Prime Minister
Nguyen Tan Dung has urged relevant ministries and agencies to continue the
focus on stabilising the macro-economy and easing difficulties for business and
production.
At a regular Government session held in Hanoi on Mar. 5 and 6, PM Dung
issued this instruction after he and other cabinet members discussed the
socio-economic situation in February and the first two months of the year, and
the PM’s instructions on stabilising prices, boosting production and business
after the traditional New Year Festival.
In the first two months of the year, the country’s socio-economy showed
positive results.
The Index of Industrial Production (IIP) increased 3.9 percent over the
same period last year. February’s consumer price index was up 1.37 percent over
the previous month and much lower than the same period of 2011. The foreign
exchange market was stable and the country earned an estimated 8.2 billion USD
from exports, despite a downturn in some traditional markets, including the US
and the EU.
However, the economy still saw some disadvantages and weaknesses with
high interest rates, liquidity difficulties at some commercial banks and a
credit growth decrease affecting enterprises’ capacity to secure capital.
PM Dung concluded that it will be crucial to overcome difficulties and
weaknesses to reach targets and fulfil tasks set for the first quarter and the
whole year.
Issuing instructions, PM Dung urged relevant ministries and agencies to
ensure price stability, especially prices of essential products like
electricity and petroleum, to maintain the mechanism of market prices and meet
the goals of inflation control at the same time.
He asked the State Bank of Vietnam to continue implementing the roadmap
on reducing the banking interest rate to ensure suitable credit growth and
solve liquidity issues while restructuring banks.
As the securities market showed optimistic signals, it is necessary to
speed up the rearrangement of State-owned enterprises through equitisation. He
also stressed the need to keep a tight control of the budget balance,
maintaining a trade deficit at about 10 percent for the whole year (equal to
2011), reducing public investment, as well as practising thrift and fighting
wastefulness.
Together with inflation control, PM Dung also asked ministries,
agencies and localities to continue to ease difficulties for enterprises and to
develop production, especially industrial and agricultural production, helping
to find outlets for products and stockpiles.
At the session Deputy Prime Ministers Nguyen Xuan Phuc and Nguyen Thien
Nhan asked ministries, sectors and localities to continue taking urgent
measures to ease traffic jams and reduce traffic accidents and pay attention to
training human resources for labour export.
VNA
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
No comments:
Post a Comment