Nhan Dan/VNA – The Vietnamese cabinet convened for its monthly meeting in Hanoi on October 26, focusing on the implementation so far of 2013 socio-economic development tasks and measures to achieve yearly targets.
Cabinet members praised encouraging achievements in socio-economic development over the past 10 months resulting from measures taken by the government.
They said the economy is on the track to recovery, with inflation under control, interest rates cut and industrial production picking up.
Policies on education, job creation and social welfare have been ensured, along with the maintenance of political security and social order.
The cabinet also pointed out shortcomings, such as slow economic recovery, sluggish growth in credit balance and an over-abundance of non-performing loans.
They suggested that more effective solutions should be pursued to ease difficulties facing producers and businesses, facilitating firms’ access to credit while focusing investment in production and other priority fields.
It was also argued that more attention should be paid to programmes on market development, trade and investment promotion, and to the simplification of procedures for exports at border gates.
Regarding banking operations, Governor of the State Bank of Vietnam Nguyen Van Binh assured the cabinet that every effort is being made to manage monetary policies dealing with bad debts while maintaining stable interest and exchange rates.
Ministries and localities were urged to focus on administrative reform, limiting inconvenience to people and businesses and creating optimal conditions for production.
Many cabinet members suggested tighter market management in the last months of the year to prevent inappropriate price hikes, cross-border smuggling and the production and trade of fake and low-quality commodities.
At the meeting, the cabinet focused on measures to prevent natural disasters and overcome their consequences.
Eight of the 11 tropical storms in the East Sea this year struck Vietnam, causing losses of life and property. A total of 211 people were reported dead or missing this year. Total losses were estimated at over VND21 trillion (US$987 million).
To help overcome the aftermath, the Prime Minister decided to provide seedlings and breeding animals to disaster-hit localities, along with 1,600 tonnes of rice.
Localities should route money into work for natural calamity prevention, including improved forecast capacity.
In the meantime, work must be finished on the rebuilding and repair of transport networks, infirmaries, schools and agency offices.
Concluding the meeting, Prime Minister Nguyen Tan Dung stressed the importance of achieving a growth rate of 5.4% this year, saying that this will create a basis for a higher growth in 2014 and the following years.
He ordered the Ministry of Finance and localities to pay attention to budget collection and spending, ensuring a balanced budget.
Furthermore, he urged relevant ministries and agencies to fulfill the final two UN Millennium Development Goals – ensuring clean water and fighting HIV/AIDS – by 2015.
Ministries, agencies and localities were asked to increase the flow of timely and accurate information given to the media in order to create a social consensus and successfully implement the set targets and tasks.