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7:57 PM, 05/08/2008

Gov’t continues to prioritize inflation curbing, macro-economic stability and social security

VGP – Concluding the Government’s two-day July regular meeting on August 5, PM Nguyễn Tấn Dũng asked ministries, sectors, provincial-level People’s Committee to continue focusing on four key goals: reining in inflation, stabilizing macro-economy, maintaining growth and ensuring social security in the last months of 2008.

The Government’s July regular sitting -Photo: VGP

Speaking of socio-economic situations in July and the first seven months, the Government chief hailed ministries, sectors and local authorities for their great efforts in curbing inflation, stabilizing consumer prices, maintaining growth, ensuring social security, reducing traffic accidents and hunger.

Việt Nam saw some positive socio-economic results in July and the first seven months:

-          Industrial production increased 16.1% and 16.4% in July and the first seven months respectively;

-          Winter-spring and Summer-autumn bumper crops helped to stabilize farmers’ livelihood and increase the volume of export rice;

-          Export turnover reached US $36.8 billion, up 37.7% against the same period last year;

-          Total seven-month budget collection rose up 45.6%;

-          CPI increased 1.13%, the lowest since the beginning of the year;

-          FDI hit new record (up 3.7 times) against 2007 (US $45.2 billion), in which US $6 billion disbursed, up 43%;

-          Nearly 2,000 unnecessary projects canceled, saving VND 5,991 billion.

However, “some organizations and individuals have not been fully aware of their responsibility for curbing inflation, not actively reduced production and business costs, made use of the readjustment of fuel prices to raise prices of some goods, causing negative impacts on production and people’s life”, PM Dũng criticized.

To fulfill the year plan 2008 and obtain a GDP growth rate of 7%, the PM urged all ministries, sectors and local authorities to give priorities to and drastically implement eight solution packages. He highlighted the following tasks:

- To boost production and business; to further simplify administrative procedures, especially in exporting key products (seafood, rice, coffee, vegetables, fruits, rubber, textiles, footwear, electronic products, machinery); to enhance thrift practice and application of technological advances.

- To tighten control over prices and markets, strictly punish goods speculation, prevent sudden escalation of primary goods; to stabilize selling prices of some commodities until late 2008 (electricity, coal, fresh water, public bus fee); and to properly readjust prices of some others in line with market principles and under strict supervision.

- To continue cutting unnecessary projects to pour capital into main production and business activities; to speed up equitization of State-owned enterprises.

- To ensure social security while paying attention to national defense and security, anti-corruption, and administrative reforms.

The Cabinet also considered and give comments on some draft legal documents.

By Hồng Uyên

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