Consider applying a priority import-export process to help businesses optimize time and costs

Speed up import and export processes and procedures

Resolution No. 58/NQ-CP dated April 21, 2023, of the Government on several key policies and solutions to support businesses to adapt, recover quickly and develop sustainably by 2025 proactively has stated many tasks for the Ministry of Finance, including supporting enterprises in import and export.

Resolution 58 stated that the production and business situation in the coming time is expected to face many difficulties, including the slow and difficult recovery of major trading partners and the new requirements of foreign partners. Therefore, the partners should set requirements for Vietnamese businesses that need to innovate to catch up with new trends; otherwise, they will lose their competitiveness and lose the opportunity to penetrate deeply into the global value chain.

Enterprises always need support to unclog resources and improve the business environment. Photo: H.Diu

Therefore, to free up resources for investment in production and business, the group of tasks and solutions for the Ministry of Finance is to direct the General Department of Customs to assume the prime responsibility for and coordinate with ministries, branches and localities in studying and applying minimize the current administrative processes or consider applying priority import and export processes to help businesses optimize time and costs at domestic stages to speed up the process. , import procedures for essential goods, and speed up the export of agricultural products and key export commodity groups.

In addition, to overcome supply chain disruptions, diversify export markets and expand domestic markets, Resolution 58 asked the Ministry of Industry and Trade to assume the prime responsibility for and coordinate with ministries, branches and industry associations in. foreign customers and partner agencies to step up the implementation of activities to support enterprises to diversify supply sources and partners; supporting industries and businesses to deal with trade barriers; strengthen support for enterprises to improve their capacity to participate in global value chains, apply e-commerce in market access, and diversify export markets.

The Ministry of Industry and Trade must also coordinate with ministries, branches and localities to promptly remove difficulties arising in import and export activities through border gates.

Reduce costs for businesses

Regarding supporting cost reduction for businesses, Resolution 58 requires the Ministry of Finance to continue implementing tax administration reform for individual business households to gradually reduce the difference between tax policies of enterprises and business households; report to the Prime Minister in the second quarter of 2023.

This agency must also monitor and evaluate the operation of the corporate bond market according to the provisions of Decree No. 08/2023/ND-CP dated March 5, 2023, of the Government amending, supplementing and suspending the effect of several articles in the Decrees regulating the private placement of corporate bonds in the domestic market and the offering of corporate bonds to the international market.

In addition, the Ministry of Finance is tasked with presiding over and coordinating with relevant agencies to continue promoting forecasting and effective coordination between monetary and fiscal policies and other macro policies and balance the central budget to support several subjects that are heavily affected by the price of petrol, such as supporting fishermen to stick to the sea, supporting transport enterprises and low-income people according to regulations.

Continue to drastically and effectively implement support solutions on taxes, fees, charges and land rent issued by competent authorities to implement the socio-economic recovery and development program.

Focus on researching, completing and submitting to competent authorities for the decision to implement solutions soon to reduce land rent for enterprises and organizations; continue to coordinate with ministries, branches and associations in reviewing and submitting to the Government for adjustment of import and export tax rates for input materials for production to support domestic production and business.

This agency must also coordinate to review and evaluate difficulties and obstacles in establishing, organizing and operating the credit guarantee fund for small and medium-sized enterprises and propose solutions; report to the Prime Minister in the second quarter of 2023.

The Ministry of Finance is assigned to coordinate with the Ministry of Agriculture and Rural Development to find solutions to reduce the cost of raw materials and inputs for agricultural and aquatic production, especially animal feed.

In the long term, to increase the effectiveness of implementing policies and resources to support enterprises to improve their competitiveness and proactively integrate into the world, Resolution 58 requires the Ministry of Finance to prioritize balancing and allocating resources to regularly spend the state budget to implement policies to support enterprises in sustainable production and business, to transform structure and technology towards modernity, to reduce carbon emissions following the Quarterly Law on State Budget and relevant legal documents.