The Government’s regular working session for October, presided over by PM Nguyễn Tấn Dũng, has taken place in two days (October 29-30) in Hà Nội to analyze the national socio-economic realities in October and the first ten months of 2009.

All participants agreed that the economic stimulus policies have brought about substantial results. Specifically, GDP growth rate is expected to jump from 5.76% in Q3 to 6.8% in Q4, and to stand at around 5.2% in the whole year.

Industrial production has seen the fastest progress, up 11.9% in October against the same period last year. Private sector and foreign-invested sector enjoy considerable surges of 15.7% and 12.1% respectively.

The total value of retail sales in October jumps by 18% against the same period in 2008.

PM Nguyễn Tấn Dũng required competent agencies to pursue flexible financial and monetary policies and encourage export activities for the fulfillment of the socio-economic goals set for the rest of the year and the upcoming time.

The PM approved to continue economic stimulus policy in 2010 for sustainable growth and social security.

Particularly, preferential policies on loans for agricultural activities will be extended until December 31, 2010, with some adjustments in line with the reality.

The 4% interest rate subsidy program for enterprises will be concluded at the end of the first quarter next year and the Government will prioritize firms extensively employing laborers and producing exports, said the PM.

The State budget, spent on development investment, has to be continued for the purposes of job generation and better infrastructure upgradation, said the Government chief.

He ordered all ministries to fight against corruption, prodigality, and resolve the public’s complaints.

By Hương Giang