Monday, July 16 2018


PM pushes sustainable socio-economic growth

Update: May, 27/2013 - 09:08
Farmers can access preferential loans to buy agriculture machines. Viet Nam's Government has made efforts to control inflation, stabilise prices and stimulate production to approach sustainable growth. — VNA/VNS Photo Tran Viet

HA NOI (VNS)— The Government is making efforts to control inflation while still spurring production and stabilising the macro-economy, Prime Minister Nguyen Tan Dung told the monthly cabinet meeting in Ha Noi yesterday.

The PM underscored the need to achieve sustainable growth to avoid generating inflation hikes on the country's economic restructuring process.

Reviewing the socio-economic progress in the first five months, cabinet members said that all levels and branches have implemented solutions issued by the Party Central Committee, the National Assembly and the Government.

This contributed to controlling inflation, stabilising prices, lowering interest rates and stimulating production.

The CPI in May fell by 0.06 per cent from the previous month. Registered FDI was estimated at US$8.52 billion in the first five months, an 8.9-per cent year-on-year increase.

Cabinet members acknowledged progress in improving the lives of most people, especially the poor, ethnic people and the unemployed.

The national economy, however, continued to face problems, especially in agriculture, forestry and aquaculture, industrial and construction sectors.

Reduced purchasing power had led to slow recovery of industrial production and livestock, poultry and fish farming.

In addition, restructuring commercial banks, settling non-performing loans in the banking system and unbuckling the real estate sector were slow processes.

Members of the Government also called for the need to continue promoting production and supporting businesses, increasing investment and trade promotion activities and restructuring public investment, state-owned enterprises and credit institutions.

Dung instructed ministries, sectors and localities to continue following the goals set down in resolutions adopted by the Party Central Committee, the National Assembly, and the Government.

He requested they take measures to ensure web safety and propose punishments against the misuse of the Internet to blacken, slander and distort the country's situation.

At a press briefing yesterday, head of the Government Office Vu Duc Dam said the Government was watching out for both inflation and deflation.

Answering questions on upgrading National Highway 1A and the section of Ho Chi Minh highway that passed through the Central Highlands, Dam said both projects were strategic.

However, he said total capital for construction was slowing down nationwide and the Government planned to ask the NA to issue bonds to fund them.

He said the Government was also considering other long-term projects to build new hospitals and water irrigation projects

Regarding a power blackout in 22 southern provinces last Wednesday, the Deputy Minister of Industry and Trade, Le Duong Quang, said it showed that the 500KV North-South electricity line was vulnerable.

However, he said HCM City was able to resume power in five hours while it took other provinces eight hours.

Dam said the Government had asked the Industry and Trade Ministry to analyse the case and improve the electricity grid. — VNS

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