Deputies at the ongoing 9th session of the 12th National Assembly on Mar. 26 discussed a supplement report on the implementation of socio-economic development and state budget plans in 2010 and in the first months of this year.
The discussion, chaired by NA Vice Chairman Nguyen Duc Kien, focused on targets and measures to boost socio-economic development and the Government’s Resolution 11 on curbing inflation and stabilising the macro economy.
State Bank Governor Nguyen Van Giau said that Resolution 11 requires State Bank of Vietnam to tighten monetary policies and curb the 2011 credit growth at percent or less.
On the foreign exchange market, the Governor cited opinions as saying that as the black market was put under control, the service now fails to meet the people’s reasonable demand for foreign currencies.
He said, however, that the banking system has been expanded to serve the people in selling and buying foreign currencies. In Hanoi , there are 1,689 points run by credit organisations and 44 foreign exchange agents. In Ho Chi Minh City , there are 1,329 points and 59 agents.
As for gold trading, he said that there were proposals to promulgate a decree on gold trading, with a roadmap for tightly managing gold bar trading.
However, Giau said Resolution 11 stipulates that Vietnam will move towards crossing off trading of gold bar in the black market. He affirmed that this roadmap will be built in an appropriate manner and in line with the situation in Vietnam .
Meanwhile, Finance Minister Vu Van Ninh stressed that up-coming measures must ensure the balance of demand and supply, rearrange the distribution system and manage prices in accordance with the market.
On petrol prices, the Minister said that it was necessary to follow the Government directions in its Resolution 84 and the market, adding that the world prices will adjust retail prices.
He also stressed that it is necessary to ensure social welfare for people, especially workers, the poor and low income earners while regulating petrol prices.
The Minister asked localities and ministries to coordinate in boosting production, trade and distribution, fighting fake and low quality products and controling prices./.
The discussion, chaired by NA Vice Chairman Nguyen Duc Kien, focused on targets and measures to boost socio-economic development and the Government’s Resolution 11 on curbing inflation and stabilising the macro economy.
State Bank Governor Nguyen Van Giau said that Resolution 11 requires State Bank of Vietnam to tighten monetary policies and curb the 2011 credit growth at percent or less.
On the foreign exchange market, the Governor cited opinions as saying that as the black market was put under control, the service now fails to meet the people’s reasonable demand for foreign currencies.
He said, however, that the banking system has been expanded to serve the people in selling and buying foreign currencies. In Hanoi , there are 1,689 points run by credit organisations and 44 foreign exchange agents. In Ho Chi Minh City , there are 1,329 points and 59 agents.
As for gold trading, he said that there were proposals to promulgate a decree on gold trading, with a roadmap for tightly managing gold bar trading.
However, Giau said Resolution 11 stipulates that Vietnam will move towards crossing off trading of gold bar in the black market. He affirmed that this roadmap will be built in an appropriate manner and in line with the situation in Vietnam .
Meanwhile, Finance Minister Vu Van Ninh stressed that up-coming measures must ensure the balance of demand and supply, rearrange the distribution system and manage prices in accordance with the market.
On petrol prices, the Minister said that it was necessary to follow the Government directions in its Resolution 84 and the market, adding that the world prices will adjust retail prices.
He also stressed that it is necessary to ensure social welfare for people, especially workers, the poor and low income earners while regulating petrol prices.
The Minister asked localities and ministries to coordinate in boosting production, trade and distribution, fighting fake and low quality products and controling prices./.
