Many financial policies are proposed by the Ministry of Finance to stimulate aggregate consumer demand.
- 177
- Business
- 21:57 08/11/2023
DNHN - In 2024, the Prime Minister instructed the Ministry of Finance to present proactive proposals to the appropriate authorities for prompt deliberation and determination regarding exemptions, reductions, and extensions of taxes, fees, and charges.
By extending, excusing, or reducing certain taxes, fees, and charges, the Ministry of Finance has continued to implement policies designed to assist individuals and organizations in overcoming obstacles throughout 2023. A newly issued circular specifies the reduction of 35 fees in total. These include medical fees, construction investment project appraisal fees, fees for securities transactions, and fees for citizen identification. From July 1, 2023, to December 31, 2023, this reduction in fees is anticipated to reduce state budget revenues by approximately VND 700 billion.
Furthermore, to ensure the economic situation's stability, the Ministry of Finance pledges to continue auditing the situation and, if required, suggest additional remedies. In addition, on October 21, 2023, the Prime Minister issued Official Dispatch No. 990/CD-TTg, which guided the execution of measures to enhance credit capital accessibility and eliminate obstacles to business operations and production. The primary objective of this communication is to facilitate the fulfillment of the state budget revenue and socio-economic development plan for the year 2023.
Pham Minh Chinh, the prime minister, has recently issued Official Telegram No. 990/CD-TTg dated October 21, 2023, to expeditiously eliminate impediments and challenges, advance resources, enhance the economy's capacity to access and absorb credit capital, and foster growth while maintaining macroeconomic stability. This is in pursuit of the highest objectives and targets outlined in the socio-economic development plan and state budget for 2023.
Subsequently, the Prime Minister instructed the Ministry of Finance to proactively put forth proposals for extension, exemption, and reduction of taxes, fees, and charges in 2024. These proposals should be duly submitted to the appropriate authorities for prompt deliberation and determination. Furthermore, drastic measures are required if the state budget revenue target for 2023 is to be surpassed by the National Assembly's estimate.
To stimulate aggregate domestic consumption demand, the Ministry of Finance has put forth financial policy proposals. To reduce taxes, fees, and charges in 2024, the Ministry of Finance has conducted research and proposed several solutions, including the following: continuing to consider a 2% value-added tax reduction and considering a reduction in the environmental protection tax rate. 2023 petrol and oil markets as they are implemented. Simultaneously, maintain an ongoing assessment and reduction of export and import tax rates to bolster domestic manufacturing and commerce and decrease the amount of fees collected...
The Ministry of Finance reported that as of October 30, 2023, 85 percent of budget revenue had been generated, which is equivalent to 1,366,000 billion VND. The Ministry of Finance will continue to implement solutions during the final months of the year, including the development of cross-border electronic information portals and tax data centers.
Furthermore, taxes are levied by the financial sector on business activities and real estate transfers. Its responsibilities include advising individuals and organizations on the accurate reporting of real estate transfer prices, enhancing management efficiency, and guaranteeing budgetary revenue.
As per the Ministry of Finance, these solutions not only assist businesses and bolster individuals' confidence, but they also amass long-overdue potential revenues, thereby guaranteeing a fund for construction investment. The infrastructure and socio-economic development budget of the nation.
PV (t/h)
Related news
- VINASME and Jeonnam Technopark Sign MOU on technology cooperation, human resource training, and trade promotion
- Vietnamese entrepreneurs strengthen ASEAN connectivity in the digital iIntegration era
- Prime Minister: Vietnam aims to become a regional logistics hub
- Vietnam upgraded to Secondary Emerging Market by FTSE Russell
- Hanoi’s economy grows 7.92% in first nine months of 2025, FDI surges nearly threefold
- Vietnam’s strong gdp growth fails to ease labor market distress
- US tariffs on Brazil propel Vietnam’s pangasius into global spotlight
- VietLeap AI Accelerator launches: A strategic springboard for Vietnam’s AI startups
- CICON expands strategic alliances: A new step forward in Vietnam–Korea business connectivity
- What must Vietnamese enterprises do to maintain their position in the global supply chain?
- Vietnam advances cybersecurity law to boost digital sovereignty and business resilience
- Vietnam embraces digital tools to modernize public administration
- Administrative procedures for establishing the national technology exchange reduced to one application set
- Vietnam hits highest FDI inflow since 2009, fuels industrial real estate boom
- Foreign investors expected to open 150,000 new securities accounts in the next 5 years
- Government’s plan to implement Law on Digital Technology Industry approved
- Vietnam launches “Private Economy Panorama Model” to foster public-private national development
- Shark Nguyễn Hòa Bình: Hanoi will become the capital of startup innovation.
- Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
- White House: When politics and technology join forces to rewrite the global AI order
Đọc thêm Business
VINASME and Jeonnam Technopark Sign MOU on technology cooperation, human resource training, and trade promotion
On October 15, 2025, in Hanoi, VINASME and Jeonnam Technopark (Korea) signed an MOU to promote trade, advance technology transfer, and develop human resources between enterprises of both nations.
Vietnamese entrepreneurs strengthen ASEAN connectivity in the digital iIntegration era
On the occasion of Vietnam Entrepreneurs’ Day (October 13), an international event themed “Integration – Innovation – Sustainable Development” was solemnly held in Ho Chi Minh City.
Vietnam upgraded to Secondary Emerging Market by FTSE Russell
FTSE Russell has officially upgraded Vietnam’s stock market to Secondary Emerging Market status, effective September 2026, marking a historic milestone for the country’s financial integration and global investment appeal.
US tariffs on Brazil propel Vietnam’s pangasius into global spotlight
Vietnam’s pangasius industry eyes $2 billion worth of exports in 2025 amid shifting US trade policy and a global supply realignment.
CICON expands strategic alliances: A new step forward in Vietnam–Korea business connectivity
On the afternoon of September 26, 2025, a strategic cooperation signing ceremony took place between CICON (Korea) and its key Vietnamese partners, including the Ho Chi Minh City Association of Small and Medium Enterprises (HUBA), Doanh nghiệp & Hội n
What must Vietnamese enterprises do to maintain their position in the global supply chain?
Mr. Lu Wei Chieh, General Manager of Cathay United Bank – Ho Chi Minh City Branch, shared with Business & Integration Magazine key strategies that can help Vietnamese enterprises not only stand firm but also go further amid shifting global dynamics.
Vietnam hits highest FDI inflow since 2009, fuels industrial real estate boom
This robust inflow is not only transforming the country’s industrial landscape but also signaling Vietnam’s rising role in the global supply chain amid shifting geopolitical dynamics.
Foreign investors expected to open 150,000 new securities accounts in the next 5 years
The Ministry of Finance has set an ambitious target to increase the number of securities trading accounts held by foreign investors in Vietnam to 200,000 by 2030—four times higher than the current figure.
Vietnam launches “Private Economy Panorama Model” to foster public-private national development
Billionaire Nguyen Thi Phuong Thao emphasizes that entrepreneurs’ responsibilities extend beyond profits to creating social value.
Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
As part of his working visit to Japan and participation in the Vietnam National Day at EXPO 2025 Osaka, on September 8, Deputy Prime Minister Lê Thành Long held talks with Osaka Governor Yoshimura Hirofumi.

