Thực trạng

The GFC has impacted the following sectors of the Vietnamese economy:
 For export-import, there are effects on such aspects as imports from other
countries decrease, our exports decrease, moreover, the prices of commodities
decrease, so although the total output of exported goods still increases, the total
value of exports still increases. exports are still down. That is not to mention that
export business enterprises and export production enterprises have difficulty
mobilizing capital for their production and business activities. In August 2008, we
exported 6.1 billion USD, in September 2008 it decreased to 5.3 billion USD. In
2009, the possibility of exports will not increase due to the impact of the world
economic crisis on the above-mentioned aspects. Imports for the first 10 months of
2008 increased by 42.6% and the trade deficit was equal to 30.3% of total export
turnover. In 2009, imports will decrease but not much, and the possibility of a
trade deficit will be high.
 Banking system: There are 3 US bank branches currently operating in Vietnam: JP
Morgan Chase, Citibank and FERB. However, there has not been a serious impact
on the banking activities of these branches in Vietnam. In the Vietnamese banking
system, there will be some indirect, but not significant, impacts. Some possible
impacts are the movements of the USD exchange rate and interest rates. The US
dollar had complicated movements due to the anxiety of investors. The crisis in
the US can make people predict that the USD will seriously depreciate, and they
can withdraw USD from the bank, or sell USD to buy VND to deposit. 
  In terms of finance, budget and insurance, there are some slight impacts such as
reducing state budget revenue, or people will reduce insurance activities, but these
issues are stable.
 Foreign investment in our country: can be considered from various angles and
aspects such as Foreign direct investment in our country (FDI); indirect
investment through the stock market (FII), Official Development Aid (ODA),
Foreign debt, and other sources.

Giải pháp: 
Firstly, continue to implement groups of anti-inflation solutions, especially continuing the
tight but flexible and cautious monetary policy according to the market mechanism
(without introducing shock solutions). Effectively use monetary tools with flexible
adjustment according to market movements such as exchange rate, interest rate, credit
limit, etc. In the immediate future, lower interest rates appropriately according to market
signals. Handling bad debts of commercial banks, ensuring these debts are at a safe level.
Review and strictly control real estate and securities business loans. In addition to
renovating and restructuring the banking system, it is necessary to renew the internal
governance of the bank to make this system healthy to avoid the impact of the world
economic crisis.
Second, strengthen government supervision over the financial system, banking and stock
market. Reviewing and sanitizing the financial and banking system. Review banks that
lend heavily to real estate and high-risk projects. Check the credit quality of commercial
banks, especially credit for risky fields such as real estate and securities. Building an
early warning system with specific criteria to have contingency plans and solutions for
bad fluctuations in the banking and financial system.

Thirdly, promote production and business, have policies to support agriculture to

overcome the consequences of storms and floods, support people to produce food and
food and poor people in remote and isolated areas, and create favorable conditions for
agriculture. to efficient businesses. Having policies on corporate income tax exemption
and reduction, especially for small and medium-sized enterprises, reduces the progress of
the collection of import tax, excise tax and value-added tax on imported goods in case of
high inflation and economic depression. Focus on removing difficulties and creating
conditions to boost production and business activities in the last months of the year.

Fourth, continue policies on tight government spending and public sector investment to
avoid the risk of a budget deficit. Tightening government spending and shifting public
investments to the private sector will contribute to lower corporate and personal income
taxes. Enterprises will have more capital to expand production, business, and markets. To
step up investment in large and important infrastructure and technical infrastructure
projects that in the past had no investment conditions, now invest to stimulate economic
development.

Fifth, reform and remove obstacles in administrative procedures, site clearance, project
approval and disbursement to facilitate rapid implementation of projects and programs,
especially for construction companies. For real estate business, besides promoting and
encouraging investment and building low-cost houses for the poor, policy beneficiaries,
housing for workers in concentrated economic zones and industrial zones, and housing
for students, students should be limited and taxed in cases of real estate speculation.

Sixth, diversify export markets, to avoid the impact of the reduction in imports of the US
and some countries heavily affected by the financial and world credit crisis and
strengthen new markets. , moving towards expanding the domestic market. Apply policy
measures to encourage the development of export production, rapidly increase export
turnover and reduce the trade deficit. Implement a flexible exchange rate regime to
support exports and increase preferential credit levels for export production.

Strengthening and promoting the development of the domestic market, especially in the
stages of purchasing agricultural raw materials, ensuring a close connection between the
development of raw material production areas with the processing and export industries,
and developing the system distribution of important supplies and retail systems,
improving service quality and ensuring food safety.
Seventh, closely monitor foreign investment capital sources into our country, continue to
improve the investment environment, and step up foreign investment promotion,
including monitoring the implementation of investment projects. directly abroad from the
US and European countries to be able to support when needed.

Eighth, well organize, administer, and supervise to ensure the smoothness of domestic
retail establishments, without causing speculation, congestion, and scarcity of goods. At
the same time, encourage rational consumption and raise the minimum wage early for
state officials and employees and workers in enterprises.

Ninth, strengthen information and public relations work. Regularly follow up, and update
information at home and abroad to have a proper assessment of the situation; thereby
obtaining the most appropriate and timely policy response.