Impetus needed for high and sustainable growth in 2010
VGP – The Government on Saturday issued the Resolution of its November regular meeting, assigning ministries, sectors and local authorities to enforce the adopted solutions and policies in order to fulfill the yearly socio-economic goals for 2009 and lay the foundation for a high and sustainable growth rate next year.
The Government entrusted
the State Bank and the Ministry of Industry and Trade to propose reasonable
interest rate incentives applied for long and medium-term loans in 2010. Loans
to serve the procurement of machines and input materials for agricultural
production and building houses in rural areas will receive interest rate
incentives. The proposals, if approved by the PM, will be applied from January 1,
2010 on.
The
Government decides to continue some economic stimulus policies to create
impetus for sustainable growth in 2010 – Illustration photo
Also in 2010, many new
important policies will come into force, including the Law on the Elderly, Law
on Medical Treatment and Examination, Law on Telecommunications, Law on Radio
Frequency and the Law on Civil Defence which were just ratified by the NA on
November 23.
Recent ups and downs seen
on gold, foreign exchange and stock markets were thoroughly discussed by the
Government during the November meeting.
In its resolution, the
Government assigned the State Bank and relevant agencies to strictly prevent
and punish any illegal gold and foreign exchange transactions which can trouble
and harm the national economy.
The Government also ordered
the Ministry of Finance and the State Securities Commission to tighten their
supervision and inspection, discovering and settling manipulatory transactions
on stock markets.
Ministries, sectors and
local authorities were urged to push up administrative reforms, so as to slash
down at least 30% of administrative procedures.