PM: HCMC should focus on curbing inflation

PM Nguyễn Tấn Dũng (standing) at his working session with leaders of Hồ Chí Minh City, May 30, 2011 – Photo: VGP

The Government chief made the request at his working session with the municipal leaders to review the city’s five-month socio-economic performance and implementation of the Government Resolution No. 11/NQ-CP.

PM Dũng asked the city to drastically control prices of essential commodities so as to prevent speculation and price hikes.

“HCMC also needs to effectively manage credit growth and foreign currency and gold markets,” he added.

The economic hub should promptly flatten barriers against corporate production and facilitate credit access for businesses and design effective measures to mobilize capital for the construction of its public works and infrastructural facilities, PM Dũng said.

At the working session, the Government chief answered the city’s proposals regarding capital resources for infrastructure development, mechanisms on investment, financial management, and budget allocation.

Stable growth, CPI down

Chairman of the Municipal People’s Committee Lê Hoàng Quân reported that HCMC maintained a stable economic growth rate in the past five months.

Export turnover increased by 18.4%, total retail sales of commodities and services rose by 22.2%, industrial production up 12.4%, agriculture-forestry-aquaculture up 6.1%. The city’s consumer price index dipped to 2.38% in May from 3.16% in April, he said.

The local authorities have cut over VND 200 billion in regular expenses and temporarily postponed the purchase of new cars and property at the value of over VND 212 billion.

Regarding the city’s key missions for the remaining months of the year, Chairman Quân said HCMC will focus on trade promotion and export acceleration.

By Hải Minh