Solutions to remove difficulties against production and business, support the market and deal with non-performing loans

RESOLUTION

On solutions to remove difficulties against production and business, support the market and deal with non-performing loans

To realize the socio-economic development objectives and targets for 2013  approved by the National Assembly, namely curbing inflation, stabilizing the macro-economy, ensuring social security, gradually restructuring the economy towards higher quality, effectiveness and competitiveness, creating changes since the beginning of year, striving to successfully achieve the socio-economic development indices set for 2013, while taking measures to remove difficulties to facilitate enterprises’ production and business, and step by step handling bad debts in association with supporting market development, the Government requested the ministers, heads of ministerial-level agencies and Government bodies, and Chairmen of the People’s Committees of provinces and centrally-governed cities, to stringently follow their assigned functions and tasks to proactively monitor the reality and instruct the synchronous, drastic, and effective implementation of targets and tasks as said Party and National Assembly resolutions and the Government’s Resolution 01/NQ-CP dated January 7, 2013 on major solutions to the implementation of socio-economic development plan and State budget estimates for 2013; and at the same time, focusing on deploying measures to remove difficulties against production and business, support the market and deal with bad debts.

I. HANDLING INVENTORIES, REMOVING DIFFICULTIES AGAINST ENTERPRISES, BOOSTING PRODUCTION

1. Handling stagnant inventories, supporting the market and investment

a) To focus on practical measures to speed up the disbursement of capital for projects and programs with grave importance within their management scope, particularly those enjoying investment capital sourced from the State budget, Government bonds, and capital allocated for national target programs, in line with regulations.

To immediately allocate investment capital and accelerate the implementation of projects designated for 2013, especially the mega projects of significant social importance and projects to develop new style rural areas, social housing and dormitories for students. To examine investors’ observation of their commitments, and address the slow processing of procedures on investment, bidding, check-and-takeover and capital settlement.

b) To implement synchronous solutions to expand local and foreign markets by increasing trade, tourism and service promotion activities in a proactive, positive and effective manner. To take effective measures to support enterprises in selling locally-made products in the local market and rural areas; encourage enterprises to partner in distributing locally-made goods; speed up the campaign “Vietnamese people prioritize using Vietnamese goods”.

To accelerate the approval and deployment of overseas trade promotion programs, and early sign trade agreements with foreign partners. To soon ratify overseas trade promotion projects scheduled for 2013; closely monitor and update market situation, timely supplement effectively-operating (trade promotion) projects, and develop additional supportive plans with the focus on expanding potential markets then submit them to competent authorities for consideration and making decision.

To improve the effectiveness of the implementation of measures to combat smuggling, design specific projects suitable for each region, each commodity, and each subject (land border gates, railways, waterways, international seaports; air routes-international post; roads where commodities temporarily imported for re-export or transported from border-gate to border-gate; vehicles, and visitors in transit). To intensify the management of activities of temporarily importing commodities for re-export, transporting commodities from border-gate to border-gate, depositing commodities in warehouses, trading by border residents, importing and exporting at free-tax zones, and bringing into the country commodities without customs declaration to prevent trade fraudulences and tax evasion.

c) To review mechanisms and policies for revising and supplementing or submitting amendments and supplements to competent agencies abolish improper investment barriers, create favorable conditions in terms of infrastructure, site clearance, human resources, administrative procedures, etc.

d) To implement proper measures to boost the attraction as well as using of foreign direct investment (FDI), focusing on luring new waves of large-scale investments and high technologies. To speed up education and supply of human resources according to enterprises’ demand; quickly establish partnerships on human resource development and technology transfer with foreign companies.

dd) To ensure necessary conditions for further attracting and spending official development assistance (ODA) capital, focusing on clearing site and guaranteeing supply of corresponding capital for socio-economic infrastructure projects, particularly those in the fields of electricity and transport.

e) To synchronously deploy measures, especially those relating to credit capital and lending rates to ease difficulties for the sectors with high inventories, such as agriculture, industry, construction, etc.., create all possible conditions to encourage investment and production of advantageous products, especially in the agriculture, tourism and service sectors.

g) To enhance supervision over the market and prices to ensure the quality and reasonable prices of essential commodities, especially prices of milk, medicine, pesticides, and fertilizer, etc.

h) To continue beefing up the reform of administrative procedures pertaining to production, business, investment, especially those relating to investment, credit, tax, customs, real property, business registration, etc.

i) Localities with huge real estate inventories shall minimize the use of State budget to invest in building new resettlement areas but prioritize this source of capital and other legal funds for buying commercial buildings suitable for converting into resettlement or social housing, which are affordable for rent by policy beneficiaries, including low-income earners, officials and pubic employees, servicemen, workers and laborers. The Ministry of Finance is responsible for making calculations and reporting them to the Government so that the Government can allocate in advance part of the State budget to localities to address the issue.

k) To closely monitor both local and foreign markets to be proactive in forecasting and taking necessary regulatory measures. To speed up disseminating information on the Government’s regulatory policies and solutions using various forms to ensure the truth and objectiveness of the information so as to create a social consensus; enhance openness and transparency, and proactively provide information on social issues concerned the public.

2. Reducing production and business costs and enabling enterprises to lower product prices and boost consumption

a) To offer a six-month extension of corporate tax payment scheduled for the first quarter and a three-month extension of corporate tax payment scheduled for the second and third quarters of 2013 for the following subjects:

- Small and medium-size enterprises (which employ as many as 200 laborers working full-time and have annual maximum revenues of below VND 20 billion). The rescheduled corporate tax shall not include the tax imposed on incomes sourced from financial, banking, insurance, securities, lottery activities, prize-winning games and incomes sourced from the business of goods and services subject to special consumption tax.

- Enterprises use intensive work force (over 300 laborers) operating in the fields of production, outsourcing, and processing of agro-forestry-aquaculture products, garments, footwear, electronic parts; construction of socio-economic infrastructural works.

- Enterprises, which are engaged in investing and trading (selling, leasing, and offering lease and sale services), residential housing shall be offered corporate tax payment rescheduling for incomes sourced from investing and trading residential housing, without taking into account their business size and the quantity of laborers they employed.

b) To offer a six-month rescheduling of value-added tax payment scheduled for January, February, and March, 2013 to the following enterprises, which are fulfilling their value-added tax obligations through the deduction method:

- Small and medium-size enterprises (which employ as many as 200 laborers working full time and gain an annual revenue of below VND 20 billion). Enterprises operating in the fields of finance, banking, insurance, securities, lottery, prize-winning games, production of goods and services subject to special consumption tax are excluded.

- Enterprises employ a large quantity of laborers (over 300 laborers) and operate in the fields of production, outsourcing, processing of agro-forestry-aquaculture products, garments, footwear, electronic components; construction of socio-economic infrastructural works.

- Enterprises, which invest and trade (sell, lease, and offer lease and sales services) residential houses, and enterprises, which are involved in manufacturing iron, steel, cement, bricks, tiles (rescheduled value-added tax payment is only applicable to incomes sourced from products like houses, iron, steel, cement, bricks, and tiles; in case the income can not be separated, the rescheduled value-added tax shall be calculated on the ladder of revenues).

c) Reimbursing environmental protection tax paid from January 1, 2012 to November 14, 2012 for nylon bags which are used for packaging as stipulated in the Government’s Decree No. 69/2012/ND-CP dated September 14, 2012.

d) Policies regarding the collection of fees to restrict personal road vehicles shall not be promulgated. To reduce registration fees for cars with less than 10 seats in the direction: (i) for cars registering for the first time. The common fee level is fixed at 10%, which shall not be allowed to increase by over 50% by localities; (ii) for cars registering from the second time. The common fee level is 2% and applicable nationwide.

dd) To offer a reduction of 50% of land rent in 2013 and 2014 for economic organizations, households and individuals, whose rental of the State’s land, as stipulated in the Government’s Decree No. 121/2012/ND-CP dated December 30, 2010, exceeds the amount paid in 2010 by more than two folds (as calculated in accordance with policies on land use rental before the effect date of Decree No. 121/ND-CP). If the land rental, after enjoying the reduction, is still more than two times of the 2010 amount, further reduction shall be made until the rental stays at a level of two times of the 2010 figure. 

Regulations regarding procedures on land rental reduction shall be amended towards simplicity (amendments shall also be applied to cases that satisfy conditions for land rental reduction in 2012 but their files remain unprocessed).

e) Project developers, which are yet to pay land use fees for their allocated land due to financial difficulties, are allowed to pay land use fees upon collecting their sales revenue within 24 months since the day they receive a notification on land use fee payment issued by tax authorities.

Upon balancing their local budget, the provincial People’s Committees shall consider and decide the deadline of land use fee payment for each project after reporting to the same level Standing Committee of the People’s Councils.

g) To shorten customs clearance duration, step up e-tax declaration, speed up the payment of tax through the banking system and automatized reception and processing of tax and customs procedures. To strive to reduce tax and customs procedure fees by 10-15% for individuals, organizations and enterprises.

h) To speed up supervision, inspection and control of tax payment declaration and tax refund; to enhance inspection and review of business registration to timely detect enterprises which avoid tax registry and put them to the blacklist. To fully and timely collect taxes and money for the State budget scheduled for 2012, which were rescheduled for 2013.

i) The Minister o Finance, who is authorized by the Prime Minister, shall report to the National Assembly for considering and deciding the following issues:

- To impose a corporate income tax rate of 20% since July 1, 2013 (six months before the proposed enactment time of the Law on amending and supplementing some articles of the Law on Corporate Income Tax) on small and medium-size enterprises (which employ less than 200 full-time laborers  and generate an annual income of below VND 20 billion).

- To impose a corporate income tax rate of 10% since July 1, 2013 (six months before the proposed effect time of the Law on amending and supplementing some articles of the Law on Corporate Income Tax) on incomes sourced from investing and trading social housing. Social housing shall be identified in accordance with legal stipulations on residential housing.

- To offer a 50% reduction in output value-added tax for investments and trading in social housing that are conducted between July 1, 2013 and June 30, 2014.

- To offer a 30% reduction in output value-added tax for investment and business activities (selling, leasing, and involving in lease and sales services) conducted on apartments with floor space of less than 70 square meters and selling price of under VND 15 million per square meter, from July 1, 2013 to June 30, 2014.

- To supplement tax incentives for extended investments in the preferential fields and regions in accordance with provisions of the Law on Corporate Income Tax so as they can be applied as from July 1, 2013 (six months ahead of the proposed enactment of the Law on amending and supplementing some articles of the Law on Corporate Income Tax). The duration of tax reduction or exemption applicable to investors who expand investment is equal to the time of tax reduction or exemption applicable to newly-established enterprises in the same fields and regions where preferential corporate income tax is offered.

3. Credit Capital

a) The State Bank of Viet Nam assumes the prime responsibility and coordinates with Ministries, agencies and localities:

- To continue to implement a tight, prudent monetary policy; to proactively and flexibly use the tools of monetary policy to ensure a reasonable growth rate of credit and total means of payment so as to control inflation towards the set goal.

-To continue to lower the capped interest rate level to suit the declining inflation; to provide supportive measures, to simplify lending procedures and increase credits for the agricultural sector and rural areas, small and medium-size enterprises producing goods for export and enterprises in the supporting industries. To extend the duration for short-term loans in foreign currencies that credit institutions and branches of foreign banks offer to exporters to December 31, 2013.

-To accelerate the restructuring of commercial banks and ensure its efficiency, resolutely handle poorly performing banks by appropriate measures in line with law, while stabilizing the whole system and ensuring legitimate rights and interests of organizations and individuals that deposit their money and use banking services.

- To request State-owned commercial banks to reserve a reasonable amount of capital (a minimum 3% of their total outstanding loans) to lend to low-income earners, officials and public employees, and servicemen to rent, or buy, or rent then purchase houses in social housing projects, or commercial houses with floor space of less than 70 m2, which cost under VND15 million per m2. The loans should have a low interest rate and a repayment period afforded by the customers; and to lend to businesses involved in social housing construction projects, and enterprises that converted their investment projects to social housing projects, with reasonable interest rates and repayment periods appropriate to the terms of the capital and repayment capacity of the customers. In the first quarter of 2013, to collaborate with the Ministry of Construction in issuing guidance for the implementation of the Regulation on loans for the aforementioned borrowers, to ensure the credits are used effectively and purposefully.

To spend VND20-40 trillion through refinancing with reasonable interest rates and a maximum term of 10 years, depending on the borrowers, to support state-owned commercial banks in providing loans for the aforementioned borrowers.

- To direct credit institutions to review and accelerate the approval of credits for efficient business and production projects with high capital recovery capacity, at the same time, to proactively process and submit to competent authorities to decide the grant of credits in excess of the permitted limit for key national projects and socio-economic development projects.

b) The Ministry of Finance takes the prime responsibility and coordinates with other ministries, agencies and localities:

- To increase the management efficiency of the Government’s guarantee undertakings in order to minimize risks, ensure solvency and maintain the safety limits of national debts. The Ministry of Finance shall perfect the credit guarantee mechanism for small and medium enterprises through the system of the Viet Nam Development Bank and local Credit guarantee funds, focusing on the following measures:

Using VND250 billion from the Support Fund for Enterprise Arrangement and Development to supplement the Guarantee Reserve Fund at the Viet Nam Development Bank. To evaluate the ability and scale for credit guarantee of the Viet Nam Development Bank to determine the appropriate capital needs; at the same time, the Ministry of Planning and Investment shall balance the spending for investment and development in the next few years in order to allocate capital for the Credit Guarantee Fund at the Viet Nam Development Bank.

Increasing the financial resources for local Credit Guarantee Funds with the following sources: Proceeds from equitization that localities have not transferred to the central authority, and local budgets to provide additional capital for local Credit Guarantee Funds.

The People's Committees of centrally-run provinces and cities improve the update of credit guarantee activities in their areas and timely set out solutions to solve difficulties for agencies to implement in accordance with law.

- To consider and adjust down the interest rates for investment credits and export credits to keep up with that in the market.

- The Viet Nam Development Bank:

To provide loans to enterprises in need to buy feeds for farming fish for export under the State’s export credit lending mechanism.

To consider extending the lending period of the State’s investment credit from 12 years to a maximum of 15 years (maximum total lending period is 15 years) for a number of large-scale economic infrastructure projects in the fields of electricity production, water supply, cement, steel and environment, which face problems.

To consider the extension of the maximum lending period of credit loans of the State from 12 months to 36 months (maximum total lending period is 36 months) for for-export aquatic products, fruits and vegetables.

To add up to VND10,000 billion (including VND5,000 billion taken out from the capital mobilization limit of the Viet Nam Development Bank in 2013 that was assigned by the Prime Minister in Decision No. 1788/QD-TTg dated November 29, 2012 and additional issuance of VND5,000 billion worth of bonds guaranteed by the Government out of  its guarantee limit granted to the Viet Nam Development Bank in 2013) for the credit program to concretize canals, and build rural roads, villages, and infrastructure for fish farming and rural handicraft villages, in addition to the annual capital of VND5,000 billion approved by the Prime Minister in Document No. 1589/TTg-KTTH dated October 3, 2012. To expand loans to projects to develop concrete bridges, and rural roads (including inter-communal and inter-district roads).

c) The Ministry of Transport assumes the prime responsibility and coordinates with the Ministry of Finance and the Ministry of Planning and Investment in constructing plans to issue bonds guaranteed by the Government to invest in the expansion of National Highway 1A and Highway 14 in accordance with the National Assembly’s resolution and the Law on public debt management.

4. Removing difficulties for the real estate market

a) The Ministry of Construction assumes the prime responsibility and coordinates with other ministries, agencies and localities:

- To continue to improve the system of legal documents on urban management, housing development, and real estate business by increasing State management, effective controlling the planning and plans of land use,  construction, housing development, and real estate prices to ensure supply and demand balance, in accordance with the socio-economic development plan of each locality and market needs. To build mechanisms to encourage enterprises and individuals to get involved in social housing development and research and issue preferential credit policies to enable low-income earners, officials and public employees, servicemen, workers, and laborers to afford or rent houses with their legitimate incomes.

- To review all housing development projects to classify the projects that continue to be implemented, the projects that need to be suspended, and the projects to be adjusted in terms of structure, type of housing, or in service of being converted to social housing development to meet the needs of the market and fit with social resources. To implement the National housing development strategy to 2020 with a vision to 2030, approved by the Prime Minister.

- To guide and support real estate businesses in proactively adjusting their business operations and corporate restructuring to be appropriate with the situation, such as: reducing prices and restructuring commodity structure in accordance with the purchasing power of the market; applying flexible sales methods by encouraging switching to lease or lease-purchase services and converting into social housing; properly using loans for the right purpose and capital mobilized from customers by being open and transparent in fulfilling the committed progress to gain customers’ trust.

- To shorten the evaluation and approval period of planning schemes, especially promptly process the procedures that allow adjustments in structure of stagnant projects and projects with construction in progress, in accordance with the market demand, procedures to convert from commercial housing projects to social housing projects.

-To permit the conversion of commercial housing projects into social housing projects for policy beneficiaries, including low income earners, civil servants and officials, the armed forces’ staff, workers, and students to lease or lease-purchase; the building of public facilities, such as hospitals, schools, hotels and commercial service centres in need, in accordance with the approved planning and infrastructure conditions. If these beneficiaries are eligible for land use fee exemption or reduction as regulated by law, they will enjoy deduction in the amounts they have to pay to the budget or get refunded for the paid land use fee.

- To review Resolution No. 19/2008/NQ-QH dated June 03, 2008 of the National Assembly on piloting residential house purchase and ownership by foreign organizations and individuals in Viet Nam. The Minister of Construction, who is authorized by the Prime Minister, reports to the National Assembly for consideration and deciding the expansion of eligible buyers and conditions of purchase and ownership of residential houses of foreign organizations and individuals in Viet Nam, which was specified in Decree No. 19/2008/NQ-QH12 dated June 03, 2008.

b) The Ministry of Natural Resources and Environment assumes the prime responsibility and coordinates with the Ministry of Construction and other relevant agencies to guide in writing the overall process and practice to reclaim land and hold back projects that are not eligible for continued investment, in order to lay out a legal basis for consistent nationwide implementation; to continue to improve legal documents on land.

c) The Ministries and agencies, based on the functions and tasks assigned, research to promptly form new financial institutions such as: House savings fund, Real estate investment fund, Remortgage agency, in order to create medium and long-term capital mobilization channels for the real estate market.

II. BAD DEBT SETTLEMENT

1. The State Bank of Viet Nam assumes the prime responsibility and coordinates with Ministries, agencies and localities:

- To review and re-evaluate bad debts; classify bad debts by types of enterprises, credit institutions, borrowers and collateral assets, bad debts in the real estate and construction sectors, etc., and assess the status of collateral assets, legal origin, market value and liquidity of these assets to find appropriate solutions to each type of bad debt.

- To amend, supplement and improve the regulations on credit operational safety to control and limit credit risks to credit organizations; strengthen inspection and supervision of credit institutions in the implementation of current regulations on credit, operational safety and loan classification, and risk provisions.

- To direct credit organizations to proactively deploy their own solutions to bad debts, such as evaluating the quality and the recoverability of loans to take measures to handle and collect debts; continue the restructuring of debts to support enterprises’ access to loans for production and business, sell bad debts to asset management companies and debt trading companies; strictly control and reduce operation costs to actively set up and use risk provisions to deal with bad debts; at the same time, implement measures to restrict bad debts arising in the future.

- To take into account the opinions of the Cabinet members to complete the Plan on handling non-performing loans (NPLs) of the system of credit institutions and the Plan on the establishment of Viet Nam asset management company and to report to the Political Bureau for comments. On the basis of the comments by the Political Bureau, the State Bank shall complete and submit the plans to the Prime Minister for approval.

- To promptly build, complete and submit to the Government for consideration and issuance the Decree on the organization and operation of the Viet Nam asset management company within January 2013.

2. The Ministry of Finance assumes the prime responsibility and coordinates with other ministries, agencies and localities:

- To assume the prime responsibility and coordinate with the State Bank of Viet Nam and relevant ministries and agencies to build and submit to the Prime Minister for approval the mechanisms and plans for handling bad debts of the Viet Nam Bank for Social Policies and Viet Nam Development Bank, as well as bad debts formed from loans to policy beneficiaries, and bad debts of state-owned enterprises.

- To develop and implement plans for handling bad debts of state-owned enterprises during the process of restructuring state-owned enterprises under the Project “Restructure State-owned Enterprises with focus on Economic Groups and State Corporations during 2011-2015”, approved by the Prime Minister in Decision No. 929/QD-TTg July 17, 2012.

- To study and submit to competent agencies for promulgation of policies and regulations on exemption or reduction of tax and fees related to the purchase and sales of bad debts and collateral assets of credit institutions.

- To promptly research and submit to the Government in the second quarter of 2013 to issue the Decree on the management of corporate debts, to replace its Decree No. 69/2002/ND-CP dated July 12, 2002 on the settlement of outstanding debts for state owned enterprises, in the direction of increasing the responsibilities of enterprises’ boards of management in debt management, timely handling of arising bad debts and prevent new bad debts; improve the efficient use of state fund, and tightly control the investment management of enterprises.

- To coordinate with concerned ministries and agencies to urgently complete the operating model of the State Capital Investment Corporation (SCIC) and Debt and assets trading corporation (DATC) to strengthen the capacity and effectiveness of State capital investment in enterprises as well as support for the processing of handling outstanding debts and equitization of State-owned enterprises. Use the proceeds from equitization to supplement the capacity of DATC to proactively participate in the process of financial restructuring of state-owned groups and corporations, and handling of commercial bank debts.

- To issue and amend regulations to create a legal framework for the forming and development of a debt trading market. To improve the financial regulations on mergers, privatization, debt write-off, debt restructuring, and debt-to-equity swap. To issue a list of price valuation, accounting and auditing companies that are eligible to participate in the process of handling NPLs to determine the market value of the enterprises, assets and bad debts.

- To develop the capital market, unleash investment flows into the capital market, encourage the development of the bond market, especially corporate bonds, reduce the enterprise's dependence on bank credit funds.

3. The ministries, agencies, local, State-owned groups, corporations and enterprises, based on their functions and tasks assigned:

- To support credit institutions in the completion of legal documents related to collateral assets to promptly handle NPLs of credit institutions.

- In the first quarter of 2013, the Ministry of Justice shall urgently coordinate with other ministries and agencies to issue a joint Circular on handling of collateral assets; to amend, supplement and improve the regulations on sale or disposal of collateral assets to help banks handle collateral assets, promptly and conveniently collect debts; to innovate, improve the efficiency of civil judgment execution to protect the rights of creditors of credit institutions and help credit institutions recover assets at the earliest convenience.

- To aggressively deploy the Project “Restructure State-owned Enterprises with focus on Economic Groups and Corporations during 2011-2015” and the project “Restructuring the stock market and insurance enterprises”, as well as continue to improve the legal framework, capacity management and supervision in the field of securities and insurance and the operations of state-owned enterprises.

- The police, judiciary and court agencies coordinate and accelerate the complete handling of cases related to banking activities and execute civil cases in order to facilitate credit organizations’debt recovery, bad debt reduction and credit expansion in service of the economy. To restrain the criminalization of economic activities in the banking sector; preferredly take economic and civil measures in handling the consequences and maximize the recovery of money and assets for the banks. Strictly handle legal cases that delay bank debt repayment, deliberately break the rules and cause serious consequences to the banks.

- To build plans for handling bad debts of sectors and localities within the scope of state management of the Ministries, sectors and localities assigned.

 III. IMPLEMENTATION

1. The Ministries of Finance, Planning and Investment, Industry and Trade, Agriculture and Rural Development, Construction, Natural Resources and Environment, the State Bank of Viet Nam and relevant Ministries and agencies, in accordance with their assigned tasks in January 2013, to issue specific guidelines related to the implementation of the Resolution; promptly  submit to competent authorities for promulgating or amending and supplementing related legal documents to implement the Resolution as prescribed.

2. Pursuant to this Resolution, the Ministers, Heads of ministerial-level agencies, Heads of the agencies under the Government, and the President of People's Committees of provinces and cities directly under the Central Government, in accordance with their assigned functions and tasks, focus on directing, guiding, implementing, organizing, and coordinating to implement the solutions aforementioned in the Resolution, in order to timely solve difficulties for enterprises and support the market.

Coordinate closely with agencies under the Party, the State, the Vietnamese Fatherland Front and mass organizations to implement the Resolution. Strengthen the inspection and supervision of the implementation of tasks assigned to each agency, organization and individual; apply reward mechanism and exercise strict and timely discipline in the implementation of the assigned tasks.

Stick to the actual situation, proactively monitor and evaluate in order to take flexible and timely measures, or submit recommendations, proposals to competent authorities to ensure timely, effective and direct operating solutions.

3. The Ministry of Planning and Investment assumes the prime responsibility and coordinates with relevant Ministries and agencies to inspect and supervise the implementation of the Resolution; synthetize and report to the Government about the situation and implementation results in the Government's regular monthly meeting.

4. The Ministry of Construction assumes the prime responsibility and coordinates with relevant Ministries and agencies to inspect and supervise the implementation of the relevant content of the Resolution relating to solving difficulties for the real estate market, synthetize and report to the Government about the situation and implementation results in the Government's regular monthly meeting.

5.The Ministries, ministerial-level agencies, agencies under the Government and People's Committees of provinces and cities directly under the Central Government sum up, review and evaluate the implementation of the Resolution in the first half of 2013 in the range of their assigned functions and tasks, and propose regulatory and administrative solutions of the Government in the second half of 2013, report to the Prime Minister and to the Ministry of Planning and Investment by June 10, 2013. The Ministry of Planning and Investment synthetize and evaluate the implementation results of the Resolution of each ministry, agency, locality, and report to the Government in the regular meetings in June and December 2013./