PM Nguyen Tan Dung on December 1 chaired the Cabinet monthly meeting to deliberate on socio-economic performance in November and the first 11 months of 2014.

The Government said that the socio-economic performance in November and the first 11 months was positive with stable macro-economy, controlled inflation, and continued economic recovery.

The consumer price index fell in November thanks to sharp decreases in petroleum price, according to Minister of Planning and Investment Bui Quang Vinh.

He added that the total retail sales of goods and services were estimated to increase 11.1% as part of the bright side of the economy.

Governor of State Bank of Viet Nam Nguyen Van Binh revealed that credit growth was estimated to expand 13% this year compared to the preset target of 12-14% this year, adding that there was no sign of recession.

The country’s business environment has been increasingly improved, particularly after the National Assembly approved the two revised laws on enterprises and investment on November 26.

However, SOEs restructuring failed to meet the requirements, ethnic groups and people in disaster-hit areas still found it hard to earn their living while crimes, traffic accidents and environmental pollution remained complicated.

Speaking at the meeting, PM Dung expressed his belief that the Government will fulfill the targets set for 2014 with the GDP projecting to grow over 5.8% this year.

Ready for realization of 2015 goals

The Cabinet members also discussed ways to realize key goals for 2015 during the one-day meeting.

PM Dung urged inferior levels to stand ready for early deployment of the tasks for 2015.

The Government chief also tasked ministries, agencies and localities to keep the current payrolls unchanged in 2015 as part of the effort to improve the efficiency of the public sector.

Inferior levels were also asked to step up promulgation of legal documents on guiding laws which have been adopted by the National Assembly at its 8th working session.

VGP