All ministries, sectors and localities need to exert greater efforts to stablise the macro economy by controlling prices and combating speculation and price rigging, said Prime Minister Nguyen Tan Dung at a government regular meeting on August 3-4.

At the meeting, cabinet members discussed the socio-economic status in July and during the past seven months, the world’s economic situation, the Government’s activities in July, issues related to inspection, complaints and denunciations, anti-corruption, administrative reform and a report on the Vietnam Shipbuilding Industry Group (Vinashin).

Over the past seven months, targets of stabilising the macroeconomy and curbing inflation have been fulfilled and remarkable progress has been made in the mobilisation and disbursement of investment capital, agriculture, social welfare, administrative reform,  anti-corruption, foreign affairs and national security and defense.

During the seven-month period, investment capital from the State budget reached VND77,600 billion, equivalent to 62 percent of the yearly plan. Total export turnover hit US$ 38.8 billion, up 17.5 percent over the same period last year. Import surplus fell to US$ 7.4 billion, accounting for 19.45 percent of the country’s total export turnover.

Market prices and inflation were put under strict control and the consumer price index (CPI) in the first seven months rose 8.67 percent over the same period last years, except for a slight increase of 0.06 percent in July. The seven-month industrial production value soared 13.5 percent over a year earlier and exceeded the target set for this year.

PM Dung pointed out pending issues and difficulties facing the national economy, such as relatively high trade deficit, soaring prices of materials, lack of capital, high interest rates and natural disasters and epidemics.

Mr Dung asked cabinet members to direct other cabinet members devise effective measures for the economic-related targets set for 2010.

He also requested ministries, sectors and localities to intensify industrial-agricultural production and service, expand domestic and export markets, accelerate the disbursement of investment capital, prepare capital construction plans for the 2011-2015 period, be active in coping with natural disasters and epidemics and enhancing administrative reform.

The Government leaders underlined the need to ensure security for international conferences and major national celebrations such as the 1000^th anniversary of Thang Long-Hanoi and Party congresses at all levels in the lead-up to the 11^th National Party Congress.

Cabinet members touched upon issues related to Vinashinm and gave their opinions on a project for solutions and policies to increase the quality of growth, efficiency and competitiveness in the national economy as well as a project to develop Vietnam’s  

information and technology industry, and communication and other important draft laws.