THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Minimizing unnecessary imports, curbing trade deficit
VGP – The PM on Thursday issued a document requiring competent agencies to tighten the import of unnecessary goods in order to curtail trade deficit. He also ordered an immediate prevention against unstable gold trading activities which can harm the national economy.
The Government chief
entrusted the Ministry of Industry and Trade to work with competent agencies in
boosting up export while issuing legal documents and adopting tariff measures to
control the import of unnecessary commodities.
Drastic measures should be taken to promote
export and reduce unnecessary imports
Reports released by the
General Statistics Office show that the export turnover in November stood at
around US $4.7 billion, down 6.5% compared to the previous one. For the past 11
months, the figure was estimated to be US $51.3 billion, dropping by 11.6% against
the same period last year.
So far, the turnover of
most imports for domestic consumption and production has fallen in comparison
to 2008. However, the import excess over export was estimated to be US $1.97 billion
in November and US $10.4 billion in the 11 months, equivalent to 20.3% of the
total export turnover.
Stopping harmful gold
trading activities
Also on November 03, PM Nguyễn
Tấn Dũng asked the State Bank of Việt Nam (SBV) to tighten the State management
over the gold trade, especially operations of the gold trading centers, in
order to stop all activities which can cause destructive impacts on the
national economy.
The SBV and other relevant
bodies must review regulations on foreign exchange activities, so that these activities
are conducted in line with laws. Any illegal activities will be strictly
punished.
The PM also authorized the
Ministry of Finance and the SBV to supervise, check and inspect operations of
securities companies and fund managing companies in order to guarantee healthy
trading activities on stock market.