Gov’t reviews performance in first five months
14:50 | 26/05/2013

VGP – The Government convened its regular meeting on Sunday to review socio-economic situation in May and first five months of 2013 under the chairman of PM Nguyen Tan Dung.

Overview of the Government's regular meeting, Ha Noi, May 26, 2013 - Photo: VGP

According to Minister of Planning and Investment Bui Quang Vinh, the economy has been on the right track and inflation has been put under control.

Interest rates were lowered for the 2nd time in the year and 8th since the start of 2012 in order to facilitate business activities, Minister Vinh added.

Other positive signals included stable foreign currency market, improving liquidity among commercial banks, exports growing at a high pace, recovering import and industrial production.

Beside the aforesaid results, the Cabinet members also pointed out challenges which need to be addressed in the time to come. Prominently, all agriculture, forestry, aquaculture and industry-construction faced difficulties.

Specifically, industrial production, especially processing and manufacturing areas slowly recovered, the gap between deposit and lending interest rates was also slowly narrowed. Little process has been made in the restructuring process of commercial banks and settlement of non-performing loans.

Concluding the meeting, PM Dung stressed that socio-economic achievements in the reviewed period have not come up to expectations.

He went on to say that many of policies have not been enforced and many sectors have encountered numerous difficulties.

The Government chief highlighted the top priority task of curbing inflation, stabilizing macro-economy. Achieving the set growth target in a sustainable manner is also another must.

Regarding non-performing loans, PM Dung ordered the State Bank of Viet Nam to actively do its job as relevant legal framework is already available.

He urged inferior levels to speed up restructuring of public investment and attraction of foreign investment in high-tech, high value-added sectors.

PM Dung also asked Cabinet members to actively and closely coordinate in providing performance information at the on-going 5th session of the 13th National Assembly./.

                                                                                                                By Ngoc Van

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