PM asks for greater efforts to promote sustainable growth

Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has asked for stronger efforts from sectors to promote macroeconomic stability and control inflation towards fostering sustainable and comprehensive economic growth.

Speaking at the regular monthly government meeting in Hanoi on March 1, the PM pointed out several difficulties, including the slow disbursement of public investment capital and increased trade deficit, saying that business development and economic growth has not met the set targets.

He requested the Ministry of Planning and Investment (MPI) to work with prestigious organisations to assess, verify and announce the GDP figures for the country’s informal economic area in an objective and scientific manner using relevant data.

It is necessary to focus on measures to promote growth, he said, asking ministries and sectors to seek methods and specific actions to overcome the shortcomings of the market economy.

In the face of challenges to the agriculture sector, the PM directed the Ministry of Agriculture and Rural Development (MARD) to coordinate with localities to speed up agricultural, forestry and fishery production.

He agreed to a number of measures from ministries and sectors to directly deal with outbreaks of African swine fever (ASF)  and foot-and-mouth disease (FMD), aiming to prevent further spreading.

PM Phuc stressed the need to strictly monitor gateways and trails, and give price support to farmers.

A national campaign to raise public awareness of ASF prevention must be launched to stop the disease, he said.

He also directed the MARD to coordinate with the Ministry of Finance to buy rice for temporary storage in order to ensure beneficial prices for farmers.

During the meeting, the PM asked the Government Inspectorate to supervise and speed up the implementation of inspections related to the Vietnam Feature Film Studio, Quy Nhon port, Thai Thai Nguyen Iron and Steel JSC, and Thu Thiem urban area.

The Ministry of Transport was required to report regularly on the implementation of the My Thuan-Can Tho expressway project to the PM.

PM Phuc asked the State Bank to work out measures to expand credit and reduce interest rates for priority fields towards creating momentum for growth.

The PM also directed the MPI to make the most of opportunities brought by the hosting of the second DPRK-USA Summit to roll out specific plans for attracting foreign investment, especially multinational corporations specialising in the high-tech field.–VNA