The Hanoitmes - The effective implementation of the Government’s Resolution No. 11 has resulted in some initial achievements, said Minister, Head of the Government Office Nguyen Xuan Phuc.
Mr. Phuc, who is also a Party Politburo member, said this at a press conference in Hanoi on June 3 to announce the results of the Government’s regular May meeting.
Minister Phuc emphasized that Vietnam has succeeded in managing monetary and credit growth, maintaining and developing production and business, promoting exports, and ensuring social welfare. He said political security and social order have also been ensured.
The Government urged ministries, agencies, and localities to strictly implement the Government’s directions for curbing inflation, stabilizing the macroeconomy, and ensuring social welfare in the coming months.
Deputy Minister of Industry and Trade Nguyen Thanh Bien provided information related to the ministry’s circular 20/2011/TT-BCT which imposes measures for tightening import of automobile, mobile phones, and cosmetics, as well as the ministry’s flexible management of monetary and credit policies and other issues related to exchange rates, attracting investment and controlling inflation.
Imports of under-nine-seat cars have significantly increased by 46 percent in quantity and 75 percent in value, he said.
Regarding the future management of monetary policies, Governor of the State Bank of Vietnam, Nguyen Van Giau, said credit growth had reached 6.92 percent by the end of May.
Deputy Minister of Planning and Investment Cao Viet Sinh said, although the number of new FDI projects licensed in the first five months decreased, the total registered capital saw a sharp increase.
In order to attract more foreign investment, Vietnam intends hold investment promotion campaigns in other countries.