PM Nguyen Tan Dung chairs the Government’s regular meeting, Ha Noi, August 28, 2013 – Photo: VGP/Nhat Bac

A majority of Government members proposed the implementation of the dual targets of maintaining macro-economic stability and lowering inflation as important as accelerating economic recovery and keeping a reasonable growth pace.

The economic restructuring, the transformation of growth model, the maintenance of social welfare and the improvement of people’s material and spiritual lives must be promoted, they said.

Deputy PM Hoang Trung Hai suggested issuing more instructions to develop the domestic and foreign markets, especially the export markets with a high degree of potential.  

Addressing the meeting, PM Nguyen Tan Dung requested that the goals of inflation curbing, macro-economic stability and reasonable growth rate maintenance should be realised seriously to retain GDP growth rate at round 5.3-5.4%.

The Government chief asked ministries, agencies and localities to flexibly use monetary and fiscal instruments to control inflation and stabilize the macro-economy. Accordingly, ministries, agencies and localities have to work closely to maintain CPI at about 7% and budget overspending at 4.8% of GDP as agreed previously.

He also called for the giving of more drastic directions to site clearance and investment disbursement of ODA-financed projects.

Mr. Dung tasked his inferiors to take stronger actions to extricate business difficulities, support markets, handle non-performing loans, and speed up the administrative reform in order to offer favourable conditions for enterprises to florish. 

According to PM Dung, export is a bright point in the macro-economic landscape and should be given more investment resources to seize larger market share, increase trade and investment promotion activities, and focus on agricultural production and advantageous fields. 

The Government leader also instructed ministries and agencies to pay attention to social welfare, vocational traning, job creation, poverty reduction and the building of new style rural areas./.

By Khanh Phuong