Vietnam’s socio-economic development in July and over the past sevenmonths continues showing positive signs and has been on the right track,said Prime Minister Nguyen Tan Dung.
The trend will go on,particularly in curbing inflation, maintaining macro-economic stability,and promoting agricultural and industrial production, the PrimeMinister affirmed at the monthly Cabinet meeting in Hanoi on July30-31.
However, he said, economic growth during the past sevenmonths is lower when compared to previous years. Therefore, it will bedifficult to fulfill this year’s GDP growth target of 5.2 - 5.7 percent.
He urged all ministries, sectors and localauthorities to focus efforts assisting businesses to boost production,particularly those facing difficulty.
Priority inaccess to credit should be given to businesses operating in key sectorssuch as agriculture, manufacturing products for export and supportingindustries, the PM noted.
As an effort to maintain macro-economicstability and curb inflation, Dung asked the State Bank of Vietnamto restructure debts and reduce bad debts using synchronous measures,while restructuring weak commercial banks and maintaining a stableexchange rate.
In addition, he instructed ministries, sectors andlocal authorities to review State-owned enterprises to improve theirproduction and business effectiveness while speeding up disbursement ofofficial development assistance (ODA), State budget and foreign directinvestment sources, as well as improving social welfare and nationaltarget initiatives.
During the two-day meeting, Cabinet membersfocused on measures to remove the difficulties facing businesses,especially those regarding capital sources.
They agreed that measures to curb inflation and stabilise the economy have continued to prove effective.
As a result, the consumer price index (CPI) has steadily decreased throughout the year, especially over the past two months.
Credit institutions have made a lot of effort in lowering the interestrate on loans to a maximum of 15 percent per year, from July 15.
The country’s total export turnover also exceeded 62.9 billion USD, upby 19 percent over the same period last year, they said.
However, they admitted that many businesses still face a wide range ofdifficulties, especially when trying to access credit sources.
In addition, low domestic purchasing power, large stockpiles of goodsand more businesses announcing bankruptcy are also major challenges forthe country’s economy.
At the meeting the Governmentalso discussed several projects, including plans on comprehensiveeducation reform and the development of science and technologies to helpwith industrialisation, modernisation and international integration.-VNA
The trend will go on,particularly in curbing inflation, maintaining macro-economic stability,and promoting agricultural and industrial production, the PrimeMinister affirmed at the monthly Cabinet meeting in Hanoi on July30-31.
However, he said, economic growth during the past sevenmonths is lower when compared to previous years. Therefore, it will bedifficult to fulfill this year’s GDP growth target of 5.2 - 5.7 percent.
He urged all ministries, sectors and localauthorities to focus efforts assisting businesses to boost production,particularly those facing difficulty.
Priority inaccess to credit should be given to businesses operating in key sectorssuch as agriculture, manufacturing products for export and supportingindustries, the PM noted.
As an effort to maintain macro-economicstability and curb inflation, Dung asked the State Bank of Vietnamto restructure debts and reduce bad debts using synchronous measures,while restructuring weak commercial banks and maintaining a stableexchange rate.
In addition, he instructed ministries, sectors andlocal authorities to review State-owned enterprises to improve theirproduction and business effectiveness while speeding up disbursement ofofficial development assistance (ODA), State budget and foreign directinvestment sources, as well as improving social welfare and nationaltarget initiatives.
During the two-day meeting, Cabinet membersfocused on measures to remove the difficulties facing businesses,especially those regarding capital sources.
They agreed that measures to curb inflation and stabilise the economy have continued to prove effective.
As a result, the consumer price index (CPI) has steadily decreased throughout the year, especially over the past two months.
Credit institutions have made a lot of effort in lowering the interestrate on loans to a maximum of 15 percent per year, from July 15.
The country’s total export turnover also exceeded 62.9 billion USD, upby 19 percent over the same period last year, they said.
However, they admitted that many businesses still face a wide range ofdifficulties, especially when trying to access credit sources.
In addition, low domestic purchasing power, large stockpiles of goodsand more businesses announcing bankruptcy are also major challenges forthe country’s economy.
At the meeting the Governmentalso discussed several projects, including plans on comprehensiveeducation reform and the development of science and technologies to helpwith industrialisation, modernisation and international integration.-VNA
