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VietNamNews

PM calls for single digit inflation

Update: February, 06/2012 - 09:49

 

Workers at Ha Nam Textile Company. The Prime Minister has urged agencies to remove difficulties for industrial production. — VNA/VNS Photo Tran Viet
HA NOI — Prime Minister Nguyen Tan Dung stressed the need to limit inflation to a single digit as one of the country's urgent tasks to maintain a reasonable growth rate of around 6 per cent this year.

Chairing the Government's January meeting in Ha Noi on Saturday, Dung continued urging ministries and localities to work harder to stabilise the macro economy and implement policies on social welfare, security and defence.

To achieve these goals, the Government leader urged the State Bank to continue carrying out a flexible monetary policy to ensure the liquidity of the banking system while dealing with banks that demonstrated weak performance, gradually reducing interest rates and maintaining a stable foreign exchange rate.

The prices of coal, electricity and petroleum would be regulated in line with market prices and the established roadmap, he said.

According to the PM, ministries and localities should prioritise agricultural and seafood production to maximise the country's advantages along with removing difficulties for industrial production and restructuring public investment.

They needed to effectively implement target programmes on poverty reduction,especially in areas inhabited by ethnic minority people, as well as vocational training and epidemic control programmes. They should also focus on speeding up Party building work, administrative reform and corruption prevention, personnel work, and safeguarding security and defence, he said.

PM Dung noted positive socio-economic changes recorded in January when the entire country had a long Lunar New Year holiday, highlighting a sufficient supply of commodities, stable prices of essential goods, secured security and defence, and a decrease in traffic accidents.

However, the Prime Minister pointed to problems that had arisen in the first month of the year, including low growth in industrial production, exports and investment.

Cabinet members said that in order to fulfil socio-economic development tasks for 2012, the ministries and localities should focus on solving difficulties that faced businesses, especially small – and medium-sized enterprises, and increasing their access to capital sources.

They voiced concerns about traffic safety, the roadmap of regulating petrol prices under market rules, the nomadic life of ethnic minority people, vocational training and job generation for young rural people, health care services at the grassroots level, sustainable poverty reduction, and security and order.

Minister of Agriculture and Rural Development Cao Duc Phat said cities and provinces should keep an eye on the prevention of avian influenza and diseases on plants and animals, and protecting people's health in the process of implementing economic development tasks.

In order to minimise crop failures, the Minister of Home Affairs Nguyen Thai Binh proposed that the authorities should organise and direct good implementation of direct rice purchases from farmers this year to avoid market manipulation and price control by traders which resulted in losses among farmers.

Minister of Industry and Trade Vu Huy Hoang said the hydropower plants were releasing water in their second phase so the Ministry of Agriculture and Rural Development should guide cities and provinces in how to make the most of water resources to efficiently serve development of the winter-spring rice crop.

In January, the Consumer Price Index (CPI) grew 1 per cent, the lowest level recorded during Tet in the past ten years. Security and social order were maintained and cold weather affected agricultural production in the north.

Cabinet members discussed a draft report summing up the implementation of the 1992 Constitution, and revisions to some articles of the Tax Law and the Law on Natural Minerals.

At the press conference after the meeting, Minister and Chairman of the Government Office Vu Duc Dam announced that Dao Van Hung, Chairman of the Electricity of Viet Nam (EVN), had been dismissed due to weak management and inefficient operation in many sectors, including production and business at EVN Telecom.

Pham Le Thanh had been named temporary chairman of the EVN, he said. — VNS

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