return icon

Cabinet suggests reasonable economic growth

 VietNamNet Bridge – Cabinet members have suggested priority to sustaining macro-economic stability and reining in inflation in tandem with accelerating economic growth at an appropriate rate.

VietNamNet Bridge – Cabinet members have suggested priority to sustaining macro-economic stability and reining in inflation in tandem with accelerating economic growth at an appropriate rate.


PM Nguyen Tan Dung addresses the monthly Government meeting. (Photo: VNA)

The proposal was made at a monthly Government meeting in Hanoi on August 27-28 to review the socio-economic performance in January-August and deliberate steps to fulfill this year’s goals.

Over the past eight months, the macro-economy has been fairly stable with reduced inflation, falling interest rates and upbeat credit growth. Industrial production, particularly that of the processing industry has seen positive signals. The agriculture and service sectors also recorded growth.

Exports made higher growth than expected while the foreign direct investment flow has moved upwards.

Social welfare was ensured and jobs were generated for 990,000 people. Political security and social order were defended.

During the meeting, several Cabinet members voiced that interest rates should continue to be kept at reasonable levels amid the current inflation and business obstacles should be cleared for enterprises.

According to Minister of Industry and Trade Vu Huy Hoang, the institutional reform is critical, otherwise, impetus to push growth and development will be by no means created.

Addressing the event, Prime Minister Nguyen Tan Dung hailed positive changes in almost sectors, however, pointing out that they remain unstable.

He directed ministries and sectors to attain an economic growth of 5.3-5.4 percent from now to the end of this year.

To reach such goal, the PM asked them to manipulate monetary tools in an active and flexible manner and work closely together to monitor prices so as to curb inflation at nearly 7 percent.

At the same time, the ministries and sectors must closely watch State budget collection and spending while persisting on the estimate of budget collection and expenses to keep overspending at 4.8 percent of GDP as adopted.

Assessing export as a bright spot in the national economy, the Government leader, however, stressed the need to expand export markets and work harder to promote trade and investment abroad. He also called for ensuring social security and welfare, creating jobs, reducing poverty further, bettering healthcare and education, and building the new style of rural areas.

Moving on to national defence and security, the PM said they must be reinforced to safeguard political security, social order and national sovereignty. External activities must be improved to help the country well plugged into global integration, thus helping ensure national interests.

At this meeting, the Cabinet members also debated preparations for the national development plan for 2014 and solutions to realise socio-economic development goals to 2015 and listened to reports on the implementation of economic restructuring and growth model transformation and the restructuring of State-owned enterprises among others.

Source: Vietnam Plus


Steering committee established to boost economic recovery effort

The Government has established a steering committee for the deployment of the country’s economic recovery and development program, led by Deputy Prime Minister Le Minh Khai.

Entertainment and cultural events of the week (July 4-10)

Upcoming entertainment and cultural events in Vietnam's major cities on July 4-10/2022.

Kim Duyen wins Supra Model Asia at Miss Supranational 2022

Kim Duyen - Vietnamese representative at Miss Supranational 2022 - qualified in the top 11 Supra Chat and was awarded the title of Supra Model Asia of Miss Supranational 2022.

VN Trade Promotion Department lauds ASEAN export opportunites

Vietnamese businesses have many opportunities to increase export goods to Thailand, Laos and Cambodia, according to the Trade Promotion Department of the Ministry of Industry and Trade.

New policy boosts insurance market's long-term development

The newly-issued Law on Insurance Business is expected to positively impact the insurance market's long-term development.

Rules on business in prize electronic games for foreigners

The Ministry of Finance has issued a circular guiding the implementation of some articles of the Government’s Decree No. 121/2021/ND-CP on business in prize electronic games for foreigners in Vietnam.

Vietnam wins 13 awards at “Two country circuit” photo contest

Vietnamese photographers have won 13 medals and certificates of honour in travel, portrait and free categories at the 7th “Two Country Circuit” photo contest 2022.

True Italian Taste 2022 promotes Italian cuisine in VN

True Italian Taste 2022, a project aiming to promote authentic Italian cuisine to the world, has kicked off in Vietnam.

Who will work when so many public-sector staff have been disciplined?

“No need to worry that the country won’t have cadres to work," said Party Secretary General Nguyen Phu Trong.

Labour export to South Korea temporarily halted for eight localities

The Ministry of Labour, Invalids and Social Affairs (MoLISA) has announced that the labour migration programme with South Korea will be temporarily suspended for eight districts, towns and cities.

VN central bank resumes bill issue channel to net withdraw money

The State Bank of Vietnam (SBV) has used the bill issue channel again to net withdraw money out of the banking system for the first time since June 2020.

Extended excise tax deadline does not affect car prices: experts

Decree No.32/2022/NĐ-CP issued recently by the Government, which extends the tax payment deadline for payable excise tax, will not directly affect domestic car prices, according to industry insiders.

Vietnam urgently fighting against climate change

Climate change (CC) in Vietnam is increasingly complicated, with more extreme and severe disasters happening (heat waves, heavy rains, storms, tropical depressions).

Tan Son Nhat to be part of airport urban development project

Ho Chi Minh City aims to develop Tan Son Nhat Airport urban area with commercial and service streets associated with transportation.

Businesses urged to adopt green production to avoid high taxes

If businesses don’t reduce carbon emissions, their exports to the EU will face a new kind of tax, which would make products more expensive, thereby affecting their competitiveness in the market.