Monday, November 20 2017

VietNamNews

Priority sectors need preferential credit: PM

Update: October, 04/2017 - 06:00
The cable-stayed Cao Lãnh Bridge spanning the Tiền River in Đồng Tháp Province opened in September. Part of the Central Mekong Delta Region Connectivity Project, the VNĐ3 trillion ($132 million)bridge was funded by Asia Development Bank loans and grants from the Australian government. — VNA/VNS Photo Nguyễn Văn Trí
Viet Nam News

HÀ NỘI — Priority sectors like high-tech agriculture, exports, small and medium-sized enterprises (SMEs) and start-ups should receive preferential credit, Prime Minister Nguyễn Xuân Phúc said yesterday.

“This is a key task for completing the 2017 socio-economic development plan,” he said at regular cabinet meeting in Hà Nội yesterday.

He also called for lower lending rates and drastic measures to restructure ineffective credit institutions and settle bad debts by the end of 2018.

The PM asked ministries and agencies to keep a close watch on prices of petroleum and services, as well as the foreign exchange market, both at home and abroad, from now until the end of this year, so as to enable timely, suitable policies.

He underlined the need to review and closely control State budget spending, and called for efforts to fulfill collection targets for the State coffers.

Meanwhile, more favourable conditions should be created to encourage private investment, he said, pointing out weaknesses in the restructuring of State-owned enterprises.

Only six percent of the VNĐ 3.1 quadrillion (US$136.6 billion) in State-owned enterprises had been capitalised, he said.

Phúc asked the Ministry of Industry and Trade to swiftly formulate a divestment plan for the Saigon Alcohol-Beer-Beverage JSC (Sabeco).

The Ministry of Finance was told to direct other ministries and agencies in accelerating divestment and equitisation, and regularly report outcomes to the PM.

Promoting exports and trade promotion, simplifying procedures, especially customs clearance procedures and licensing, are also important tasks, the PM said.

He asked concerned agencies to pay attention to trade barriers being erected in the US market against Vietnamese tra fish (pangasius) and shrimp.

Hà Nội and HCM City should boost the domestic market as part of efforts to balance exports and imports, he said.

While trying to ensure its growth rate, the Ministry of Agriculture and Rural Development should pay due attention to dealing with natural disasters, including flooding, from now until the end of this year, the PM said.

He suggested a shift from rice cultivation into other ventures like shrimp breeding, and said new markets should be scouted for Vietnamese farm produce.

Fishing activities need better policy protection, he told the ministry.

Tourism promotion should be stepped up during the upcoming APEC 2017 events and the remaining months of the year, he said, adding there were huge opportunities to reach the yearly target of serving over 13-15 million international visitors.

The PM also commented on social welfare, vocational training and firefighting in major cities, especially during the last months of the year. He also mentioned efforts to curb dengue and enhance management of drugs distribution.

Other issues dealt with at the meeting included inspection work, social order and safety protection, and fighting crime, particularly during the APEC Economic Leaders’ Week to be held next month in Đà Nẵng City, year-end festivities and the Lunar New Year holiday.

Thorough preparations should be made right now for carrying out the 2018 socio-economic development plan, the PM stressed.

Reviewing national socio-economic progress over the past nine months, he attributed achievements to orienting the growth model towards higher quality and competitiveness in major production sectors, a more favourable business environment, and improved professionalism among public sector employees.

At a press conference held later yesterday Minister and Chairman of the Government Office, Mai Tiến Dũng, said that to reach the annual growth target of 6.7 percent, a 7.4-7.5 percent growth was needed in the fourth quarter. This would require strong resolve and active solutions to remove remaining bottlenecks, he added. — VNS 

 

 

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