Cần Thơ is hoping to accelerate economic growth by speeding up public spending, removing institutional bottlenecks, and creating favourable conditions for private investment, city authorities said.
State Treasury will have to take on challenging tasks next year as public spending is expected to rise, according to Deputy Minister of Finance Vo Thanh Hung.
The COVID-19 health crisis and the resulting economic downturn has thrown a spanner in the works of already tardy public spending, hindering Viet Nam’s efforts to revive its post-pandemic economy and speed up slowing GDP growth.
As stated in Resolution 84/NQ-CP, the Government has instructed corresponding administrative authorities to aim for a 0.5 per cent decrease in lending interest rates from now until the end of 2017, while keeping taxes, fees and other charges unchanged.