Headlines 28/09/2024 16:05 CH

Vietnam to stimulate consumer demands and support manufacturing, business, and domestic market development

Phương Hồng

On August 27, 2024, the Prime Minister of Vietnam promulgated Directive No. 29/CT-TTg on stimulating consumer demands and supporting manufacturing, business, and domestic market development.

Specifically, the general tasks of stimulating consumer demands and supporting manufacturing, business, and domestic market development under the directive of the Prime Minister of Vietnam are as follows:

- Put works and investment projects creating new manufacturing capability in early operation. Focus on reviewing and prioritizing measures to resolve difficulties in the disbursement of public investment, credit packages, and land, as well as policies for attracting social resources to participate in the implementation of projects in conformity with the scale and signal of the market.

- Clear domestic market and adopt policies to encourage consumption and investment in fields with domestic manufacturing advantages and manufacturing capability demanded by the domestic market.
 
- Review and adopt policies to support domestic enterprises in the participation in the supply chain of supporting industrial products of foreign-invested manufacturing and export enterprises in Vietnam.

- Implement measures to connect specific regions to reduce transportation costs, facilitating goods circulation among regions; provide support for enterprises transferring investment to regions with competitive advantages concerning elements such as production and business premises, abundant labor resources, and cheap labor costs to reduce manufacturing costs.

- Ministries, agencies, and administrative divisions shall apply technologies concerning digital transformation, artificial intelligence (AI), big data, and blockchain technologies to accelerate the reform and simplification of administrative procedures.

- Promote trade promotion in the domestic market, connection of demand and supply, market information provision support, and legal counseling for small and medium-sized enterprises.
 
- Continue to strictly comply with Directive No. 03-CT/TW 2021 of the Secretariat of Vietnam on intensifying the CPV leadership over the “Vietnamese People Prioritizing Vietnamese Goods” Campaign in the new situation and Directive No. 28/CT-TTg 2021 of the Prime Minister of Vietnam on intensifying the implementation of the “Vietnamese People Prioritizing Vietnamese Goods” Campaign in the new situation.

See more details in Directive No. 29/CT-TTg promulgated on August 27, 2024.

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