Contingencies to protect businesses

The government is to continue reducing various fees and taxes, as well as providing lending interest rate assistance for individuals and enterprises.

- By Nguyen Dat

On March 20, the Politburo issued Conclusion No.14-KL/TW on ensuring sufficient fuel supplies and stabilising fuel prices in Vietnam, following a meeting earlier on the issue.

The Politburo tasked the government's Standing Committee to take the lead and direct relevant agencies to closely follow and make forecasts of the situation and developments of demand and prices of fuel in the global market.

"The aim is to take the initiative in formulating effective contingency scenarios on economic growth and regulating the domestic market," read Conclusion 14.

"It is a must to consider and immediately utilise tools in fiscal policy such as lending interest rate decreases, borrowing loans, and meeting foreign currency demand, to support enterprises and citizens," it stated.

The Politburo has also demanded strengthening of inspection and supervisory measures, and tightened control to combat smuggling, and strict management of key distributors and traders, while dealing firmly with hoarding for profiteering and trade fraud.