PM Nguyen Xuan Phuc speaks at the session (Photo: VNA)

Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc said he is looking for the honest recommendations from experts on issues facing Vietnam’s monetary and financial policies, helping the Government come up with prompt actions.

He made the statement while attending a periodical session of the National Council for Financial and Monetary Policy Consultation in Hanoi on July 18.

Speaking at the session, the Government leader lauded economic growth for the first half of the year, which was at its highest in seven years, and considered the council a helpful source of information.

Affirming that the Government will not adjust its socio-economic goals set for 2018, he requested public agencies and sectors to step up their reform efforts to meet the targets.

Phuc asked experts from the council to provide forecasts on inflation trends for the mid- and long-term, as well as suggest solutions for Vietnam to fulfil its 2018 goals.

He told them to give their feedback on the completion of the country’s financial and trade policies, particularly on import-exports, balance of payments, and foreign investment amid the tensions that have escalated between the world’s top economies.

The PM said it is necessary for experts to make suggestions on exchange rate and interest policies, in a bid to control inflation, stabilise macroeconomy, and ensure the realisation of growth targets.

Measures to sustainably develop the real estate and stock markets and to drive growth and prepare for the Fourth Industrial Revolution are also needed, Phuc added.

He required experts to give advice on other aspects such as the management of macroeconomy, finance, currency, and trade and investment to assist the Government with greater options for future plans.

Opinions at the session showed that the promotion of the country’s inner strength and domestic market is key to Vietnam’s growth in the current context.

Participants said the work can be done by stabilising interest rates, growing healthy realty and stock markets, boosting reform, and improving the investment climate, among others.

Taking into consideration these opinions, the PM stressed the role of the council in the Government’s policy-making process to ensure the decided solutions meet reality.

He requested not to let unexpected and passive conditions taking place in the management of monetary policy, adding that the Government is ready to interfere in any field to ensure stable growth of the nation.

He asked the Government’s office, and relevant ministries and sectors to create favourable conditions for and work closely with members of the council. -VNA