VietNamNet Bridge – Prime Minister Nguyen Tan Dung had a periodical working session with experts and economists to discuss on January’s socio-economic situation and solutions to achieve targets set for 2013.

The meeting between Prime Minister Nguyen Tan Dung and experts, economists in Ha Noi on January 25, 2013. (Photo: VGP)

Official report shows that the economy continued to witness progress in the first month of 2013 with industrial production index increasing by 21.1%, export value up 43.2%, service up 8.1%, and foreign investment capital up 5%.

Despite domestic economic hardship, the Government has freely allocated 19,000 tons of rice to support the poor during between-crop times and Lunar New Year holiday, said the Ministry of Planning and Investment.

Experts and economists, however, noted that challenges still remain in 2013. Noticeably, the consumer price index which rose by 1.25% in January may make it difficult for the Government to realize the set inflation target if synchronous measures are not taken.

They also held that it would also be impossible for the Government to stabilize macro-economy, regain growth momentum, restructure the banking system, and defuse the frozen real estate market without specific roadmaps.

The Government needs to continue its drastic and long-term solutions to settle non-performing loans (NPLs), restructure State-owned enterprises (SOEs), create jobs and expand export markets, the participants proposed.

PM Dung pointed out a number of challenges, including slow promulgation of documents detailing the implementation of policies, inefficient coordination among inferior levels, price hikes, slow credit growth and high rate of bankruptcy.

He said the Government will continue to lower lending rates, support production and business, and deal with NPLs and inventories while beefing up restructuring process of banking system and SOEs.

The Government chief asked experts and economists to further put forward ideas for better direction and management of socio-economic development.

Source: VGP