More efforts called for socio-economic development

While presiding over the cabinet’s monthly meeting in Hanoi on June 27, the PM emphasized that in the second half of this year, it is necessary to continue to curb inflation and stabilize the macro economy with the aim of achieving an annual growth rate of 5.5 percent. 

He asked the State Bank of Vietnam (SBV) to reduce lending interest rates to a reasonable level suitable for controlling inflation. 

Meanwhile, he called for ministries, sectors and localities to radically expedite restructuring schemes, pay more attention to the mobilization of investment from society, and enable enterprises to develop, while promoting the attraction and disbursement of FDI and ODA capital. 

The PM said it is crucial to better carry out policies on tax exemption, reduction and extension, thus creating favourable conditions for enterprises to access capital. 

At the same time, it is necessary to put the Vietnam Asset Management Company (VAMC) for credit institutions into operation at an early date to contribute to dealing with bad debts and promoting production, thoroughly solve inventory issues and remove obstacles for the property market, he said. 
The PM urged all sectors to actively implement the domestic market development programme, and enhance the efficiency of trade promotion activities, while further expanding export markets. 

He stressed the need to effectively and comprehensively implement social welfare policies, national target programmes on poverty reduction and employment, and solutions to vocational training and job creation. 

PM Dung insisted on building new-style rural areas, tackling hospital overcrowding as well as preventing flooding in the rainy season. 

He also emphasized the need to provide the public with transparent and objective information on the socio-economic situation. 

Regarding the country’s socio-economic performance in the first six months of this year, PM Dung praised the efforts of all ministries, sectors and localities for sparing no effort to fulfill their tasks in line with Resolution 01/NQ-CP and 02/NQ-CP as well as other Government and Prime Minister Resolutions, and thus bringing about positive changes in all fields. 

GDP growth in the January-June period hit 4.9 percent. The number of businesses resuming operations also increased from 8,300 in four months to about 9,300 in six months, PM Dung noted. In addition, around 722,500 jobs were created, equivalent to 98.3 percent of last year’s figure, fulfilling 45.2 percent of the set target. Political and social order and security were well maintained. 

However, cabinet members and localities’ leaders agreed that the economy is still facing many challenges. They proposed adjusting policies and mechanisms on a regular basis to keep pace with the reality.