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PM urges action to hit development objectives

PM urges action to hit development objectives

Thursday 27, 08 2020
Viet Nam News HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has urged ministers, particularly newly-appointed ones, to prepare action plans that improve their management to fulfill socio-economic development targets.

PM urges action to hit development objectives

Viet Nam News HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has urged ministers, particularly newly-appointed ones, to prepare action plans that improve their management to fulfill socio-economic development targets.

He told Cabinet members at a meeting yesterday that the Government would not adjust socio-economic development targets due to challenges over past months but will strive to overcome these difficulties to meet the economic growth rate targeted in the Resolution of the 12th National Party Congress.

Initially, it will be necessary to speed up disbursement of all sources of capital for fundamental construction projects, particularly projects using capital mobilised from Government bonds and Official Development Assistance, he said.

The Government leader also asked relevant ministries to enhance co-ordination between monetary and fiscal policies to prevent inflation rises and to hit State budget collection quotas. It would also be important not to increase the public debt ceiling.

He decided to launch a special task force, headed by Deputy Prime Minister Vương Đình Huệ, to review and report to the PM on difficulties hindering the disbursement of capital sources.

The Government will mobilise all resources, including foreign currency from local people, to serve economic development, he said.

He also instructed relevant ministries, agencies and localities to speed up the equitisation of State-owned enterprises, and only keep State-owned enterprises that operate in key areas.

They were required to take measures to ensure GDP growth quantity and quality while ensuring stable living conditions for people, particularly those in natural disaster-hit localities and areas affected by mass fish deaths.

At the meeting, the Ministry of Planning and Investment reported that the consumer price index (CPI) increased 1.88 per cent in the past five years. This was attributed to price hikes of oil, gas and food. The CPI from now to the end of the year is expected to suffer from surges in education and medical fees.

Total State budget collection reached only 34 per cent of targets in the period.

Industrial production recovered slowly over the past five months. Total exports gained nearly US$68 billion, a year-on-year increase of nearly 7 per cent. — VNS

Read more: Prime Minister welcomes US businesses

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Financial News

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