Gov’t continues prioritizing inflation control and production expansion
VGP – During the Government’s regular meeting for May on Tuesday, all Cabinet members agreed that socio-economic performance over the past five months was sustainable and positive.
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Cabinet members discuss socio-economic performance in the first five months of 2010, Hà Nội, June 1, 2010 – Photo: VGP/Nhật Bắc |
Macro economy was sustained, inflation downsized, and industrial value increased by three times against the same period last year, the Government highlighted as significant achievements in the reviewed period.
The Government, however, noted that challenges, such as high trade deficit, abnormal changes in real estate market, sudden housing price hike, electricity shortage, high mobilization and lending rates, and low credit growth pace, still lie ahead.
PM Nguyễn Tấn Dũng urged ministries, sectors and localities to further effectively deploy measures enshrined in the Government’s Resolutions 18/NQ-CP and 03/NQ-CP on sustaining macro economy, curbing inflation and securing growth rate of 6.5% this year.
The State Bank of Việt Nam was asked to take urgent actions to lower interest rates, tighten bad debts, and maintain a sustainable exchange rate.
No signs of speculation against most essential goods are allowed, more campaigns should be designed to counter cross-border smugglings and counterfeit commodities, the Government chief requested.
The Government planned to reduce trade deficit down to less than 20% of the country’s total export turnover.
In an effort to pull down the skyrocketing housing prices, the Government chief ordered relevant ministries and big cities, particularly Hà Nội, to impose serious punishments to those who corner the market or speculate to push the prices higher.
He also asked ministries and localities to contunue cutting down on unnecessary administrative procedures to create a more transparent business environment.
Some key indicators of the national economy in the first five months 2010
| No. | Item | Figures up against the same period of 2009 | Remark |
| 1 | Industrial production value | 13.6%, or three times higher | Preset target is 12.4% |
| 2 | Import value | US $31.2 billion, an increase of 29.8% | Foreign-funded sector accounted for 50% |
| 3 | FDI disbursement | US $4.5 billion, or 7.1% higher | Ever highest disbursement rate |
| 4 | FDI inflow | 360 new projects worth of US $7.1 billion (up 40%) | |
| 5 | Job creation | 15,000 new jobs and 30,000 outbound workers |
By Hải Minh
