Mar 31, 2013

Vietnam - Gov’t to prioritize supporting production and business

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The Government will prioritize supporting production and business, settling bad debts, and reducing inventories to spur growth recovery, PM Nguyen Tan Dung emphasized at the Government regular meeting on Friday.

The priority was identified as the economy still witnessed slow industrial production though a number of positive signals were recorded in the first quarter with a lower inflation rate and higher growth compared to the same period last year.

Accordingly, the Government will introduce effective tax solutions to back restoration of production and business while speeding up trade and investment promotion activities and encouraging export of key commodities.

It will continue to pursue a flexible and effective monetary policy, push credits into production, and follow the roadmap to lower lending rates, particularly for fields like agriculture, rural development, labor-intensive enterprises.

More mechanisms and policies will be designed to further attract foreign investment, especially into high-tech projects and supporting industries.

The Government chief also stressed the need to step up restructuring of public investment, State-owned enterprises and financial market.

Regarding measures to address the frozen real estate market, PM Dung called for developing proper mechanisms and policies to support low-income groups to buy houses.

He also agreed with some Cabinet members’ proposal to allow foreigners to buy houses in Viet Nam but strict regulations are needed.

Despite economic hardship, PM Dung tasked inferior levels to pay more attention to social welfare and social security.


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