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Gov’t clarifies first-five-month performance

VGP – Deputy PM Nguyen Xuan Phuc on Friday presented a report to update socio-economic performance in the first five months of 2013 at the ongoing 5th session of the 13th National Assembly.

06/14/2013 17:14

The report covers progress in key fields like settlement of non-performing loans, tax policy and development investment, inventories, economic restructuring, traffic safety among others.

Regarding macro-economy, Deputy PM Phuc said inflation was put under control and consumer price index increased by 2.35%, the lowest pace in four years.

Export rose 15.1%, while import surged 16.8%, in the reviewed period. 

Registered foreign direct investment reached US$8.52 billion, up 8.9% and the disbursed volume stood at US$4.58 billion, an increase of 1.6%.

Dealing with NPLs

PM Nguyen Tan Dung on May 31 signed Decision No. 843/QD-TTg approving the Project on resolving non-performing loans at credit organizations and the Project on establishing asset management company (AMC).

The Government targets to settle VND 105 trillion of non-performing loans by the end of this year and bring the ratio of non-performing loans to safe level by 2015, Deputy PM Phuc told law-makers.

Tax policy and development investment

The Government continued policies on tax payment delay or tax payment exemption, under which businesses retained around VND 37.7 trillion to maintain production.

To overcome scattered investment and improve public investment, the Government continued to implement the PM’s Directive No. 1792/CT-TTg on strengthening investment management from State budget capital and Government bond capital

It also focused on improving mechanisms and policies to attract foreign investment, especially big companies, into high-tech and energy-saving sectors.

Economic restructuring

Deputy PM Phuc said economic restructuring is at initial stage now as it is a long and complicated process involving all socio-economic fields. Thus, it needs time.

To move on, the Government approved the master plan on economic restructuring and focused on improving institutions for it.

According to Deputy PM Phuc, in the time to come, the Government will speed up equitization and request State-owned enterprises to withdraw State capital from their non-core business lines prior to 2015./.

By Hai Minh