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Prime Minister Nguyen Tan Dung urged for concerted efforts to control inflation and trade deficits at a regular Governmental meeting on January 30.
Cabinet members shared a view that the national economy recorded high growth rates in January with industrial production up by 18.2% year on year while foreign direct investments hit US $1.65 billion, a five-fold increase.
They acknowledged that consumer price index rose by 2.38% over December of 2007, affecting citizens’ life.
They also raised concerns over epidemic spread, food safety problems and increasing traffic accidents.
PM Dung criticized unscientific monetary policies as a key factor to the price hike along with objective causes such as world price chaos, natural calamities and epidemics.
He entrusted the Minister of Finance to work with other ministers in supervising and handling the macro economy developments and report emerging problems to the Government for necessary adjustments.
“In regard to stock markets and licensing new banks, responsible agencies should take firm measures and be sure of tight control while opening these markets so as to avoid any collapse,” emphasised the Prime Minister.
He also called on cabinet members to focus on imports-exports and infrastructure construction right in the beginning of the year in an effort to overcome the delay in capital disbursements, especially funding that comes from Government bonds for traffic, irrigation and grassroots healthcare projects.
“Greater efforts should be made to speed up administrative reforms in favour of businesses and to fight against corruptions in an effective way,” PM Dung concluded.
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