The Ministry of Finance is tasked with developing solutions to tightly control imported goods through e-commerce in line with Vietnam's international commitments.

E-commerce has been on the rise in Vietnam over the past years. Photo: Pham Hung/The Hanoi Times

In his latest directive aimed at stimulating consumption and supporting domestic market development, Prime Minister Pham Minh Chinh outlined key measures for economic growth. The Ministry of Industry and Trade is tasked with proposing tax policies to encourage investment in industries that produce goods capable of replacing imports.

The Prime Minister emphasized the urgent need to complete projects that enhance production capacity and activate domestic markets. Policies should focus on boosting local consumption and investing in sectors where Vietnamese industries have a competitive advantage.

He also highlighted the importance of integrating domestic businesses into the supply chains of foreign-invested companies, reducing regional transportation costs, and relocating enterprises to areas with competitive labor and production costs.

Furthermore, Chinh called for the adoption of digital technologies such as AI, big data, and blockchain to streamline administrative procedures and enhance domestic trade.

The Ministry of Industry and Trade will work on strengthening the link between production and distribution, reinforcing value chains, and organizing nationwide promotional programs to boost domestic consumption. Emphasis should be placed on promoting locally made products on e-commerce platforms.

Additional measures include supporting businesses with trade remedy investigations, resolving issues in industrial production projects, and expediting the disbursement of funds for trade promotion programs.

The Ministry of Finance will explore ways to control imports via e-commerce and propose tax policies to attract investment in domestic production. The State Bank of Vietnam is directed to prioritize lending to the business and consumption sectors.

The Ministry of Agriculture and Rural Development will support agricultural product consumption and promote exports, especially to neighboring markets like China. Local governments are urged to resolve land issues to facilitate business expansion, while industry associations are encouraged to monitor market trends and provide timely support to enterprises.