Politics

PM asks for detailed development scenarios for realising growth target

PM Nguyen Xuan Phuc asked ministries and sectors to work together to build growth scenarios for each sector and field and report to him every quarter, towards realising the growth targets in 2017.
PM asks for detailed development scenarios for realising growth target ảnh 1Prime Minister Nguyen Xuan Phuc speaks at the meeting (Source: VNA)
Hanoi (VNA) - Prime MinisterNguyen Xuan Phuc has asked ministries and sectors to work together to build growthscenarios for each sector and field and report to him every quarter, towardsrealising the targets of a 6.7 percent growth and 4 percent inflation in 2017.

The PM made the instruction at February’sregular cabinet meeting in Hanoi on March 1.

According to a report from the Ministryof Planning and Investment, industrial production showed signs of decline asthe industrial production index increased only 2.4 percent in the first twomonths of this year, much lower than the 6.8 percent growth in the same periodlast year.  

The national retail value of goods and services rose 8.7 percent, also lower thanthe 9.3 percent rise one year ago.Budget collection fulfilled 11 percent of the target set for the year, droppingby 17.7 percent year on year.

The good news was that export turnover recorded a good yearly growth of 15percent, hitting 27 billion USD.
The number of newly-established enterprises increased by 3.9percent to around 14,500, with a total registered capital of 152 trillion VND (nearly6.69 billion USD). The number of tourists also registered a 33 percent growth.
February’s consumer price index (CPI) increased 0.69 percentcompared to December last year.

PM Phuc was of the view that the socio-economic growth pace is basicallypositive despite low increase or even reduction in some sectors or products.
He stressed the need to ensure stable macro-economy, curbinflation and maintain economic growth, calling for more drastic efforts to realiseset goals for the year.
The PM asked the State Bank to work with relevant ministriesand sectors to control inflation at 4 percent, ensure the liquidity of creditinstitutions, and support enterprises in accessing loans.

He also reminded the bank to early build an assistance package for high-techagriculture with a minimum capital of 100 trillion VND (4.4 billion USD), andpay more attention to the settlement of bad debt and restructuring ofinefficient commercial banks.

The Ministry of Finance was requested to keep public debt at a safe level, andprevent transfer pricing, whilst the Ministry of Industry and Trade was askedto roll out measures to stimulate the retail market, promote consumption andsolve difficulties for industrial sectors. -VNA


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#February’s regular cabinet meeting #growth target #detailed development scenarios
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