The Government's regular meeting chaired by Prime Minister Nguyen Xuan Phuc was held today, January 31, aimed to assess the country’s socioeconomic performance in January and check Tet preparation activities, the local media reported.

Prime Minister Nguyen Xuan Phuc at the Government's regular meeting on January 31 - PHOTO: VGP

Speaking at the meeting, the prime minister lauded the positive economic development in the first month of 2019. In particular, this month saw the price consumer index pick up by 0.1% while the exchange rate remained stable.

Further, the State Bank of Vietnam purchased over US$4 billion in January to spur the foreign exchange reserves.

In addition to the industrial production index rising by nearly 8%, total retail and consumer service revenues also surged this month. Also, the investment sourced from the State budget edged up by 8.5%.

Besides this, the prime minister said that the country’s export generated over US$20 billion in January, but Vietnam spent US$20.8 billion importing commodities due to high demand of consumers at the end of the year.

Aside from some 10,000 enterprises being newly established, more than 8,000 firms have recently resumed their operation in the country.

Phuc, however, asked ministries and localities not to neglect the country’s situation as Vietnam’s economic openness is high in the context of complicated changes and development of the global market.

Furthermore, the prime minister required the Government’s members to strengthen management right after the Tet holiday in order to address chronic problems such as traffic accidents.

At the meeting, Phuc also asked the relevant ministries and departments to keep a close eye on market prices to adopt proper measures.

Particularly, the State Bank of Vietnam was asked to manage and control currency and exchange rate policies effectively, and fulfill the target of curbing inflation, stabilizing the macro-economy and boosting the economic development.

The Ministry of Finance is responsible for further tightening control over financial regulations and transparently conducting inspections and supervision on the use of the budget.

In addition, Phuc stressed that it was vital to support residents, especially those living in remote and mountainous areas, to enjoy the Tet holiday, adding that goods should be supplied sufficiently during the national holiday.

SGT