The government discussed the socio-economic development throughout the year as well as a plan for implementation of its key tasks in 2009 at a regular meeting held in Ho Chi Minh City from Dec. 23-24.
Cabinet members at the meeting, under the chairmanship of Prime Minister Nguyen Tan Dung, agreed that the government’s drastic measures have proven to be effective in curbing inflation, preventing the economic slowdown and ensuring the macro economic stability and social security,
in the context of the world complex situation and domestic difficulties such as natural disasters and epidemics.
As a result, the country obtained a GDP growth of 6.23 percent, with agricultural-forestry-fishery production increasing 5.6 percent, industrial production up 14.6 percent, the export value reaching 83 billion USD and more than 10 billion USD of foreign investment implemented.
However, the cabinet expressed concerns at the slowdown in economic growth towards the end of the year due to the global financial crisis and economic recession.
They also pointed to a spiralling consumer price index at more than 20 percent for the year causing difficulty to the people’s life, high trade deficit and lower-than-expected results in administrative reform and thrift practice.
High on the meeting’s agenda was sources of capital for investment in 2009. The total investment in 2009 is estimated at 300 trillion VND (17 billion USD), including more than 155 trillion VND from development investment, a 50 percent increase over 2008, a 17 trillion VND demand stipulation package and 10 trillion VND to be raised from bond issue.
Cabinet members proposed paying attention to statistical work, market research and trade promotion. They also suggested that priority be given to small- and medium-sized enterprises, particularly labour-intensive firms, and businesses invest in rural infrastructure construction, when spending the demand stimulation package.
Regarding the 2009 tasks, PM Dung urged cabinet members to focus on the task of preventing economic slowdown to maintain the GDP growth rate of 6.5 percent and ensure social security.
He required ministries, sectors and localities to continue to implement the five measures of the government focusing on resolving difficulties for production, promoting investment in effective projects, ensuring social security and alleviating poverty.
The PM asked cabinet member members to work hard to improve their forecast capacity and the legal environment for development investment and promote cooperation among ministries.
He also asked the ministers to take the initiative in providing information for the press.
At the meeting, the government heard the draft law on amendment and supplement to a number of articles of the Law on Intellectual Property; the draft law on radio frequency and the draft law on amendment and supplement to a number of the Inspection Law.
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