VietNamNet Bridge – Prime Minister Nguyen Tan Dung called for
continual efforts to rein in inflation, maintain a stable macro-economy,
safeguard social welfare and accelerate production in the remaining months of
this year to create a momentum for development in the transitional year of
2013.
Managing prices, controlling
inflation and ensuring social welfare will continue to be the focus of plans
and tasks in 2013, Dung said when addressing the Cabinet’s November meeting in
Hanoi on November 29.
He was optimistic that all 2012
goals, targets and tasks presented by the Government to the Party Central
Committee and the National Assembly will be fulfilled as the socio-economic
performance in November and the last 11 months demonstrated that it is moving
in the right direction.
However, the Government leader
pointed out that grave difficulties and challenges still remain ahead.
He gave specific instructions to
ministries, sectors and localities, asking them to watch over outlined
requirements to contain inflation, stabilise the macro-economy, and keep a
close eye on the prices of essential goods like medicines, milk, petroleum and
food.
A roadmap to reduce interest
rates will continue, Dung said, adding that it is a practical move to manage
inflation while stimulating economic growth.
He continued to ask the
ministries, sectors and localities to screen their revenues in parallel with
managing spending to ensure state budget collection and spending are balanced,
while keeping the state budget overspending rate at the level approved by the
National Assembly.
PM Dung requested drastic
measures to be taken to handle bad debts and inventories, especially in real
estate, and accelerate the disbursement of investment capital, particularly
government bonds, FDI, and ODA.
He noted that public investment
will be safeguarded with increasing surveillance, supervision and inspection.
The Government leader required
ministries, sectors and localities to press ahead with measures to remove
existing difficulties facing business and production activities, prioritise
agricultural development and expand export markets for the country’s
advantageous products.
Close coordination between
relevant agencies to manage the domestic market, prices and sufficient goods
stocks for the upcoming traditional New Year festival must exist. The import of
goods and foodstuff must be tightened for the occasion, Dung emphasised.
He demanded relevant agencies to
devise plans for the traditional New Year festival, which will fall in February,
2013. He reminded them to implement social welfare policies and programmes for
the poor, ensure traffic safety and food hygiene, and end cross-border
smuggling of poultry.
Dung underlined the need to
promote the dissemination of information, especially the supply of information
to the press, to create agreement among people and fulfilment of all set
targets.
At the meeting, the cabinet
members, however, noted that the macro economy is unstable, with the rate of
inflation threatening to rise again.
At the same time, bad debts have
been settled slowly and may rise while some weak banks are being restructured
unhurriedly.
The cabinet members shared the
view that Consumer Price Index is likely to grow at a high rate due to
increasing foodstuff demands for the traditional New Year (Tet) festival.
They agreed that the year’s CPI
must be kept at 8 percent, as set in the beginning of the year, to create a
firm foundation for the country in 2013 and following years.
It was reported that the CPI fell
dramatically from 2.2 percent in September (the highest level since the
beginning of 2012) to 0.85 percent in October and 0.47 percent in November.
This was the result of measures
implemented to stabilise prices in the market, especially the Prime Minister’s
instruction on enhanced price management, regulation and stabilisation in the
year-end period.
Exports continued to see high
growth, improving trade and overall balance as well as increasing the State’s
foreign currency reserves.
In the first 11 months of the
year, total export value is estimated to exceed 104 billion USD, a year-on-year
increase of 18.4 percent, while import value, 103.98 billion USD, a rise of 6.8
percent over the same period last year, bringing in balanced trade.
The industrial production index
increased by 4.8 percent over the previous month and 6.7 percent compared to
the same period last year.
Despite impacts from natural
disasters, there was stable development in agricultural production.
In the 11-month period, Vietnam
welcomed over 6 million international tourists, a year-on-year rise of 11.4
percent.
The country generated additional
jobs for 1.39 million people, fulfilling 86.9 percent of set targets. 72,500 of
these workers went abroad, meeting 85 percent of the target.
At the meeting, the cabinet
members discussed a project to renovate the collaboration mechanism in macro
economy management and steering in the 2012-2020 period, and a master plan on
economic restructuring in combination with a shifting growth model to improve
competitiveness in quality and effectiveness.
The revised Law on Thrift
Practice and Wastefulness Prevention, the Law on the Amendment and Supplement
of a Number of Articles of the Residence Law were also tabled for discussion.
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