Impetus needed for high and sustainable growth in 2010

VGP – The Government on Saturday issued the Resolution of its November regular meeting, assigning ministries, sectors and local authorities to enforce the adopted solutions and policies in order to fulfill the yearly socio-economic goals for 2009 and lay the foundation for a high and sustainable growth rate next year.

December 05, 2009 4:49 PM GMT+7

The Government decides to continue some economic stimulus policies to create impetus for sustainable growth in 2010 – Illustration photo

The Government entrusted the State Bank and the Ministry of Industry and Trade to propose reasonable interest rate incentives applied for long and medium-term loans in 2010. Loans to serve the procurement of machines and input materials for agricultural production and building houses in rural areas will receive interest rate incentives. The proposals, if approved by the PM, will be applied from January 1, 2010 on.

Also in 2010, many new important policies will come into force, including the Law on the Elderly, Law on Medical Treatment and Examination, Law on Telecommunications, Law on Radio Frequency and the Law on Civil Defence which were just ratified by the NA on November 23.

Recent ups and downs seen on gold, foreign exchange and stock markets were thoroughly discussed by the Government during the November meeting.

In its resolution, the Government assigned the State Bank and relevant agencies to strictly prevent and punish any illegal gold and foreign exchange transactions which can trouble and harm the national economy.

The Government also ordered the Ministry of Finance and the State Securities Commission to tighten their supervision and inspection, discovering and settling manipulatory transactions on stock markets.

Ministries, sectors and local authorities were urged to push up administrative reforms, so as to slash down at least 30% of administrative procedures.

By Xuân Hồng