Prime Minister Nguyen Xuan Phuc asked the Ministry of Planning and Investment (MIP) to update quarterly growth scenarios for each sector during the monthly government meeting in Hanoi on June 2. 

Prime Minister Nguyen Xuan Phuc at the meeting 

Based on such scenarios, the MIP is required to suggest specific measures to successfully achieve set targets, which should be reported to the government before June 20. 

While devising scenarios, regional and global economic situation, trade tension, fluctuation of oil prices should be taken into consideration, thus laying a foundation for the building of specific policies, he said. 

Ministers, government members, Chairs of municipal and provincial People’s Committees were urged to remove difficulties, cut administrative procedures to keep improving the business climate. 

Reiterating the need to curb inflation below 4 percent this year, he asked ministries, agencies and localities to closely track the market, especially farm produce and ensure the supply of key materials such as cement, iron and steel, and petrol. 

On speeding up public investment disbursement, he noted that those involved in not using capital in time will be disciplined and face capital cut. 

In order to facilitate manufacturing and trade, the PM directed continuing to cut lending rates. As black market credit is prevalent, he requested the Ministry of Public Security and the banking system to thoroughly deal with the issue. 

At the same time, fiscal and monetary policies should be taken synchronously to stabilise the macro-economy while strengthening management and regulating the securities market. 

The leader noted that the Ministry of Agriculture and Rural Development must effectively direct “yellow card” issue warned by the EU while stabilising pork prices, well managing the fertiliser market and safety of dykes before the rainy season. 

Transport Minister Nguyen Van The was asked to continue collecting public opinions and consider names for BOT fee collection stations, instead of using the name “price collection stations”. 

In culture, sport and tourism, the PM directed working out measures to access key tourist markets and seriously dealing with issues in the Vietnam Football Federation. 

The leader reminded units concerned to ensure safety of pupils during summertime, especially drowning prevention. The Ministry of Education and Training must deal with the shortage of toilets and the issue of substandard toilets in schools, he said. 

Localities must continue strictly dealing with deforestation cases involving officials and Party members while inspecting food safety to ensure public health, and handling violations in fire prevention and control, especially during summertime. 

Government members, Chairs of People’s Committees, officials and cadres nationwide were urged to seriously abide by the Resolution adopted by the fourth plenum of the Party Central Committee on Party building, prevention of moral and lifestyle degradation, and accelerating the combat against corruption and negative phenomena. 

He assigned the government’s two working groups to oversee assigned tasks, especially important ones in ministries, agencies and localities this year to report to the government’s monthly meetings. 

PM asks for measures to curb inflation below 4 pct this year

Prime Minister Nguyen Xuan Phuc directed not increasing electricity prices this year, as one of measures to control inflation below 4 percent as assigned by the National Assembly, during a monthly government meeting in Hanoi on June 2.

He also directed adjusting education and health care fees in an appropriate time and managing credit for manufacturing and trade properly. 

“It’s not easy to ensure the macro-economy is stable and the inflation rate is below 4 percent when the oil prices in the global market are soaring,” the PM stressed.

He warned some localities about being subjective in their management as it could make it hard for the efforts to rein in inflation. 

Reviewing socio-economic performance in the first five months of this year, the PM lauded localities for striving to achieve economic growth. 

According to him, the Purchasing Managers’ Index (PMI) of Vietnam was up 53.9 point in May, the highest in ASEAN. The total rice production increased by 1.1 million tonnes during the winter-spring crop, fueling rice export and bringing higher income to farmers. 

Animal husbandry and aquatic production were growing while new progresses were seen in new rural development. 

Industrial production rose by 9.7 percent during the period, with manufacturing and processing up 11 percent. 

The total retail and consumer goods revenue hiked 10.1 percent. The total foreign arrivals in Vietnam was estimated at 6.7 million, up 27.6 percent year-on-year. Five-month exports surged 15.8 percent to 93.1 billion USD while trade surplus reached 3.4 billion USD. Foreign direct investment disbursement stood at 6.75 billion USD, marking a nearly 9 percent increase. 

There were around 53,000 newly-established enterprises and the total newly-registered capital neared 1.3 quadrillion VND.  

However, public investment disbursement was nearly 29 percent of the set target, not only in ministries, agencies but also in the capital city Hanoi and the southern metropolis Ho Chi Minh City, resulting in delayed construction and higher costs. 

The PM requested continuing to attract domestic and foreign investment, and further raise industrial production index, especially in manufacturing and processing. 

Though agricultural production prospered, cross-border trade in farm produce remains high. Moreover, forest exploitation and illegal logging still occurred in the Central Highlands provinces of Dak Lak, Dak Nong and the northern province of Bac Kan. 

Management of lakes, dykes to brace for the rainy season, and traffic safety, especially in railways, remain complicated, he admitted. 

In administrative reform, he urged creating a better business environment to achieve the goal of having 1 million businesses by 2020. 

Ministries and agencies were asked to review the first-half socio-economic and environment performance so as to fulfill this year’s assigned tasks. 

On the occasion, he also assigned government members to make thorough reports in preparation for question-and-answer sessions during the ongoing fifth session of the 14th National Assembly.

VNA