Market management, ODA disbursement top cabinet meeting

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VOV News English - 32 month(s) ago 4 readings

Market management, ODA disbursement top cabinet meeting

(VOV) - More efforts needed to reduce bank interest rates, manage market-driven petrol prices, and accelerate the disbursement of foreign invested and ODA capital.

PM Nguyen Tan Dung made the request while chairing the Government’s February meeting on March 5 and 6.

According to cabinet members, Vietnam gained certain achievements in the first two months of this year with inflation being maintained at 2.38 percent, much lower than last year’s corresponding figure of 3.87 percent. Some major commercial banks have reduced their interest rates , helping businesses iron out snags in their operations

Export turnover reached US$15 billion, up 25 percent over the same period last year, while the number of foreign tourists visiting the country increased by 30 percent. The retail value of consumer goods and services totaled US$380 billion.

However, they said, difficulties remain as industrial production saw a record low year-on-year growth of only 3.9 percent. The agricultural sector was also negatively affected by the cold spell in the northern region and the spread of epidemics.

Mr Dung underlined the strict implementation of Party, National Assembly and Government resolutions as well as the PM’s decrees by ministries and agencies, which has helped create positive changes, despite the domestic and global economic difficulties.

He asked ministries and agencies to keep track of the socio-economic situation so they can respond quickly to any changes, continue curbing inflation, and stabilizing the macroeconomy.

The Government leader urged the State Bank of Vietnam to maintain stable exchange rates, improve the liquidity of the entire banking system,promote bank restructuring and control banks that are facing difficulties in order to keep the monetary market stable.

He also asked relevant ministries, agencies, and localities to shore up the stock market , boost the equitisation of State-owned businesses, increase exports, decrease the trade deficit, and promote production and business by proposing suitable policies and mechanisms for each field and type of enterprises.

Mr Dung urged them to direct the stockpiling of rice to ensure a 30 percent profit for farmers; create favourable conditions for developing high value industrial crops such as rubber and coffee; promote the seafood sector; strengthen the control of diseases and epidemics, and develop tourism services.

The designated agencies should also encourage investment by introducing favourable policies, iron out snags in the real estate market, develop social houses, and allocate Government bond capital for infrastructure projects.

PM Dung requested that the Ministry of Health submit a project to resolve the overload at central hospitals. He also asked the Ministry of Public Security to take drastic measures to prevent crimes and social evils and reduce traffic accidents.

Authorities at all levels should pay due attention to improving people’s living conditions and protecting the rights of labourers, especially those working in industrial zones, he said.

Also at the meeting, cabinet members gave their ideas on implementing the Party Central Committee’s Resolution 3 on improving Party leadership in anti-corruption work.

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