Cabinet meeting discusses market stabilization measures
(VOV) - The Government’s February meeting has underlined the need to intensify bad debt resettlement, restructure the banking system and prevent weak banks from destabilizing the financial and monetary market.
Prime Minister Nguyen Tan Dung on February 28 chaired a cabinet regular monthly meeting in Hanoi to review socio-economic issues and devise measures to effectively implement the National Assembly (NA) and Government’s resolutions on the 2013 socio-economic development.
Cabinet members agreed that the Prime Minister’s directions on stabilizing price, promoting production, dealing with difficulties in the real estate market and preparing for the Lunar New Year (Tet) Festival have gained positive results.
February’s lending interest rate in VND decreased slightly from last month’s figure while the foreign currency market remained stable.
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In the first two months of this year, disbursement of foreign direct investment (FDI) was estimated to reach US$1.05 billion, up by 5 percent from the same period last year.
Export earnings in the reviewed period reached nearly US$19 billion, 29 percent higher than last year’s figure.
The February Consumer Price Index (CPI) rose by only 1.32 percent on the previous month -- the lowest in the past four years. The CPI increase of 2.59 percent in the first two months was also a low rate over the past years.
PM Dung called for greater efforts by ministries, sectors and localities to remove difficulties in production and business, accelerate the disbursement of investment capital, encourage direct foreign investment, curb inflation, stabilise the macro-economy, and combat smuggling and human trafficking.
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The focus should be on ensuring the effective implementation of the Government’s resolutions on the socio-economic development and dealing with inventories and expanding the market, Dung stressed.
He asked the State Bank of Vietnam (SBV) to find better ways of restructuring the banking system, solving bad debts, lowering lending interest rates and creating favourable conditions for businesses.
Dung also urged ministries, sectors and localities to closely coordinate with relevant agencies to prevent epidemics and crime, reduce traffic accidents and pay due attention to social welfare policies.
Ministries should work hand in hand for effective Trans-Pacific Partnership Agreement (TPP) negotiations, he noted.
During the meeting, cabinet members also gave opinions on projects and measures to adapt to climate change and protect environmental resources and a pilot urban administration model.