The government's tasks during the last months of 2012 were to continue
curbing inflation and stabilising the macro economy, with a target of GDP
growth of 5.2 per cent and an inflation rate of about 7 per cent for the whole
year.
Prime Minister Nguyen Tan Dung
made the statement at the government's monthly meeting in Hanoi yesterday,
which reviewed its work in August and discussed the country's socio-economic
situation in 2012 as well as development plans for 2013.
At the meeting, cabinet members
agreed that the socio-economic situation in August and the first eight months
of this year had continued to see positive changes.
Monetary policy had been managed
more flexibly, resulting in annual interest rates falling by 4-5 per cent which
had helped with inflation, the macro economy and the monetary market, they
said, adding that efforts to remove difficulties for production and business
activities had gradually proven effective.
However, they also said that the
country's socio-economic development still faced many difficulties and
challenges in the remaining months of the year, with low export growth and bad
debt in the banking system yet to be settled, and the financial and monetary
markets suffering from complicated developments.
According to a draft 2013 socio-economic
development plan presented by Minister of Planning and Investment Bui Quang
Vinh, despite numerous difficulties and challenges, development prospects for
next year were better than that in 2012.
This was an important foundation
for the country to build and manage the development plan for 2013, an important
year for the fulfilment of targets set for the 2011-2015 period, he said.
The overall objective for 2013
was to maintain reasonable growth and continue to stabilise the macro economy,
restoring the business community and people's trust in the investment and
business environment and the stability of the economy, while ensuring social
security and welfare, and improving people's living standards.
The country would expand foreign
relations and boost integration to raise its position in the international
arena; safeguard independence, sovereignty, unity and territorial integrity;
and ensure political security, social order and safety.
The minister put forth two
options for 2013 which projected that GDP growth would be between 5.5-6 and
6-6.5 per cent, and consumer price index (CPI) growth would be about 7-8 per
cent, lower than or equal to that in 2012.
Concluding the meeting, Dung said
that with efforts made by the whole political system and the business
community, Vietnam had controlled inflation, stabilised the macro economy and
foreign exchange, increased exports and social investment, balanced the budget,
and maintained constant growth.
However, the PM also pointed out
the economy's shortcomings and limitations such as the unsound macro economy,
low credit growth, difficulties for businesses in accessing capital, and large
inventories.
Regarding the 2013 plan, the
government leader asked relevant ministries and agencies to focus on
stabilising the macro economy, preventing the recurrence of high inflation and
keeping growth at a reasonable rate of around 6 per cent.
Ministries and agencies should
continue to speed up economic restructuring with a focus on public investment,
state-owned enterprises and the finance-banking sector, while ensuring social
security and welfare and maintaining security and defence, Dung said.
He also stressed the need to
continue thrift practices, especially in regular spending, while paying
attention to measures to mobilise development investment, and placing petrol
and coal prices under a market mechanism.
At a press meeting after the
cabinet meeting, Minister and Director of the Government Office Vu Duc Dam said
the government would strictly pursue those who conducted illegal activities
that damaged the nation's financial and banking systems.
Dam said the PM had given
instructions to purify the country's banking systems as it was the
"backbone" of the economy.
VNS
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