Resolve investment issues and expedite tax and fee assistance for businesses

This survey covered 5 cities, including Dong Nai, Binh Duong, Binh Dinh, Phu Yen, and Gia Lai.

The conference was held online. At State Treasury of Dong Nai province, the conference was chaired by Minister of Finance Ho Duc Phoc; Chairman of Dong Nai Provincial People's Committee; members of the working delegation; representatives of some departments, branches, and investors in the area; leaders of some functional units of the Ministry of Finance…

There were representatives from the province of Dong Nai, including the deputy secretary of the provincial Party committee, Cao Tien Dung, the chairman of the provincial people's committee, and heads of the local branches, authorities, and departments.

Local officials from Binh Duong, Binh Dinh, Phu Yen, and Gia Lai were present at the bridge points.

Minister of Finance Ho Duc Phuc chaired the meeting. Photo: T.T.

Working Group No.5 has been led by Minister of Finance Ho Duc Phoc and has been in charge of monitoring, urging, and inspecting localities with disbursement ratios lower than the national average in 12 localities (Ninh Thuan, Binh Thuan, Dak Lak, Dak Nong, Gia Lai, Kon Tum, Lam Dong, Dong Nai, Binh Duong, Binh Phuoc, Tay Ninh, Ba Ria Vung Tau).

Minister Ho Duc Phoc stated at the meeting that, in the face of numerous difficulties and challenges, Prime Minister Pham Minh Chinh signed Decision No. 435/QD-TTg of appointing members of the Government to lead the work with localities on production and business situation, public investment, infrastructure construction, and import-export in the area.

Members of the Government shall bear primary responsibility for, and work with, the leaders of the ministries and central authorities directly associated with them, urging them to work with localities on the situation assessment and solutions to promote production and business, public investment, infrastructure construction, import and export, thus resolving difficulties in social housing, the real estate market, administrative discipline, and other arising issues in the area.

As a result, Minister Ho Duc Phoc suggested that local leaders openly discuss difficulties and problems in their communities and simultaneously propose solutions and recommendations to be promptly reported to competent authorities for settlement, particularly in the context of people and businesses still facing numerous challenges today.

According to Dong Nai provincial leaders, some projects in the area were still slow to implement due to problems with investor approval procedures; problems related to Article 118 of the Land Law; and some difficulties in project planning that must be resolved soon.

Concerning the unblocking of obstacles for businesses, Dong Nai provincial leaders proposed to the Government and ministries that interest rates be reduced, debt zoning, debt relaxation, exemption and reduction of land use fees, and land rents.

According to leaders of Binh Duong province, the 4-month import-export situation in the area decreased by 20% compared to the same period last year, especially export turnover decreased by 23% over the same period last year, with exports of goods such as wood, leather shoes, electronics. In comparison to the same period last year, the 4-month budget revenue also fell. Disbursement of public investment capital in the area was lower than the national average, reaching 13.6%, owing primarily to slow land compensation prices.

Mr. Ta Anh Tuan, Chairman of the Provincial People's Committee in Phu Yen province, stated that the province is currently facing many difficulties due to high capital costs; what businesses require is the cost of capital, land, and supply chain. Disbursement of public investment capital in Phu Yen province remains low in comparison to the national average. The problem is primarily caused by overlap and conflicts between laws, particularly the Land Law (Articles 118 and 113).

Officials in the province of Phu Yen urged ministries and branches to work with localities to address production and business-related issues, speed up the distribution of public investment funds, and "figure out" to directly remove difficulties for the locality. According to Mr. Ta Anh Tuan, policies to reduce tax collection, fees, and charges must be carefully considered by the Government to support people and businesses while avoiding eroding the tax base and affecting the local budget balance.

Regarding the slow implementation of national target program projects, leaders of Phu Yen province proposed that some norms of Government, ministries, and branches be unified, avoiding disparities among localities that cause difficulties in implementation.

According to the provincial leader of Gia Lai province, the disbursement ratio of public investment capital in the area was still slow, reaching 8.3%, due to land clearance, and slow large projects. The municipality will implement a number of solutions in the upcoming time to encourage the disbursement of public investment capital in the area.

Promote public investment, lead private investment

Minister of Finance Ho Duc Phoc concluded the meeting by emphasizing that in the current difficult situation, ministries, branches, and localities must step in to unblock bottlenecks in mechanisms and policies, administrative procedures, and create favorable conditions for people and businesses.

Promoting the distribution of public investment capital has been critical for growth. Accelerating the distribution of public investment capital will open the door for private investment, thereby promoting economic growth.

The leader of the Prime Minister's Working Group No.5 suggested that the leaders of the five provinces focus on innovative solutions to business problems.

Currently, the three localities' disbursement of public investment capital is lower than the national average; therefore, provincial leaders will need to step in and put forward specific solutions to break through shortly.

Minister Ho Duc Phoc has responded directly to each petition from the community. According to him, the Ministry of Finance has made efforts to submit to competent authorities and promulgate policies on the exemption, reduction, and relaxation of various taxes, fees, and charges for individuals and businesses. Currently, the Ministry is submitting options to the Government and the National Assembly for value-added tax reduction, and remission of 35 types of fees and charges.

According to the Minister, after the meeting, the Ministry of Finance will synthesize recommendations and propose solutions to remove barriers to production and business, promote the disbursement of public investment capital, infrastructure construction, and import and export, and then report to the Prime Minister.