology, submit them to the Ministry of Planning and Investment before February 15, 2022.

- Regarding disbursement of public investment capital: (i) Expeditiously complete investment procedures for projects of the Program in accordance with the Law on Public Investment and relevant laws; (ii) Speed up the progress of site clearance, promptly remove difficulties related to land and natural resources; (iii) Urge and speed up the progress of construction; carry out commissioning, make payment documents as soon as the volume is available; (iv) Review and transfer capital plans from projects with low disbursement progress to projects with faster disbursement progress and lack of capital; (v) Establish a working group to promote capital disbursement in each ministry, authority and region in order to urge, inspect, supervise and handle bottlenecks in disbursement of public investment capital; (vi) Review responsibilities of the concerned collectives, heads and individuals in case the disbursement plan is not completed according to the set schedule; (vii) Resolutely fight stagnation, strictly handle negative cases in public investment; (viii) Conduct online bidding according to regulations, ensure publicity and transparency, select qualified contractors; (ix) Strictly handle cases that contractors violate the progress and quality of their contracts.

- Heads of ministries, central and local authorities: (i) Take full responsibility before the Government and the Prime Minister for results of urging, inspecting and organizing the disbursement of public investment capital of the ministries, authorities and their regions; (ii) Assign specific leaders of authorities and units directly taking charge and directing the disbursement, regularly check progress in the field, promptly remove difficulties for each project; (iii) Organize weekly briefings with governing bodies and investors on the implementation of projects and the disbursement of public investment plans. Do not let the public investment be delayed, prolonged or inefficient while resources are limited and public opinion is pressing and concerned.

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i) Effectively and promptly implement specialized mechanisms to speed up the public investment projects of the Program, ensure publicity, transparence and prevention of negativity, corruption and waste.

k) Strengthen inspection and supervision, promote prevention and control of negativity, corruption and waste, prevent acts of negativity, corruption and self-profit of policy; ensure publicity and transparence in organizing implementation.

18. Vietnam Television, Voice of Vietnam and Vietnam News Agency shall be more proactive and active to promptly, accurately and comprehensively provide information on the country's situation, policies on support for enterprises and people and results of the implementation of the Program.

19. The Government of Vietnam proposes:

a) The Standing Committee of National Assembly, Ethnic Minority Council and Committees of the National Assembly, Delegations of the National Assembly, members of the National Assembly, the People's Councils of provinces or central-affiliated cities, Vietnam Fatherland Front, member organizations shall, within the ambit of their duties and powers, supervise the implementation of this Resolution.

b) The Central Committee of the Vietnam Fatherland Front, the Vietnam Confederation of Trade and Industry, the Vietnam General Confederation of Labor, socio-political organizations, socio-professional organizations shall strengthen supervision and cooperation in urging, inspecting and evaluating the implementation of the Program, and reject fake, malicious and distorting news on epidemic prevention and control to create consensus and trust among the people; regularly research, grasp the situation, propose solutions to support, remove difficulties for enterprises.

c) The State Audit Office of Vietnam shall organize annual audits of the implementation of the Program, ensure fast, effective, public and transparent implementation, prevention of negativity, corruption, group interests, and report the National Assembly at the last session of 2022, 2023 and the middle session of 2024.

20. Ministers, heads of ministerial authorities, governmental authorities, presidents of the people's committees of provinces of central-affiliated cities, presidents of members' councils, general directors of state-owned corporations shall be directly responsible before the Government and Prime Minister for active and proactive implementation and implementation results of this Resolution; promptly and fully report difficulties arising during the implementation period to competent authorities according to regulations./.

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ON BEHALF OF. GOVERNMENT
PP. PRIME MINISTER
DEPUTY PRIME MINISTER




Le Minh Khai