Deputy Prime Minister Vuong Dinh Hue required ministries, sectors and localities to control the consumer price index (CPI) between 3.3-3.9 percent in 2019 while chairing a conference of the National Steering Committee on Price Management in Hanoi on January 17.
Deputy Prime Minister Vuong Dinh Hue has said that clearing barriers to national infrastructure work and placing a focus on public investment allocation are important tasks for the Vietnamese economy in 2019.
The achievements Vietnam recorded in 2018 have given the country valuable lessons, creating a firm foundation for the country to develop, reform, and integrate further into the world, Party General Secretary and President Nguyen Phu Trong has said.
Hanoi will focus on developing industrial clusters as a measure to stimulate industrial production, as most local industrial parks have been filled, resulting in a growth slowdown in the industrial sector.
Vietnam is deemed highly likely to curb its inflation below 4 percent in 2019, experts said at a seminar in Hanoi on January 3, which focused on national market and price movements during 2018 and forecasts for 2019.
Deputy Prime Minister Vuong Dinh Hue announced a draft resolution of the Government on key tasks and solutions to achieve socio-economic development goals and State budget estimate for 2019 during a conference on December 28.
General Secretary of the Communist Party of Vietnam and President Nguyen Phu Trong acknowledged the country’s 2018 socio-economic development achievements but warned against self-satisfaction when attending the Government’s meeting with localities on December 28.
The CPI in December 2018 decreased from previous month, of which transportation saw the highest reduction.
2018 is considered a successful year in controlling inflation as the average consumer price index (CPI) rises by 3.54 percent from 2017 and 2.98 percent from last December, meeting the CPI growth target of under 4 percent.
GDP growth rate is likely to reach a decade high of 6.9 - 7 percent in 2018 and maintain the pace of 7 percent next year, according to the National Financial Supervision Committee (NFSC).
Work to be done in December needs to ensure socio-economic goals set for 2018 are accomplished or exceeded to create a springboard for the implementation of 2019 plan, said Prime Minister Nguyen Xuan Phuc.
Vietnam’s total revenue from retail sales and services has continued to grow strongly, reaching 4 quadrillion VND (172 billion USD) in the first 11 months of this year, a year-on-year increase of 11.5 percent, according to the Statistics Office of Vietnam.
November's CPI decreased by 0.29% month-on-month. Transportation experienced the sharpest reduction.
The consumer price index (CPI) of Hanoi saw a decrease of 0.26 percent in November against the previous month and down 4.17 percent year-on-year, announced the city’s Department of Statistics.
Deputy Prime Minister Vuong Dinh Hue has asked that electricity prices, which affect many sectors, be adjusted at appropriate points of time next year so as to keep inflation in 2019 at under 4 percent.
More commercial banks expect their credit growth limits to be expanded this year after Techcombank became the first to get the nod to do so from the State Bank of Vietnam (SBV) recently.
The outcomes of confidence votes prompt the government to work better and raise the sense of responsibility towards the people and the National Assembly, Prime Minister Nguyen Xuan Phuc said.
Experts have judged that the national export goal and trade deficit rate next year set by the Government was feasible.
