News Room - Business/Economics

Posted on 05 Mar 2009

Building the economy (Vietnam)

Prime Minister Nguyen Tan Dung has said that every minister, agency head and municipal and provincial People’s Committee chairman must maintain the highest sense of responsibility in carrying out the Government’s economic measures.

 

Speaking at the conclusion of the regular two-day monthly Government meeting yesterday, Dung ordered all ministries, sectors and local authorities to comply with Governmental Resolution No 30/2008/NQ-CP and 01/NQ-CP.

 

"Each minister, sector head and People’s Committee chairman must highlight their work responsibly and supply concrete guidance, along with close supervision, on the implementation of resolutions, programmes and projects at the grassroots level," Dung said.

 

Dung also urged officials to actively disseminate information about economic policies to the public and the media since the provision of correct and timely information would help society reach a consensus about the implementation of economic measures.

 

The Prime Minister said that all regular Government meetings would soon be held online in order to connect them with People’s Committee chairmen around the country.

 

Speaking about the social and economic situation, Dung said that the Government had effectively prevented a more serious economic downturn, solved production and business difficulties, maintained economic sustainability and ensured social welfare and security.

 

"Despite the difficult economic situation, we still ensured political and social stability, and thanks to broad consensus about Party and State policies, we had a warm, safe and fruitful Tet (lunar new year) celebration," Dung said.

 

The Government meeting reviewed a report from the Ministry of Planning and Investment which showed February’s industrial production totalled VND58.2 trillion (US$3.3 billion) and grew a higher level than in January, experiencing a 21.6 per cent increase and representing year-on-year growth of 14.9 per cent.

 

Figures from the first two months of the year showed production value of VND106.1 trillion ($6.1 billion), a 2.5 per cent increase over the same period last year.

 

February’s export value reached $4.3 billion, a 15.6 per cent increase over January. Meanwhile, the value of imports increased 32.2 per cent to $4.4 billion. The trade surplus in the first two months of the year reached $290 million, equivalent to 3.6 per cent of export turnover.

 

Also in the first two months of the year, $125 million in official development assistance funds was disbursed, $95 million in the form of loans.

 

The cabinet accepted the report and discussed issues related to the evaluation of the economic downturn, speaking in detail about Government measures for social and economic development.

 

There were also discussions about inspection and solving complaints and public outcry about corruption. Cabinet members also voiced opinions about administrative reform and on drafts of a number of proposed laws and resolutions.

 

Ministries’ responses

 

A press conference was also held yesterday to provide information about the regular meeting, chaired by Minister and Chairman of the Government Office Nguyen Xuan Phuc.

 

In response to reporter questions regarding implementation of the Government’s policy to provide support to poor people for their Tet (lunar new year) celebration, Minister Nguyen Xuan Phuc and Deputy Minister of Finance, Nguyen Cong Nghiep confirmed that the policy had been a success in most localities. Most of the poor throughout the country had been beneficiaries of the policy, they said.

 

However, wrongdoings had taken place in some localities. The Prime Minister instructed local authorities to evaluate the implementation and solve wrongdoing, if any, seriously and publicly, they said.

 

Deputy Minister of Industry and Trade Nguyen Thanh Bien said that people should not be worried about last month’s 5 per cent decrease in export value, since this was a common situation in other countries throughout the world and the region. Bien said his ministry was implementing measures to boost export activities including: enhancing trade promotion, expanding markets and pushing trade offices abroad to search for more markets.

 

Also at the press conference, Deputy Minister of Labour, Invalids and Social Affairs Bui Hong Linh denied claims that 2 million people in Viet Nam would lose their jobs this year, saying that it was false information. He said that all unemployed Vietnamese labourers, both at home and abroad, would receive support in accordance with Viet Nam’s law.