70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Vietnamese Govt to restructure real estate, bond markets in 2023
Hai Yen 16:27, 2023/01/12
The main objective for Vietnam in 2023 remains to ensure stable macroeconomic fundamentals, contain inflation, and boost growth.

The Government would prioritize restructuring the monetary, corporate bond, securities, and real estate markets in 2023 to ensure the lawful rights of businesses and investors.

 Mechanics manufacturing at Tam Hop Company in Soc Son District, Hanoi. Photo: Viet Linh

The move was part of Government resolution No. 01, signed off by Prime Minister Pham Minh Chinh on a plan for socio-economic development in 2023.

According to the resolution, Vietnam's economy continues to face great challenges in 2023 due to the complicated global situation, including rising tension between world powers and protracted trade wars.

"The conflict between Russia and Ukraine and the serious effects of the Covid-19 pandemic is expected not to abate in the short term," the resolution stated.

On the domestic front, rising inflationary pressure and the possibility of rising interest rates and exchange rates continue to put a financial burden on the local business community and the people.

Meanwhile, Vietnam’s major export markets are still struggling with economic woes, which could undermine the country’s trade outlook in 2023.

In this context, the Government has set 11 objectives and solutions to ensure stable macroeconomic fundamentals, contain inflation, and boost growth.

The resolution expects Vietnam to manage monetary policy in line with the expansionary fiscal policy.

“A stable monetary and foreign exchange markets, along with the smooth operation of the banking sector under all circumstances, should be the top priority for the finance-banking management efforts this year,” stated the resolution.

Regarding the capital market, the Government stressed its commitment to restructure the monetary, corporate bond, securities, and real estate markets.

"In this context, safe and sustainable development of these markets should play a key role in solidifying the macro fundamentals and enhancing Vietnam’s economic resilience and independence," said the resolution.

“It is essential to ensure the safety of the capital market and lawful rights of businesses and investors.”

Resolution No.01 also mentioned addressing six weak banks, rising bad debts, and large-scale projects suffering huge losses.

The Government added it would tighten the price management of strategic commodities, such as electricity or petroleum products.

Long-term efforts for sustainable development are the ongoing administrative reform closely associated with the formation of e-Government and Digital Government.

"Priority will be given to promoting human resources, especially high-quality manpower and the application of science-technology, guaranteeing territorial sovereignty, national defense and security," the resolution added.

The government tasked ministries and agencies with closely monitoring the international and domestic situation to mitigate negative effects on the economy and businesses in time.

This year, Vietnam targets GDP growth of 6.5% and a GDP per capita of US$4,400.

Other key economic indicators are the expansion of the consumer price index (CPI) of 4.5% and the share of the manufacturing and processing sector in GDP of 25.4-25.8%.

RELATED NEWS
TAG: Vietnam GDP vietnam socio-economic development vietnam 2023
Other news
16:54, 2024/06/22
Vietnam's economy set for higher GDP growth than regional peers: IMF
Thanks to the efforts of the political system, the people, businesses, and international friends, Vietnam has achieved significant and comprehensive results across all sectors.
16:52, 2024/06/22
Prime Minister set to attend WEF forum in China
Prime Minister Pham Minh Chinh is scheduled to attend the World Economic Forum's (WEF) 15th Annual Pioneers Meeting in China next week.
12:25, 2024/06/22
Vietnam’s veggie exports top US$3 billion in H1
The figure could go up to US$7 billion this year, which is $0.5 billion to $1 billion above the planned target.
20:33, 2024/06/20
Vietnam, Russia to deepen economic cooperation
Vietnam and Russia agreed to explore and expand cooperation in new and clean energy sectors, contributing to green transition and sustainable development.
20:05, 2024/06/20
Vietnam Gov’t urges greater efforts to support real estate market
The housing market, like the economy, has shown positive recovery signs month after month, but difficulties are still present.
17:01, 2024/06/18
Non-cash payment fast becoming the norm in Vietnam
Non-cash payment is crucial to reducing the volume of cash in circulation, which in turn lowers the social costs associated with cash handling.