During the 3-day meeting, government leaders have fruitfully
reviewed the nation’s socio-economic performance in the first quarter while
drafting new development plan for the rest of the year.
Top Government leaders
preside over the Government’s March regular meeting held in Hà Nội from March
30 to April 01, 2010 - Photo: VGP/Nhật Bắc
The Cabinet also centered their discussions on numerous
bills and legal documents.
VN’s economy saw good leap
Reports show that the nation’s GDP
in Q1 of this year stood at 5.83%, increasing 1.9 times against the same period
of last year.
The major sectors contributing to
this leap are industry, agriculture and service with the production turnovers
increased at 13.6%, 5.8% and 6.64% respectively.
In addition, State budget collection until March 15 reached 20%
of the set target, investment value increased by 26.23% against the same period
of last year, and social welfare were secured.
Macro-economic stability remains a
top priority
The government leaders paid more attention to discussing on
how to stabilize the macro-economy as the Consumer Price Index continued to
witness a raise. At the same time, bank interest rate was still high, credit
growth was slow and foreign investment decreased.
PM Nguyễn Tấn Dũng especially turned the red light on macro-economic
instability which was visibly shown in the high trade gap and the imbalance of foreign
currency reserves. Not to mention, the effectiveness of investment and
production was still not powerful enough to counter international and domestic
competition.
The Government’s March regular meeting held in Hà Nội from March 30 to April 01, 2010 reviews the nation’s socio-economic performance in the first quarter while drafting new development plan for the rest of the year - Photo: VGP/Nhật Bắc |
Revitalizing performance for higher efficiency
The State Bank was assigned to
control the growth pace of credit, and to smooth the interest rate in order to
meet the demand of market. It has to regulate the monetary circulation and the
credit loan in accordance with the pre-set development targets and the current
economic actualities.
“The State Bank needs to avoid
jumpy management,” the PM said.
The State Bank will collaborate with the Ministry of Finance
to supervise all operations of credit organizations and non-banking institutions
in order to secure financial safety.
The
Government chief suggested the credit expansion to effective projects,
agriculture, export, small and medium enterprises, and import of products which
are not yet made at home.
PM Nguyễn Tấn Dũng (L) discussing with Deputy PM Phạm Gia Khiêm (R) at the Government’s March regular meeting held in Hà Nội from March 30 to April 01, 2010 – Photo: VGP/Nhật Bắc |
PM Dũng also requested the Ministry of Industry and Trade
and other related agencies to speed trade promotion, help enterprises surf for
new export markets, produce more exports and products which can replace the imported
ones, and attract more investors.
Particularly, the PM urged ministries to avoid the consecutive
hikes of petrol price while maintaining the current electricity price for the
rest of this year.
By doing so, ministries expect to be keen in managing their
fields, keeping up with and analyzing the world and national situations, then putting
forth timely solutions for better socio-economic performance.