Minister of Finance Ngo Van Tuan at a meeting with constituents before the 2nd Session of the 16th National Assembly . Photo: Organizing Committee .

At the meeting with voters before the 2nd Session of the 16th National Assembly, held on the afternoon of October 3rd in Quang Ninh City, Minister of Finance Ngo Van Tuan stated that the pressure to manage prices remains significant, particularly regarding the price fluctuations of gasoline, diesel, and electricity.

According to the Minister, since the beginning of the year, in response to fluctuations in world oil prices, agencies have implemented a comprehensive range of solutions related to import taxes, environmental protection taxes, and other policies concerning petroleum products.

Adjusting tax policies, combined with price control measures and the use of the Fuel Price Stabilization Fund, has contributed to limiting domestic price increases, thereby reducing pressure on people and businesses.

Finding solutions for household electricity prices.

Regarding electricity prices, Minister Ngo Van Tuan stated that the Ministry of Finance is considering solutions to mitigate the impact on the public, especially on household electricity prices. However, management needs to ensure a balance between price stability and electricity supply.

According to Mr. Tuan, in the coming period, it is necessary to consider factors that may affect electricity supply, especially weather patterns and drought conditions that could impact hydropower sources.

Therefore, in addition to calculating the impact of electricity prices on the people, agencies must also proactively calculate other supply sources and have solutions to ensure energy security.

The minister argued that controlling electricity prices is crucial in addressing inflation and stabilizing the macroeconomic situation .

Earlier, the Minister stated that Vietnam's economy achieved many positive results in the first nine months of the year. GDP for the nine months is estimated to have increased by 9.01% compared to the same period last year, while the third quarter saw a 9.95% increase. Total import and export turnover reached US$888.02 billion , an increase of 30.4%.

Reduce compliance costs for businesses.

Also at the conference, Minister Ngo Van Tuan stated that the Ministry of Finance is continuing to refine tax policies in a way that simplifies them, reduces compliance costs, and makes them more convenient for citizens and businesses.

In the first nine months, 223,900 businesses entered or re-entered the market, while approximately 172,000 businesses withdrew. According to the Minister, a segment of businesses, especially small and medium-sized enterprises, are still facing difficulties in production and business operations.

Therefore, along with supportive policies, administrative procedure reforms and improvements in tax law compliance need to be further promoted.

For household businesses, small and micro enterprises, the Ministry of Finance's guideline is to simplify tax calculation methods, in accordance with the scale and management capabilities of each group.

The tax authorities are also implementing a data cleanup program for tax identification numbers, aiming to reduce the time and costs for businesses during the registration, operation, and termination processes.

Regarding housing, the Minister stated that agencies are amending the Law on Real Estate Business and the Law on Housing, which includes a direction for developing long-term rental housing alongside social housing. This approach aims to create more affordable housing options for people, instead of focusing solely on the goal of home ownership.

Regarding land policy, the Minister stated that the amendment to the Land Law continues to focus on compensation and land clearance. Policies for those whose land is expropriated need to consider ensuring that people have better housing, living environments, and livelihoods when their land is reclaimed for socio-economic development.

Source: https://znews.vn/bo-tai-chinh-tinh-cach-han-che-tac-dong-cua-gia-dien-post1687319.html