Urgent measures to restore production post-disaster

VCN - To quickly restore agricultural production after storm No. 3 and floods, the Prime Minister assigned the Ministry of Finance to guide the immediate implementation of financial support policies, tax exemptions, reductions, and extensions, land rents, water surface rents, etc. for those affected by storms and floods; continue to research to have policies to exempt and reduce fees and charges for those affected.
Thanh Tan Feather Company Limited (Thuong Tin, Hanoi) suffered damage after storm No. 3. Photo: Huong Diịu
Thanh Tan Feathers Company Limited (Thuong Tin, Hanoi) suffered damage after storm No. 3. Photo: Huong Diịu

Prime Minister Pham Minh Chinh has issued a directive requiring ministries, agencies, and localities to focus on directing and implementing measures to quickly recover agricultural production after Storm No.3 and subsequent floods.

To quickly address the consequences of Storm No.3 and the floods, restore and develop agricultural, forestry, and fisheries production, ensure the supply of food, and contribute to controlling inflation and stabilizing people's lives, the Prime Minister requires ministers, heads of relevant agencies, and chairmen of provincial and city People's Committees to focus on directing and implementing effective, decisive, and synchronized solutions to promote production, maintain agricultural growth, and ensure the stability of people's lives.

Chairmen of provincial and city People's Committees, especially those affected by the recent storms, floods, and landslides, should focus on directing relevant agencies to promptly review and accurately assess damage to agricultural production; proactively and actively mobilize all local resources (local budget, disaster prevention fund, and other legal resources) to immediately implement support policies for those affected, in accordance with the law.

If the local budget is insufficient to provide support, provincial People's Committees should submit documents to the Ministry of Finance to request advance funding for implementation, as stipulated in Government Decree No. 02/2017/NĐ-CP on mechanisms and policies for supporting agricultural production to restore production in areas affected by natural disasters and diseases.

Furthermore, the Prime Minister assigns the Ministry of Finance to take the lead, in coordination with relevant ministries, agencies, and localities, to direct and guide the immediate implementation of financial support policies, tax exemptions, reductions, and extensions, land rent, water surface rent, etc., for localities and individuals affected by storms, floods, especially agricultural production, in accordance with the law; continue to study policies for exempting and reducing fees and charges for affected individuals.

At the same time, directing insurance companies to promptly review and pay insurance benefits to affected customers in accordance with regulations. In the meantime, immediately implement advance compensation for customers as prescribed.

Moreover, timely consider implementing, within the scope of authority, advance funding for localities to implement agricultural production support policies to restore production in areas affected by natural disasters and diseases, as stipulated in Decree No. 02/2017/NĐ-CP of the Government.

The Ministry of Finance, in coordination with the Ministry of Agriculture and Rural Development and relevant agencies, should study, review, and submit to the competent authority for consideration of amendments and supplements to agricultural insurance support policies to promptly address practical issues and difficulties in implementing the policies.

Closely monitor domestic market price fluctuations; coordinate with relevant ministries and agencies according to authority and legal regulations to proactively and timely take necessary measures to control the prices of input materials and agricultural products, preventing sudden price increases, especially for essential goods and services that have a significant impact on the price level and consumer price index (CPI).

By Hoài Anh/Thanh Thuy

Related News

Amendment of Special Preferential Import and Export Tariff Schedule to Implement CPTPP Agreement for the 2022-2027 Period

Amendment of Special Preferential Import and Export Tariff Schedule to Implement CPTPP Agreement for the 2022-2027 Period

VCN - The Ministry of Finance is drafting a decree amending and supplementing a number of articles of Decree No. 115/2022/ND-CP dated December 30, 2022 of the Government promulgating Vietnam's preferential export tariff schedule and special preferential import tariff schedule to implement the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) for the 2022-2027 period. The Decree is expected to take effect from the date of signing.
Budget expenditure in the first three quarters of 2024 reached about VND 1,256.3 trillion

Budget expenditure in the first three quarters of 2024 reached about VND 1,256.3 trillion

VCN - The Ministry of Finance said that in the first 9 months of 2024, the state budget spent about VND 1,256.3 trillion, equal to 59.3% of current apropriation, an increase of 1.4% over the same period in 2023.
Support policies needed for businesses to recover after the super typhoon No. 3

Support policies needed for businesses to recover after the super typhoon No. 3

VCN - Super Typhoon No. 3 has left severe consequences. The livelihoods of the people and the operations of businesses have been significantly affected, making timely and appropriate support policies from regulatory agencies essential.

Latest News

Realized social investment capital is estimated at VND2,417.2 trillion

Realized social investment capital is estimated at VND2,417.2 trillion

VCN - Lending interest rates tend to decrease, production for export has grown well; policies on tax exemption, reduction, extension and deferral continue to be implemented to support businesses and production establishments, promoting new investment and production expansion, increasing the attraction and implementation of total social investment capital.
State-owned banks struggle to increase capital

State-owned banks struggle to increase capital

While private joint stock commercial banks have increased capital significantly so far this year, the capital for State-owned commercial banks has remained stagnant.
State budget revenue reached 85.1% of estimate

State budget revenue reached 85.1% of estimate

VCN - The Ministry of Finance said that in the first 9 months of 2024, the total state budget revenue is estimated at 1,448.2 trillion VND, equal to 85.1% of the estimate, of which many revenue items have achieved good collection progress and growth compared to the same period in 2023. However, in recent months, budget revenue has begun to face difficulties, etc.
Increasing institutional investors – improving quality of corporate bond market

Increasing institutional investors – improving quality of corporate bond market

VCN - The structure and quality of investors have been one of the limitations of the corporate bond market in recent times. To improve the quality of the market, increasing institutional investors and improving the quality of investors, including individual investors, is one of the solutions that have been implemented by management agencies, thereby building a sustainable corporate bond market.

More News

Risks for the economy when cash flow has not yet been put in to production and business

Risks for the economy when cash flow has not yet been put in to production and business

VCN - Investment channels in Vietnam have a lot of potential, but financial and banking expert Dr. Nguyen Tri Hieu, Director of the Institute for Research and Development of Global Financial and Real Estate Markets, said that cash flow into production and business is still modest, leading to risks for the economy.
An open banking system is essential for a smart city

An open banking system is essential for a smart city

Building a smart city with a smart payment system playing a key role has helped Hanoi gradually transform and make breakthroughs in the process of development, said Ha Minh Hai, Vice Chairman of the municipal People's Committee.
Tax sector focuses on simplifying tax administrative procedures

Tax sector focuses on simplifying tax administrative procedures

VCN - The tax sector is focusing on researching and proposing amendments to legal documents to simplify processes and procedures; promoting the modernization of information technology applications to support the settlement of tax refund dossiers more conveniently and quickly.
Individual customers' deposits in Jan-Jul see record high

Individual customers' deposits in Jan-Jul see record high

Total deposits from individual customers at banks had reached 6.8 quadrillion VND (276.3 billion USD) in the first seven months of this year, marking the highest level ever, according to the latest data released by the State Bank.
FED cuts interest rates: A good opportunity for Vietnam’s exports and investments

FED cuts interest rates: A good opportunity for Vietnam’s exports and investments

VCN - The U.S. Federal Reserve (FED) has decided to cut interest rates and announced plans for further reductions until 2026. According to Dr. Can Van Luc, Chief Economist at BIDV and a member of the National Financial and Monetary Policy Advisory Council, the FED's shift in monetary policy has presented a great opportunity for Vietnam's exports and investments.
Developing smart cities through open banking ecosystem

Developing smart cities through open banking ecosystem

VCN - Building smart cities is an inevitable development trend, requiring synchronous digital transformation of many fields, including banking and finance.
Vietnam’s stock market likely to reach 9 million accounts by 2025

Vietnam’s stock market likely to reach 9 million accounts by 2025

Vietnam is on track to reach 9 million stock trading accounts by 2025 and 11 million by 2030, CEO of Vietnam Report JSC Vu Dang Vinh has said.
Managing price effectively, reducing pressure on inflation

Managing price effectively, reducing pressure on inflation

VCN - Timely and effective price management helps control the consumer price index (CPI) and inflation in accordance with the set target.
Important step to soon upgrade stock market

Important step to soon upgrade stock market

VCN - According to experts, the Ministry of Finance's issuance of Circular No. 68/2024/TT-BTC dated September 18, 2024 is an important step in the process towards the goal of improving the quality of the Vietnam’s stock market.
Read More

Your care

Latest Most read
Realized social investment capital is estimated at VND2,417.2 trillion

Realized social investment capital is estimated at VND2,417.2 trillion

Lending interest rates tend to decrease, production for export has grown well; policies on tax exemption, reduction, extension and deferral continue to be implemented to support businesses
State-owned banks struggle to increase capital

State-owned banks struggle to increase capital

While private joint stock commercial banks have increased capital significantly so far this year, the capital for State-owned commercial banks has remained stagnant.
State budget revenue reached 85.1% of estimate

State budget revenue reached 85.1% of estimate

VCN - According to the report on the implementation of the state budget in September and the first 9 months of the year by the Ministry of Finance, the total state budget revenue in September is estimated at VND 94.3 trillion, equal to 5.5% of the estimat
Budget expenditure in the first three quarters of 2024 reached about VND 1,256.3 trillion

Budget expenditure in the first three quarters of 2024 reached about VND 1,256.3 trillion

The Ministry of Finance said that in the first 9 months of 2024, the state budget spent about VND 1,256.3 trillion, equal to 59.3% of current apropriation, an increase of 1.4% over the same period in 2023.
Increasing institutional investors – improving quality of corporate bond market

Increasing institutional investors – improving quality of corporate bond market

VCN - The structure and quality of investors have been one of the limitations of the corporate bond market in recent times. To improve the quality of the market, increasing institutional investors and improving the quality of investors, including individu
Mobile Version