Prime Minister Nguyen Tan Dung on January 22 held a working session with consultative experts on measures to effectively implement the 2014 socio-economic development plan and State budget estimates.

The consultants said they agree with the Government’s consistent policy of strengthening macroeconomic stability, controlling inflation and facilitating production and business activities while boosting growth. They also threw their collective weight behind the desperate need for swift economic restructuring.

They suggested bringing the Government’s plans to life with a clear division of tasks and responsibilities between ministries, agencies and localities and a more frequent update on the outcomes of the measures.

Based on analysis on the domestic and international situation, experts recommended that the Government, in addition to focusing on short-term policies to solve impending challenges, study and issue middle and long-term polices. They argued that particular attention should be directed to macroeconomic stabilisation and bad debts, as well as the foreign exchange and interest rates.

It is essential for the Government to drastically follow through on promises of administrative reform and review and complete legal documents allowing the best use of opportunities from the free trade agreements that Vietnam has signed and is about to sign, they said.

Some economists said that agricultural and rural development needs a better long-term strategy, aiming to gradually increase production scales and step up the scientific and technological application and investment in infrastructure construction in parallel with market development and promotion of processing industry.

Speaking at the session, PM Dung spoke highly of the experts’ responsible suggestions, saying that they will help improve the efficiency and effectiveness of the Government’s management.
This year, the Government is determined to engineer big changes in price management and equitisation of State-owned enterprises, he said, adding that it will directly support poor people and policy beneficiaries.

The Government is speeding up negotiations on free trade agreements with partners in order to expand export markets and create momentum for domestic reforms, he noted.-VNA