Gov’t continues to focus on inflation curbing

PM Nguyễn Tấn Dũng asks his inferiors to center on macro-economic stability, inflation curbing, production expansion, and social welfare in the rest of 2010, Hà Nội, August 4, 2010 – Photo: VGP/Nhật Bắc

PM Nguyễn Tấn Dũng made the emphasis on August 4 in Hà Nội at the Government’s regular meeting of July.

The two-day regular meeting was wrapped up today after Cabinet members had discussed all-around situation of the country in the first seven months, administrative reforms, a plan for restructuring the Việt Nam Shipbuilding Industry Group (Vinashin) and four draft bills. 

Cabinet members held that the socio-economic performance picked up in the first seven months. Specifically, export surged by 17.5% against the same period last year and import was reduced. The total liquidity went up 13% in July against December 2009. VN-Index rose to 509 in mid-July. 

Thanks to adequate power supply, in July, industrial production hiked 13.5% year-on-year. The country witnessed the establishment of around 7,000 new enterprises and job generation for over 141,000 people. 

However, the domestic economy is facing with some challenges like high trade gap, price pressure, high interest rates, and epidemics.  

Cabinet members predicted that the economy would continue to rebound and meet the set targets of growth rate (6.5%), export turnover (up 17%), trade deficit (under 20%), and CPI (8%). 

A panorama of the Government’s regular meeting of July, Hà Nội, August 4, 2010 – Photo: VGP/Nhật Bắc

Striving to curb inflation

Addressing the meeting, PM Dũng instructed his inferiors to stabilize macro-economy, control prices, maintain proper exchange rates, and put CPI under 8%.

The Ministry of Finance was asked to work with relevant ministries, Hà Nội and Hồ Chí Minh City to prevent speculation and trade frauds. The Ministry of Industry and Trade and others were assigned to stabilize prices of primary commodities in line with Việt Nam’s commitments to the WTO.    

The Government chief also noted the necessity to speed up infrastructure construction projects, boost up export, accelerate the equitization of State-owned enterprises, and prevent natural disasters. 

The PM requested the Ministry of Labor, War Invalids and Social Affairs to early ratify new poverty standards, the Ministry of Information and Communications to tighten control over online games, the Ministry of Justice to review regulations on marriage between a foreigner and a Vietnamese citizen./.

By Hương Giang