While a renewed focus on equitizing State-owned enterprises (SOEs) has been exhibited following the leadership transition in April last year, equitization alone is not a short-term solution to reducing the government’s fiscal deficit.
Prime Minister Nguyễn Xuân Phúc, chairing the Government’s regular July meeting in Hà Nội on Thursday, asked officials to take measures to ensure their sectors and agencies reach this year’s growth targets.
The Ministry of Finance has refused to reduce tax rates for the coal industry, citing the fact that tax reduction is beyond the Government’s authority.
How to mobilise idle foreign currency and gold from locals to invest in business and production has become a hot issue recently, with the Government last week once again asking the State Bank of Việt Nam (SBV) to consider proposals.
Boosting crude oil pumping and coal mining to achieve a gross domestic product (GDP) growth rate of 6.7% in 2017 is forecast to face difficulties mainly due to low prices, said the Ministry of Planning and Investment.
