VietNamNet Bridge – Prime Minister Nguyen Tan Dung has emphasised the need to intensify macroeconomic stabilization measures with a particular focus on keeping inflation in check.

 

The PM chaired the monthly Cabinet meeting on April 26 in Hanoi to review socio-economic issues in April and during the first four months of this year.

During the meeting, Dung asked cabinet members to fine-tune mechanisms and policies to increase the effectiveness of State management.

The Vietnamese economy continued to see positive changes in the first quarter and April, with the continuous lowering of interest rates helping to ease business difficulties and significantly increase national foreign currency reserves.

The April Consumer Price Index rose by 0.02 percent compared to the previous month, the lowest April level for four years.

Exports were estimated at US$39.46 billion, a year-on-year increase of 16.9 percent, social security has been ensured and the general standard of living has been improved.

PM Dung urged ministries, branches and localities to create favourable conditions for attracting investment, especially foreign invested and high-tech projects.

He asked them to ensure traffic safety and reduce road congestion and the number of accidents. He also said they should be more active in preventing the spread of blue-ear disease, avian influenza H5N1 and the H7N9 virus, and implement measures to protect national sovereignty and ensure national defence, political security and social order.

He added that they should work on better trade promotion, developing the domestic market and expanding export markets.

It is imperative to continue pursuing the 2013 socio-economic targets, strengthening macro-economic stabilisation, controling inflation and providing capital for prioritised sectors to ease difficulties in production and trade difficulties, he declared.

Dung said that better observation and more effort is needed to restructure public investment mechanisms, state-owned enterprises and the banking sector.

The cabinet members pointed out some shortcomings, especially in processing and manufacturing, which have been hit hard by high input costs, low purchasing power and slow sales.

They said that barriers must be removed and better conditions created to promote production and business and maintain growth, while also developing agriculture and industry.

Cabinet members agreed on revising Article 170 of the Law on Enterprises for submission to the NA, aiming to remove difficulties and create a solid legal foundation for foreign invested enterprises to ensure their effective, long-term operations in Vietnam.

They also contributed opinions on the regulations for guiding and implementing articles in the Advertisement Law as well as a project to streamline administrative procedures.

Source: VOV