Gov’t convenes regular meeting

Photo: VGP

Report prepared by the Ministry of Planning and Investment shows that the economy was on the right track.

The consumer price index increased by 0.27% in July against the previous month, according to the General Statistics Office (GSO).  In the first seven months, the index surged 6.81% against the same period last year, the record low over the last ten years. 

In the first half of July, total export revenue reached US$5.16 billion and import turnover stood at US$5.07 billion, resulting in a surplus of US$85 million, the Viet Nam Customs reported.

In terms of investment, both attracted and disbursed capital rose against the same period last year, standing at US$11.9 and US$6.7 billion, respectively, in the first seven months.

The Foreign Investment Agency under the Ministry of Planning and Investment said the country granted licenses to 677 new projects with registered capital of US$6.9 billion in the reviewed period.

Other positive signs include recovery of machinery imports, stable agricultural production, falling interest rates, and restored credit growth.

The economy, however, still faces challenges, especially the recurrence of high inflation, businesses' limited capacity to absorb credits, slow credit growth among others, according to the Cabinet members.

PM Nguyen Tan Dung, who chaired the meeting, also pointed out that economic restructuring was slowly carried out.

To fulfill the preset targets, PM Dung urged inferior levels to make greater efforts in drafting specific mechanisms and measures and intensifying coordination among them.

The Government chief asked for consistent pursuance of curbing inflation, stabilizing macro-economy, implementing the roadmap for regulating prices of electricity and petrol under market rules, and ensuring goods supply and demand.

He reiterated the Government’s goal to keep the inflation rate under 6.8 percent this year.

PM Dung also called for stronger efforts in restructuring the economy, particularly the State-owned enterprises, banking system, and agriculture sector.

The Government encourages and creates favorable conditions for private sector to pour capital in infrastructure development under the model of public-private partnership, he said./.

By Huong Giang