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VietNamNews

PM urges greater efforts to rein in rising inflation

Update: September, 30/2013 - 08:52
Workers manufacture automobile and motorbike parts for Keihin Viet Nam Co Ltd in the northern province of Hung Yen's Thang Long 2 Industrial Zone. Prime Minister Nguyen Tan Dung asked relevant bodies to continue resolving difficulties in manufacture and trading. — VNA/VNS Photo Danh Lam

HA NOI (VNS)— Prime Minister Nguyen Tan Dung has called on the public and private sectors to continue efforts to help stabilise the economy and curb rising inflation.

Chairing the monthly cabinet meeting yesterday, the prime minister stressed the need to tackle bad debts and strengthen coordination of market growth and price management to ensure a balance of demand and supply.

PM Dung said efficient solutions were needed to promote production, lift trade and investment and access new markets.

Dung also directed both sectors to align restructuring plans with international integration and impending free trade agreements with foreign countries, to take advantage of new opportunities.

He also requested government agencies to allocate capital consistently between building new hospitals and upgrading those in major cities.

Cabinet members agreed that the country's economy had experienced active changes and was benefiting from improved economic growth.

They noted the country had succeeded in curbing inflation and stabilising the economy, citing lower interest rates and satisfactory credit growth.

Despite challenges presented by a mixed global outlook, industrial production, including manufacturing and processing, had enjoyed significant growth, according to official reports.

Also on the agenda was the nation's gross domestic product (GDP) from the first nine months of this year, estimated at 5.14 percent.

Ministers also took the opportunity to review consumer price index (CPI) data for September which saw an increase of 4.63 percent, the lowest increase over the past four years.

Exports were seen to rise 15.7 percent to nearly US$96.5 billion in the January to September period; while Minister of Agriculture and Rural Development, Cao Duc Phat, said agricultural production had staged a remarkable recovery, with agricultural and fisher exports up 0.5 percent over the past three quarters.

The minister also said that attention policies had been enacted to improve job generation and social welfare, as well as governance and social order.

Looking forward, cabinet members set their sights on energising the nation's slow economic recovery, low tax revenues and the high number of suspended businesses.

Many suggested that drastic policies would be needed across social welfare, housing, rural development and job creation.

The meeting also discussed the implementation of a general proposal on economic restructuring to align with shifting growth models. — VNS


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