Resolution No. 30/NQ-CP 2020 the Action Program for implementation of the Resolution No. 39-NQ/TW

RESOLUTION

Promulgating the Government’s Action Program for implementation of the Political Bureau’s Resolution No. 39-NQ/TW of January 15, 2019, on raising the efficiency of management, exploitation, use and promotion of resources of the economy^[1]

THE GOVERNMENT

Pursuant to the June 19, 2015 Law on Organization of the Government;

Pursuant to the Political Bureau’s Resolution No. 39-NQ/TW of January 15, 2019, on raising the efficiency of management, exploitation, use and promotion of resources of the economy;

At the proposal of the Minister of Planning and Investment,

RESOLVES:

Article 1.To promulgate together with this Resolution the Government’s Action Program for implementation of the Political Bureau’sResolution No. 39-NQ/TW of January 15, 2019, on raising the efficiency of management, exploitation, use and promotion of resources of the economy.

Article 2.This Resolution takes effect on the date of its signing.

Article 3.Ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairpersons of provincial-level People’s Committees, and related agencies, organizations and individuals shall implement this Resolution.-

On behalf of the Government
Prime Minister
NGUYEN XUAN PHUC

THE GOVERNMENT’S ACTION PROGRAM

For implementation of the Political Bureau’s Resolution No. 39-NQ/TW of January 15, 2019, on raising the efficiency of management, exploitation, use and promotion of resources of the economy

(Promulgated together with the Government’s Resolution No. 30/NQ-CP
of March 12, 2020)

The Political Bureau’sResolution No. 39-NQ/TW of January 15, 2019, on raising the efficiency of management, exploitation, use and promotion of resources of the economy (below referred to as Resolution No. 39-NQ/TW), has set a number of general objectives as follows: “To raise the efficiency of management, exploitation, mobilization, distribution and use of resources of the economy in order to boost the fast and sustainable socio-economic development, achieve social progress and justice, improve the people’s lives, and maintain national defense and security, early turning Vietnam into an industrial country toward modernization, then a socialist-oriented modern industrial country”.

Based on the guiding viewpoints, objectives, and major tasks and solutions in Resolution No. 39-NQ/TW, the Government promulgates this Action Program with the following principal contents:

I. OBJECTIVES AND REQUIREMENTS

1. To study, thoroughly understand and seriously and efficiently implement Resolution No. 39-NQ/TW, creating marked improvements in perception and action of leaders of various sectors and at different levels as well as employers and employees; especially to heighten the sense of responsibility of heads in the management, distribution and use of resources in a public, transparent and efficient manner.

2. To comprehensively identify major, specific and feasible tasks, and bring into full play the role and responsibilities of authorities at all levels and all sectors so that the Government and ministries, ministerial-level agencies, government-attached agencies and provincial-level People’s Committees concentrate on direction work for the achievement of general and specific objectives of Resolution No. 39-NQ/TW.

3. Based on their respective functions, tasks and practical conditions, ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairpersons of provincial-level People’s Committees, and heads of state administrative agencies shall proactively organize the implementation of tasks and solutions in a synchronous and comprehensive manner with focal and central points as well as an appropriate roadmap, high determination, great efforts, and resolute and effective actions.

4. To strive for attainment of the following specific objectives:

a/ Regarding human resources

- By 2025: The ratio of agricultural, forestry and fisheries labor will account for below 33% of the total national workforce. To basically address the human resource supply-demand imbalance in the economy; to establish the system for arranging jobs based on working positions, and consolidate the career system.

- By 2035: The ratio of agricultural, forestry and fisheries labor will make up under 20% of the total national workforce. The human development index (HDI) will be high in the world (of 0.700-0.799). To develop innovation capacity and build a pool of scientific and technological human resources and leading experts with qualifications equivalent to those of advanced countries in the region.

- By 2045: The ratio of agricultural, forestry and fisheries labor will represent less than 15% of the total national workforce. The HDI will be high in the world (of 0.800 or greater); labor productivity and competitiveness of Vietnam’s human resources will reach the average level of ASEAN-4 nations.

b/ Regarding material resources

- By 2025:

+ To complete the synchronous system of laws, mechanisms, policies and tools to promote the management and thrift and efficient use of natural resources. To explore, exploit, process and use minerals suitable to the practical scale and investment efficiency. To build new networks and maintain the operation of existing networks of natural resource and environment monitoring stations.

+ To form the system of fairly synchronous and modern physical foundations and socio-economic infrastructure facilities. To definitely complete urgent, key and focal construction works, creating a motive force for socio-economic development, and upgrade infrastructure systems connecting regions and areas throughout the country and urban infrastructure systems.

- By 2035:

+ To develop tools regulating the land use rights market, ensuring that about 99% of the natural land acreage will be put into exploitation and use. To control water source pollution; to restore 25% of the area of degenerated natural ecosystems. To complete the national system of natural resource and environment monitoring networks toward automation. To complete the establishment of a complete database of the natural resource and environment sector, and the national information system of natural resource supervision.

+ To ensure the system of synchronous and modern physical foundations and socio-economic infrastructure facilities for convenient and fast connection with various regions and areas throughout the country, and with the region and the world.

- By 2045:

+ To proactively prevent and restrict the state of natural resource degeneration and environmental pollution, and respond to climate change and sea water rise. To conserve and sustainably use natural resources.

+ To complete physical foundations and synchronous and modern infrastructure facilities for connecting the country with the globe, which are on par with developed countries.

c/ Regarding financial resources

- By 2025:

+ To firmly maintain the national financial security; to ensure positive budget balance, gradually reducing the state budget deficit ratio to below 4% of GDP by 2020, then to about 3% of GDP by 2030, toward state budget revenue-expenditure balance. By 2030, the public debt-to-GDP ratio will not exceed 60%, the government debt-to-GDP ratio will not exceed 50%, and the nation’s foreign debts will not exceed 45% of GDP.

+ By 2020, to basically complete and by 2025 to complete the rearrangement and handling of state-owned land and houses nationwide; to complete the relocation of environment-polluting establishments and establishments subject to relocation under approved master plans.

+ By 2025, the national reserves level will reach 0.8%-1% of GDP. The debit balance of the bond market will reach 55% of GDP.

- By 2035:

+ The national reserves level will reach 1.5% of GDP. The debit balance of the bond market will reach 70% of GDP. Capital sources mobilized for the economy by insurance enterprises will account for 20%-30% of the total long-term investment capital source.

+ The state budget revenue from land will represent 10% and revenue from public asset exploitation will be 5% of the annual total state budget revenue.

- By 2045:

+ The national reserves level will reach 2% of GDP. The debit balance of the bond market will be 80% of GDP. Capital sources mobilized for the economy by insurance enterprises will account for 30%-50% of the total long-term investment capital source.

+ To stabilize the state budget revenue from land at 10% and revenue from public asset exploitation at 5%-7% of the total state budget revenue.

II. MAJOR TASKS AND SOLUTIONS

1. Tasks assigned in previous documents

Ministries, sectors and localities shall, according to their assigned functions and tasks, continue performing regular and continuous tasks in a synchronous and effective manner, including the tasks of reviewing, and proposing amendment and supplementation of, documents in Appendix I to this Program, with a view to efficiently using resources and bringing them into the fullest play, then report thereon to the Government and the Prime Minister in the second quarter of 2020.

2. New tasks

a/ Regarding human resources

- The Ministry of Labor, Invalids and Social Affairs shall:

+ Finalize the system of policies and laws on vocational education toward standardization of quality assurance conditions, modernization, socialization, international integration, vocational education development associated with labor market, sustainable employment, scientific and technological development, sector development, and stepping up of training to meet demands and objectives of enterprises and requirements of the Fourth Industrial Revolution, international integration and national sustainable development.

+ Improve the working conditions and environment in order to create impetus for and encourage efficient and creative labor.

- The Ministry of Education and Training shall:

+ Finalize institutions, mechanisms and policies on higher education and training toward substantive and comprehensive renewal, standardization, modernization, socialization, financial autonomy, and international integration; develop education and training in association with scientific and technological development to meet labor market demands, ensuring conformity with development requirements and conditions of each region and area throughout the country.

+ Determine demands for labor with high professional qualifications (bachelor, master and doctor degrees) for each field and establish legal corridors for intensified training of high-quality human resources, enhancing linkage between training units and employers.

- The Ministry of Home Affairs shall:

+ Assume prime responsibility for, and coordinate with related ministries and sectors in, performing the tasks assigned in the Government’s Resolution No. 107/NQ-CP of August 16, 2018, on the Government’s action program for implementation of Resolution No. 27-NQ/TW of May 21, 2018, of the 7^thplenum of the Party Central Committee, the XII^thCongress, on the reform of wage policies for cadres, civil servants, public employees, the armed forces and employees in enterprises.

+ Review, amend and supplement documents concerning the recruitment, employment and management of cadres, civil servants and public employees on the principle of distribution of human resources in the public sector, limiting imbalance in professional qualifications and capacity of human resources between urban areas and rural areas and between commune level and district as well as provincial levels.

- The Ministry of Labor, Invalids and Social Affairs, the Ministry of Health and the Ministry of Finance shall, based on their assigned functions and tasks, assume prime responsibility for finalizing the institutions on social insurance, unemployment insurance and health insurance; financial regimes applicable to social insurance, unemployment insurance and health insurance funds.

- Ministries, sectors and provincial-level People’s Committees shall:

+ Promulgate policies to attract high-quality human resources from foreign countries to work in Vietnamese agencies, organizations or enterprises.

+ Apply sciences and technologies, and change the labor structure in order to gradually reduce the ratio of agricultural, forestry and fisheries labor; step up the training and raise the quality of training of rural labor, ethnic minority people and other policy beneficiaries, linking training with employment creation.

+ Renew the management and mode of operation of associations, mass organizations, and socio-professional organizations, etc., in human resource development; vigorously develop the mass media system, increase opportunities and build capacity for people to access information and enjoy cultural and entertainment and recreation services for a healthy spiritual life with a view to quickly regenerating and developing their working capacity and creative ability.

+ Step up the delegation of autonomy and self-accountability to public non-business units and organizations in the management and employment of human resources.

+ Effect social supervision, ensuring the role of community supervision, and promoting the role of mass organizations and social organizations in supervising the quality of human resource training.

b/ Regarding material resources

- With respect to natural resources

+ The Ministry of Resources and Environment shall:

• Finalize institutions, mechanisms and policies, creating the legal framework for regulating land quotas and effecting the concentrated land accumulation to restructure agriculture, develop hi-tech large-scale intensive and specialized farming zones, and develop economic zones, industrial parks, export processing zones and hi-tech parks.

• Finalize institutions, mechanisms and policies, creating the legal framework to boost the construction of national geospatial data infrastructure in conformity with international standards in order to provide basic, important and necessary input data serving e-government, territory and border management, socio-economic development, natural disaster prevention and control, and environmental protection.

• Finalize institutions, mechanisms and policies on conservation of biodiversity, and protection of land and air resources.

• Formulate a strategy on integrated and sustainable development of marine economy based on green growth, and conservation of biodiversity and marine ecosystems; and associate marine economy with the safeguarding of national sovereignty, and protection of marine and island resources and environment.

• Survey and fully and substantively assess potentials of mineral resources, particularly deep-lying minerals; inventory the real situation of the country’s mineral resources for full cost-accounting in economic activities; apply advanced methods in mineral resource governance; and intensify the inspection and supervision of mineral activities and the auction of mining rights.

• Step up water resource survey, assessment and planning activities; build water resource monitoring stations; supervise the exploitation and use of water resources and the discharge of wastewater; and apply solutions for storage and thrifty use of water sources.

• Carry out biodiversity-related survey and inventory to serve management, conservation and sustainable development activities.

• Complete the construction of a synchronous database of the natural resource and environment sector, creating an electronic ecosystem to provide, share, use and update data information and exploit the values of digital resources regarding natural resources and environment as infrastructure facilities and resources for the development of digital economy and digital society of the country.

+ The Ministry of Agriculture and Rural Development shall:

• Restructure crop and livestock production suitable to reality and market demands and adaptable to climate change.

• Intensify the application of scientific advances, particularly biotechnology, in development of agriculture, improvement of people’s lives and protection of the eco-environment.

• Manage and use sustainably and efficiently the area of natural forests, combining forest protection and exploitation with conservation of biodiversity and protection of landscapes and the eco-environment.

• Protect and sustainably develop 100% of existing and new forest areas; do away with violations of the law on forest protection and development; and effectively bring into play the forests’ function of protection of the eco-environment and biodiversity.

• Apply solutions to prevent and combat desertification and forest degeneration, protect land and water resources, and increase the vegetation cover and land productivity in affected areas; reduce the area of degenerated forests and improve the forest quality through increasing forest carbon deposits; and draw the national map of forest degeneration.

• Raise the effect and efficiency of operation of the forest protection force from the central to local level to make it be capable of efficiently performing the tasks of forest management, protection and development, creating the substantive improvement in preventing and fighting acts of violating the law on forest protection and development.

• Further step up the mobilization of social resources for forestry activities; finalize the policy on payment of forest environment service charges for creating a stable source of revenues; and organize forestry production activities based on value chains and widely apply the models of cooperative economy in forestry.

• Diversify resources for prevention and control of natural disasters, climate change and sea level rise through stepping up the mobilization of social resources and adopting appropriate mechanisms and policies in order to raise more funds for natural disaster prevention and control, particularly non-state budget funds.

• Review and adjust mechanisms and increase the decentralization of powers for ensuring the fast and prompt mobilization of resources by authorities at all levels to meet the requirements of emergency response to natural disasters.

• Review and identify zones affected by disaster risks and adjust degrees of disaster risks as suitable to the characteristics and extent of impacts of natural disasters in each zone; and periodically supplement, adjust and concretize climate change scenarios.

• Build disaster warning towers to be concurrently used as grassroots public-address systems to promptly provide information to people in high-risk areas, giving priority to coastal areas, islands, and mountainous, deep-lying and remote areas.

• Raise the quality of natural disaster prediction and warning with the reliability being on par with the advanced level of the Asian region; intensify human resource training and upgrade equipment and technologies for natural disaster monitoring, analysis, prediction and warning, especially numerical disaster prediction technologies.

+ Ministries, sectors and provincial-level People’s Committees shall:

• Scrutinize the area and status of land allocated to users, particularly large-scale state enterprises and state capital-funded enterprises; resolutely handle inadequacies in land management and use by agricultural or forestry companies, especially the illegal encroachment, transfer, use purpose change, lease, lending or contracting of land areas.

• Timey prevent and severely handle acts of polluting water sources, soil and air, or exploiting natural resources without permission or in contravention of permits.

- With respect to physical foundations and socio-economic infrastructure facilities

+ The Ministry of Planning and Investment shall:

• Review, formulate and resolutely implement solutions, especially solutions related to mechanisms, policies and resource mobilization, with a view to building, and creating breakthroughs in, economic infrastructure systems to meet socio-economic development requirements of the country. Develop infrastructure facilities in association with the tasks of environmental protection, response to climate change and national defense and security maintenance.

• Formulate documents guiding the implementation of the Law on Public Investment, focusing on the provisions guiding, and formulating criteria for, evaluation and appraisal of socio-economic efficiency of public investment projects.

• Expeditiously study and formulate the law on investment in the form of public-private partnership (PPP) on the basis of ensuring investment efficiency, and balancing the interests of the stakeholders.

• Finalize mechanisms on investment decentralization and capital distribution, promoting the proactivity, creativity and higher responsibility of local administrations of different levels in making investment decisions (forms of contractor selection, quality and efficiency of projects, etc.) and developing infrastructure, ensuring unified management.

• Intensify supervision, examination and inspection and strictly handle violations, causing loss and waste.

• Formulate and properly implement medium-term and long-term development investment plans for investment projects on physical foundations and socio-economic infrastructure facilities.

+ Ministries, sectors and provincial-level People’s Committees shall:

• Review and finalize institutions, mechanisms and policies to mobilize more resources from the non-state sector for investment in the development of physical foundations and infrastructure facilities serving socio-economic development.

• Concentrate efforts on finalizing institutions, mechanisms and policies on mobilization and efficient use of resources for infrastructure development, particularly in the fields of land, construction, investment, and bidding, ensuring the harmony of interests between the State, investors and infrastructure users. Apply solutions of information publicity and transparency and formulate supervisory mechanisms for people of all strata to participate in supervising task performance by ministries, sectors and localities.

• Expeditiously formulate and accomplish the tasks of sectors and localities assigned in the Government’s Resolution No. 16/NQ-CP of June 8, 2012, promulgating the Action Program for implementation of Resolution No. 13-NQ/TW of January 16, 2012, of the Party Central Committee, on construction of synchronous infrastructure systems with a view to basically making Vietnam an industrial country toward modernization by 2020 (below referred to as Resolution No. 13-NQ/TW). Ministries, sectors and localities shall continue resolutely directing and early completing national important projects and projects with spillover effects, creating foundations for approaching, and grasping the opportunities offered by the Fourth Industrial Revolution and digital economic infrastructure.

• Study the Scheme on construction of synchronous infrastructure systems for the 2021-2030 period in the spirit of Resolution No. 13-NQ/TW so as to identify central tasks to ensure the development of synchronous and modern infrastructure systems.

• Further realize the Scheme on restructuring of public investment, ensuring the attraction of investment resources for socio-economic development.

• Intensify the appraisal of investment, especially for public investment projects, eliminating projects with low socio-economic efficiency right from the appraisal stage.

• Scrutinize the progress of implementation of investment projects, terminating investment in inefficient projects, focusing on and giving priority to investment in urgent and focal works, and synchronous and connected infrastructure facilities with a view to promoting investment efficiency and creating impetus for socio-economic development.

• Intensify the inspection, examination, consultancy and independent supervision, including community-based supervision, with a view to raising the construction quality; strictly control investment and shorten the implementation schedule of projects for their efficient operation and management.

• Increase the application of information technology and modern governance methods in organizing the construction, management, exploitation and use of physical foundations and socio-economic infrastructure facilities.

• Expeditiously build an e-government toward a digital government, digital economy and digital society.

c/ Regarding financial resources

- With respect to public debt management

+ The Ministry of Finance shall:

• Continue resolutely implementing the guiding viewpoints, policies and solutions to restructure the state budget and manage public debts for a safe and sustainable national financial system as set out in the Political Bureau’s Resolution No. 07-NQ/TW of November 18, 2016, and the Government’s Resolution No. 51/NQ-CP of June 19, 2017, on the Government’s Action Program for implementation of Resolution No. 07-NQ/TW.

• Compare, scrutinize, assess and sum up loan demands of ministries, sectors, localities and units using public loans in order to forecast the total amount of borrowed loans and payable debts of the central budget and local budgets, and the quota of loans for on-lending and quota of government guarantee after 2020; apply debt management instruments serving the formulation of the five-year (2021-2025) plan on borrowing of loans and payment of public debts for reporting to the Prime Minister and the Government for submission to the National Assembly for consideration and decision.

• Proceed with the restructuring of the list of government bond debts; study the formulation of a Scheme on restructuring of the Government’s international bonds due in 2020 and submit it to the Prime Minister for consideration and decision.

• Further boost the extensive and intensive development of the domestic capital market and government bond market toward diversification of debt instruments and investors, giving priority to long-term investors and attracting foreign investors into these markets.

• Formulate a Scheme on accelerated application of information technology in public debt management in order to modernize the management of foreign loans through upgrading the information technology system, ensuring the regular and timely updating of information on negotiation, conclusion, implementation and capital disbursement, and report it to the Prime Minister for consideration and decision.

+ The State Bank of Vietnam shall strictly control the implementation of quotas of foreign loans without government guarantee which are borrowed and paid by enterprises and credit institutions themselves, ensuring that they are within the approved quotas.

- With respect to funds for environmental protection and climate change response

Ministries, sectors and provincial-level People’s Committees shall:

+ Ensure that at least 1% of the total budget expenditure shall be allocated for non-business activities of environmental protection in strict accordance with the Prime Minister’s Decision No. 34/2005/QD-TTg of February 22, 2005, promulgating the Government’s Action Program for implementation of the Political Bureau’s Resolution No. 41-NQ/TW of November 15, 2004, on environmental protection in the period of accelerated national industrialization and modernization.

+ Mobilize to the utmost capital sources of enterprises, organizations and individuals for treatment of environmental pollution; step up the mobilization of social resources in the field of environment under the Government’s Decree No. 69/2008/ND-CP of May 30, 2008, on the policy to encourage the mobilization of social resources for activities in the fields of education and training, vocational training, healthcare, culture, sports, and environment.

- With respect to development of the bond market

The Ministry of Finance shall assume the prime responsibility for, and coordinate with other ministries, sectors and localities in:

+ Increasing the extensiveness, intensiveness and liquidity of the bond market; raising the commodity quality and studying and deploying new products in conformity with market demands, ensuring the stable liquidity of the market components.

+ Diversifying investors, developing organized investors, promoting long-term foreign investment, raising the quality of individual investors, ensuring a rational structure between individual investors and organized investors and between domestic investors and foreign investors, and promoting the development of professional investors.

+ Increasing the efficiency, publicity and transparency of the market; finalizing the model of operation administration and risk administration apparatus in order to increase the efficiency of organization and operation of the Vietnam Stock Exchange; developing synchronous infrastructure and modern information technology systems for the market, enabling its connectivity with markets in the region and the world; and building the capacity of state management agencies in management, supervision, inspection and enforcement coercion activities.

- With respect to the management of public property

+ The Ministry of Finance shall assume the prime responsibility for, and coordinate with other ministries, sectors and localities in:

• Formulating and finalizing documents guiding the implementation of the Law on Management and Use of Public Property toward building a Code on Management and Use of Public Property and guiding documents.

• Reviewing and finalizing financial mechanisms and policies on land, natural resource exploitation, and infrastructure asset exploitation.

• Expanding and upgrading the national database on public property; building and putting into operation the system of e-transactions on public property; and develop the software for monitoring and managing the rearrangement and handling of houses and land of agencies, organizations, units and enterprises.

+ Ministries, sectors and provincial-level People’s Committees shall:

• Expeditiously complete the formulation and approval of schemes on rearrangement and handling of houses and land managed by agencies, organizations, units and enterprises under the law on management and use of public property; review, inspect and urge the implementation of the approved plans on rearrangement and handling of houses and land, and update information on rearrangement of houses and land to the software developed and operated by the Ministry of Finance.

• Proactively scrutinize public property under their management, thereby efficiently exploiting public property, creating revenue sources for the state budget, and avoiding loss and waste.

+ Provincial-level People’s Committees shall:

• Expeditiously formulate and publicize master plans on urban construction and development; on that basis, make and issue according to their competence the lists of establishments to be relocated before December 31, 2020, or coordinate with related ministries and sectors in reporting such lists to competent authorities for approval.

• Direct the review of land management and use dossiers of land users in accordance with the land law; on that basis, collect land use levy and land rental under regulations, limiting the loss of state budget revenues from land.

- With respect to securities

The Ministry of Finance shall assume the prime responsibility for, and coordinate with other ministries, sectors and localities in:

+ Finalizing the legal framework, focally the Securities Law in synchrony with the Law on Enterprises and the Law on Investment, toward simplification of conditions and dossiers for issuance of securities in association with enhancing the obligation of issuing institutions to disclose information; shortening the process of approving the listing, issuance and trading of stocks and bonds to promote enterprises to raise capital and investors to participate in the capital market; increasing the jurisdiction of the State Securities Commission in inspection work and handling of violations, and increasing the maximum fines in administrative sanctions.

+ Concentrating on the application of solutions to restructure the stock market under the Prime Minister’s Decision No. 242/QD-TTg of February 28, 2019, approving the Scheme on “Restructuring of the stock market and the insurance market through 2020 and orientations toward 2025”. Restructuring the stock trading market, including the reorganization of the Hanoi Stock Exchange and Ho Chi Minh City Stock Exchange for the establishment of the Vietnam Stock Exchange.

+ Continuing to deploy derivatives and covered warrants; scrutinizing all VN30 stock indexes and studying the formulation of new stock indexes.

+ Developing investors in the capital market, including institutional and individual professional investors. Prioritizing the participation of long-term investors in order to create sustainable investment demands in the capital market.

+ Raising the efficiency of stock market management and supervision, severely handling violations. Intensifying the coordination between management bodies and stock exchanges in supervising, detecting and severely handling violations on manipulation, inside informants, fraud, and breach of the information disclosure obligation.

- With respect to state reserves

The Ministry of Finance shall assume the prime responsibility for, and coordinate with other ministries, sectors and localities in:

+ Reviewing and assessing the Law on National Reserves and guiding documents in order to formulate and complete the legal framework on national reserves; completely building the system of national technical standards and techno-economic norms on national reserves commodity items as a basis for administration of national reserves operations.

+ Formulating the strategy on development of national reserves through 2030 and orientations toward 2040, and the overall plan on the system of national reserves warehouses through 2030; at the same time, formulating and finalizing the detailed plan on the system of national reserves warehouses through 2030.

+ Increasing national reserves resources toward focusing on essential and strategic commodities of high economic value and high use frequency; coordinating with localities in proactively arranging national reserves resources; and annually reviewing and adjusting the lists of national reserves commodities as suitable to socio-economic conditions, meeting the targets of national reserves.

+ Mobilizing resources from the state budget to enhance the national reserves fund.

+ Increasing state budget resources for construction of modern physical and technical foundations, infrastructure facilities and storehouses of national reserves. Studying the promulgation of policies on mobilization of investment capital from social resources and priority mechanisms for investors such as legal assistance, tax, land, and other supports.

- With respect to insurance

The Ministry of Finance shall assume the prime responsibility for, and coordinate with other ministries, sectors and localities in:

+ Finalizing institutions on development of the insurance market according to the line and policies of the Party and the State, and resolutions of the Government, including:

• Revising the Law on Insurance Business in 2020 while formulating guiding documents toward risk management to meet international integration requirements, enhance the proactivity and accountability of insurance enterprises in business activities, risk administration and personnel administration, and regulations on insurance contracts.

• Diversifying new product lines to better meet different demands of organizations and individuals; formulating mechanisms and policies for development of products serving the community and social security activities such as micro-insurance, health insurance, retirement insurance, etc.; developing diversified distribution channels in order to bring insurance to every citizen and stepping up the development of insurance business activities toward professionalism to catch up with the development of the Fourth Industrial Revolution and best serve insurance buyers.

• Upgrading infrastructure and information technology systems to modernize the insurance management model, intensifying the connectivity between the State and insurance enterprises as well as the insured.

• Increasing the transparency of information of insurance enterprises and stepping up communication about insurance.

• Developing, and raising the quality of, human resources of the insurance market; studying then applying the framework of capacity standards suitable to the market reality and development.

• Enhancing the role of professional associations. Increasing the connection between state management bodies and organizations directly implementing commercial insurance and compulsory insurance. Raising the effect of state management and efficiency of inspection, examination, supervision and administrative sanctioning in the field of insurance.

+ Improving mechanisms to promote the development of insurance, and attract foreign investment, creating a prerequisite for recovery of investment capital sources for the economy, including:

• Regarding property damage, liability to compensate a third party, and production and business damage: To enhance proactivity and accountability of organizations and individuals for measurable and anticipatable risks. The State will not use budget funds for financial assistance or rescue, and not allow the setting up of funds for tax regulation and preferences, etc., for these risks; organizations and individuals shall take the initiative in management of or participation in insurance or apply appropriate risk management modes. The State will only provide assistance in case of humanity and catastrophe.

• Regarding social security policies: The State shall guarantee fundamental interests for people and provide social relief to disadvantaged people; at the same time adopt policies on provision of financial assistance for insurance enterprises and the insured, such as tax incentives for social security insurance products (retirement insurance, health insurance, micro-insurance).

+ Consolidating the investment environment and diversifying financial instruments in order to promote insurance enterprises, especially foreign insurance investors, to actively make long-term investment, including the following solutions:

• To develop the national bond fund for infrastructure construction.

• To raise the financial market information transparency, and establish the credit-rating system so as to provide investors in general and insurance enterprises in particular with reliable information sources and increase investment.

• To encourage the mobilization of social resources for investment in projects serving social security and social progress such as schools and hospitals, permitting insurance enterprises to invest in these projects.

- With respect to corporate finance

To assign the Ministry of Finance to assume the prime responsibility for, and coordinate with related units in, formulating a draft government decree guiding the Law on the State Budget’s provisions on collection and use of revenues from equitization and divestment of state capital at enterprises.

- With respect to state budget

The Ministry of Finance shall assume the prime responsibility for, and coordinate with other ministries, sectors and localities in, firmly maintaining the national financial security; ensuring positive budget balance toward gradually reducing the state budget deficit, with synchronous application of the following solutions:

+ Regarding state budget revenues: To finalize policies on collection of revenues in association with restructuring state budget revenues to cover all revenue sources and expand revenue bases, particularly new revenue sources, in conformity with international practices. To increase the ratio of domestic revenues, ensuring a rational ratio between indirect taxes and direct taxes, and properly implementing taxes from assets, natural resources, and environmental protection, etc.

+ Regarding state budget expenditures: To renew the management of state budget expenditures in conformity with the socialist-oriented market economy, clearly identifying the role and functions of the State and the market; to review social policies and social security policies in order to ensure the concentrated and efficient use of budget funds. To raise the efficiency of state budget expenditures, incrementally managing state budget expenditures based on task performance in association with the attainment of socio-economic development objectives.

3. Updating of databases on resources

a/ The Ministry of Planning and Investment shall:

- Formulate draft reports and criteria for assessment of groups of resources and send them to ministries, sectors and localities for making annual and 5-year reports, which shall be completed in the third quarter of 2020.

- Assume the prime responsibility for, and coordinate with related units in, reviewing and updating once every 5 years information on the management, exploitation, use and promotion of resources of the economy for reporting to the Government for subsequent reporting to the Political Bureau.

b/ Ministries, ministerial-level agencies, government-attached agencies and provincial-level People’s Committees shall review and update once every 5 years information on the management, exploitation, use and promotion of resources of the economy in the fields under their respective management.

III. ORGANIZATION OF IMPLEMENTATION

1. Based on their assigned functions and tasks, ministries, ministerial-level agencies, government-attached agencies and provincial-level People’s Committees shall:

- Heighten the sense of responsibility of heads in the public, transparent and efficient management, allocation and use of resources.

- Properly carry out information and communication in the mass media in appropriate forms with a view to raising the awareness and promoting the sense of responsibility of heads, and efforts of various sectors and levels and people in successfully achieving the objectives stated in Resolution No. 39-NQ/TW.

- Synchronously and efficiently perform the tasks stated in Resolution No. 39-NQ/TW and this Resolution.

- On December 25 every year, report on the performance of the tasks related to human resources to the Ministry of Labor, Invalids and Social Affairs, performance of the tasks related to natural resources to the Ministry of Natural Resources and Environment, performance of the tasks related to physical foundations and socio-economic infrastructure facilities to the Ministry of Planning and Investment, and performance of the tasks related to financial resources to the Ministry of Finance. In the first quarter of the following year at the latest, the Ministry of Labor, Invalids and Social Affairs, Ministry of Resources and Environment, and Ministry of Finance shall sum up information from such reports into groups of resources and send them to the Ministry of Planning and Investment for summarization and reporting to the Government and the Prime Minister.

2. In the course of implementation of this Resolution, ministries, sectors and localities shall, if deeming it necessary, proactively propose amendments or supplementations to the ministries in charge of corresponding groups of resources for summarization and reporting to the Government for consideration and decision.-

On behalf of the Government
Prime Minister
NGUYEN XUAN PHUC