Government to create momentum for development

The Government will take measures to create momentum for economic development right in the first months of this year, particularly in the context of dropping oil prices, Chairman of the Government Office Minister Nguyen Van Nen said at a regular press briefing on January 29.

He said all sectors should speed up the disbursement of capital for projects, particularly those in infrastructure, while continuing to improve the business and investment climate as well as raising competitive capacity to catch up with the four more developed countries in the ASEAN by the end of this year. 

Minister Nen also urged ministries, sectors and local authorities to provide timely support for farmers hard hit by the recent severe cold spell. 

government to create momentum for development hinh 0

Mentioning preparations for the upcoming Lunar New Year, the minister said the trade-industry sectors have been instructed to stock up on goods and keep a close check on good quality and food safety. 

The transport sector is required to ensure sufficient means of transport to meet the need of people who want to return home for Tet. 

The minister reported a positive socio-economic situation in the first month of 2016, with the consumer price index not changing from the previous month while total demand and purchasing power increased, as seen in an 11.7 percent increase in total retail and service revenues. 

According to the Ministry of Planning and Investment, January’s exports revenue went up 2.2 percent year on year to an estimated 13.8 billion USD. Foreign direct investment also improved with the numbers of both new projects and expanded projects more than doubling from the same period last year. 

The government has instructed ministries to take action to facilitate export and control imports, as well as assist domestic enterprises in getting ready to adapt to the Trans-Pacific Partnership (TPP) agreement, free trade agreements and commitments to the ASEAN Community. 

Deputy Minister of Industry and Trade Do Thang Hai informed the media that Minister of Industry and Trade Vu Huy Hoang will lead a delegation to Australia and New Zealand as from January 30 to bolster cooperation with the two countries. The delegation includes many business representatives, who wish to study the advantages offered by free trade agreements, the deputy minister said.

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