PM urges fulfillment of preset goals
18:25 | 28/10/2012
VGP – In the Government’s October 2012 regular meeting, PM Nguyen Tan Dung asked ministries and local authorities to try best in fulfilling socio-economic goals set for 2012 and laying the foundation for the development in the coming years.

The Government convenes its October 2012 regular meeting in Ha Noi on October 28, 2012 - Photo: VGP/Nhat Bac
Many positive economic signs

Evaluating socio-economic situations in October and the first ten months, the Government agreed that there have appeared a number of positive signs.

Solutions to rein in inflation and stabilize macro-economy continued to be effective; export turnover grew higher than the preset target and import turnover, considerably narrowing the trade gap; industrial production recovered; the inventory was slashed down; a number of obstacles were lifted to facilitate production and business activities; and social security and welfare were guaranteed (see Table below).

CPI increase in October

Export turnover in October

Import turnover

Ten-month trade gap

Index of industrial production in October


Rice productivity in 2012

Total volume of retails and service revenues in October

International arrivals

Job generation in ten months

Guest laborers sent abroad

up 0.85% against September

US$9.9 billion, up 4.4% against September

US$10.4 billion, up 11.7%

US$357 million, 0.4% of export turnover

up 5.8% against September and 5.7% against last October

up 0.7 million tons against 2011

up about 17.1% against last October

up 11.2%

about 1,195,000 new jobs, over 78.7% of the year plan

about 64,800, 72% of the year plan

More “knots” to be untied…

Members of the Cabinet agreed that the central task in the remaining months of 2012 is to control inflation and stabilize macro-economy.

According to Minister of Industry and Trade Vu Huy Hoang, ministries and local authorities should further closely work together in managing the demand-supply of goods, guaranteeing sufficiency of food and primary commodities in the last months of the year.

Meanwhile, Deputy PMs Nguyen Xuan Phuc and Vu Van Ninh emphasized the necessity to clear bad debts and inventory; push up administrative reforms to minimize costs for people and enterprises; and popularize one-stop-shops.

Deputy PM Hoang Trung Hai suggested that due attention should be paid to facilitating production and business activities; enhancing enterprises’ access to capital sources; boosting up the equitization of SOEs; and attracting more foreign investors.

Especially, Deputy PM Nguyen Thien Nhan asked the Ministry of Health not to announce the adjustments of medical service prices at the moment. He also urged local authorities to tighten the management of food safety.

… to fulfill preset goals

Concluding the meeting, PM Nguyen Tan Dung asked ministries and local authorities to try best in fulfilling socio-economic goals set for 2012 and laying the foundation for the development in the coming years.

Inflation rate must be kept at around 8% in 2012, he stressed, adding that prices of food and foodstuff cannot rocket in any case at the year-end.

He ordered the State Bank to speed up the rearrangement of banks while closely monitoring the market of gold, combining fiscal year and monetary policies, and securing the budget balance at a proper level.

The Government chief also required his inferiors to support industries of comparative advantages, such as agriculture, tourism, and services.

By Nguyen Ho

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