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The economy gradually recovers, social security is guaranteed

Update: 06-07-2020 | 15:59:58

 "To determine to prevent Covid-19 from returning to our country, at the same time we must make strong strides to develop the economy, restore growth." That was the direction of Prime Minister Nguyen Xuan Phuc at an online conference on 2nd July between the Government and localities to evaluate the socio-economic situation over the first 6 months and announce tasks in the last 6 months. Binh Duong province had Tran Van Nam, Member of the Party Central Committee, Secretary of Provincial Party Committee, Head of Provincial National Assembly's delegation; Tran Thanh Liem, Deputy Secretary of Provincial Party Committee, Chairman of Provincial People's Committee; Vo Van Minh, Member of Provincial Party Standing Committee, Chairman of Provincial People's Council, sat in on the online conference.

Binh Duong prepares all resources, is ready to welcome new generation of investment. In photo: Manufacture in Omron Company (VSIP 2 Industrial Park)

Be proactive, confident

According to the Government's assessment, early prevention of epidemic created an important premise for socio-economic development. This was a great success of the entire Party, the entire army and the entire people. However, the Covid-19 pandemic had a strong impact on our economy in the second quarter, especially in April and May, dragging down economic development targets over the same period. The economy in the first 6 months only gained 1.81%, the lowest level in the past 10 years, but in the current context, this is a quite good growth compared to other countries in the region and around the world. Overall, Prime Minister Nguyen Xuan Phuc said that our country still had some important bright spots. That was, macroeconomics continued to be maintained stably, large balances were guaranteed, creating an important foundation for economic recovery and growth.

In Binh Duong, despite of the Covid-19 pandemic's bad effects, over the first 6 months of 2020, the socio-economic situation had some optimistic aspects. Most of the major targets grew higher than the same period last year. In order to get that result, “Provincial People's Committee focused on implementing drastically the guiding documents of the Politburo, the Secretariat, the Government, the Prime Minister, Provincial Party Committee and Provincial People's Council on implementing measures to prevent and combat Covid-19, while stimulating socio-economic development and ensuring national defense and security. The province actively reviewed and assessed impacts of the epidemic on the development of each sector and field; implement well solutions to solve difficulties for production, business, ensure social security”, said Tran Thanh Liem, Deputy Secretary of Provincial Party Committee, Chairman of Provincial People's Committee.

Regarding the orientations ahead, the Prime Minister emphasized that the situation was still very complicated, requiring us to have special mechanisms, policies and solutions. In the current context, the task of economic recovery and development becomes more urgent than ever, especially while the world economic situation continues to deteriorate rapidly due to Covid-19 pandemic. But "we need to be calm, proactive and firm in our judgment, assess the situation, not be subjective but absolutely not pessimistic," the Prime Minister emphasized.

To stimulate growth

The Prime Minister instructed functional ministries to run macroeconomic policy tools, especially fiscal and monetary policies, and stimulate demand to encourage growth. The Prime Minister requested Ministry of Planning and Investment and other ministries, branches and localities to propose specific solutions and sanctions to ensure the disbursement of public investment capital. There must be specific measures to expand the international market, boost the domestic market, stimulate domestic consumption. At the same time, to develop a number of new economic sectors, such as the night economy, digital economy, and urban economy must go hand in hand with strong attraction of social investment, private investment, FDI capital, and further promote the role of localities.

In order to create favorable conditions for businesses and people, ministries, branches and localities need to focus on reviewing and finalizing legal regulations and cutting administrative procedures. The Prime Minister also asked localities and branches to discuss the implementation of Directive No. 11, Resolution No. 42, especially Decision No. 15 of the Prime Minister to support the right people and be effective.

For Binh Duong, in order to maintain internal resources, promote growth, create a position and force in a new normal state, Mr. Liem affirmed that in the coming time, the province would drastically support people and businesses in overcoming difficulties; put more efforts into implementing measures to ensure social security, livelihoods and employment, especially for workers, policy beneficiaries, the poor and the disadvantaged, who are greatly affected by the epidemic. In the third quarter of 2020, the provincial People's Committee will hold meetings with domestic and foreign enterprises, enhance investment promotion, and take advantage of opportunities of free trade agreements, solving difficulties in order to assist enterprises in accessing tax, fund and credit policies, and strive to fulfill the 2020 revenue and expenditure estimates assigned by the Prime Minister. Binh Duong also prepare all conditions for anticipating investment projects which are switching into Vietnam and the province; at the same time continue to accelerate the implementation and disbursement of public investment...

Reported by Tieu My - Translated by Ngoc Huynh

 

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