The Prime Minister has pledged to make the
inflation target and stabilise the foreign exchange rate, while at the same
time keeping the prices of goods and services at reasonable levels.
At the
regular Government meeting for the month of February the Prime Minister
commented that although inflation has seen a reduction, it is still too high.
In order to solve the problem he ordered the State Bank of Vietnam (SBV), the
Ministry of Finance and the Ministry of Planning and Investment to work
together in order to lower deposit interest rates in early March along with
maintaining healthy credit growth and bank liquidity.
Upon
receiving the order, the SBV decided to lower the annual ceiling deposit rate
to 13%.
The
inter-departmental group was also ordered to review the current financial
situation of a number of firms to identify and provide support for businesses
that are struggling. They have also been made responsible for mobilising and
disbursing domestic and FDI funds.
According
to Ministry of Planning and Investment, 8,700 new enterprises were established
in the period between the beginning of the year and February 23, with total
registered capital of over VND49 trillion (USD2,357 million). The figure is
down 1.6% in the number of companies and 14% in registered capital compared to
the same period last year.
Some of
the industries given investment priority include rural development and
agriculture, processing, exports and housing.
Concerning
recent price hikes, the Prime Minister requested that relevant agencies balance
the the market forces dictating the price of electricity and petrol with the
national targets for inflation.
Nguyen
Thanh Bien, the Vice Minister of Industry and Trade, said, “Our lack of natural
recourses in terms of oil reserves makes it necessary to import petroleum. For
this reason petrol prices are highly dependent on the international market. In
the future we will have to take strict measures if we are to maintain
reasonable fuel prices in Vietnam."
dtinews.vn
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