Prime Minister Nguyen Tan Dung has instructed ministries, agencies and localities to ensure capital is invested effectively in key areas and projects, avoiding undirected investment with potential wastefulness and losses.

The Government leader made the request in Hanoi on July 4 while attending the planning and investment sector’s meeting on building the socio-economic development plan for 2013 and the State budget investment plan for the 2013-2015 period.

PM Dung urged for more drastic measures to renovate the management mechanisms of national target programmes on public investment, while stressing the need to mobilise all different sources for social investment besides capital from State budgets.

According to Dung, 2013 will be an important transitional year for fulfilling the targets set in the 2011-2015 five-year socio-economic development plan, creating a momentum for the successful implementation of the goals of the 2011-2020 ten-year socio-economic development strategy.

He stated that in 2013, the country will continue to carry out synchronous and effective measures to stabilise the macro economy and curb inflation.

“Stabilising the macro economy and controlling inflation is a basic objective, so the ministries, agencies and localities must always strengthen measures to achieve this goal,” he noted.

The country should maintain its economic growth at an appropriate rate of about 6-6.5 percent, keep inflation at 5-6 percent and reduce State budget overspending to 4.7 percent, he added.

To reach these goals, the PM emphasised the need to implement a tightened monetary policy and flexibly use the tools of the monetary policy to curb inflation at the targeted rate, helping stabilise the macro economy and ensure sustainable development.

According to the Ministry of Planning and Investment (MPI), the overall objective of the 2013 socio-economic development plan is to improve the quality of growth in combination with economic restructuring, continuing to stabilise the macro economy and ensuring sustainable economic development as well as social welfare.

The ministry stressed that the building of the 2013-2015 investment plans should take into consideration how to contribute to realising socio-economic development objectives and orientations in the 2011-2015 period, together with restructuring the economy and building a synchronous supporting infrastructure.

Investment from the State budget should only focus on projects in progress in order to ensure that these works are completed on schedule and operate effectively.

In September this year, the MPI will report to the Government the 2013 socio-economic development plan for ‘fine-tuning’ before submitting it to the National Assembly.-VNA