MPI discusses socio-economic recovery and development program

The Ministry of Planning and Investment (MPI) is coordinating with relevant ministries and agencies as well as consulting with both Vietnamese and foreign experts to quickly complete a draft socio-economic recovery and development program to submit to authorities, Deputy Minister of Planning and Investment Tran Quoc Phuong told a regular conference of the government on November 6.

The program is to consist of five groups of solutions, proposed on the basis of international experience and lessons learned in the past, especially during the economic recession in the 2009-2011 period.

The first group focuses on pandemic prevention activities, which can be flexibly adapted and create conditions for socio-economic activities to resume.

The second relates to social security, providing support to people hit by Covid-19.

The third includes solutions to support businesses, cooperatives, and business households to resume business activities and acquire adequate resources.

The fourth has long-term solutions relating to public investment promotion and quickening the disbursement of public investment capital.

The final group of solutions includes management and operational solutions, especially towards meeting objectives in risk management as well as inflation control, macroeconomic stability, and ensuring major balances in the economy.

“The two core and important perspectives of the program combine both recovery and development,” Deputy Minister Phuong told the gathering. “Therefore, the proposed solutions combine the short term and the long term.” He added that MPI is coordinating very closely with relevant units to establish the most reasonable balance of resources.

“The program is in the process of being completed and is about to be submitted to authorities for a decision,” he concluded.