Market and product

(VEN) - Minister, Chief of the Government Office Nguyen Xuan Phuc chaired a press conference on March 2 to make public the contents of a government regular meeting held this February.

Nguyen Xuan Phuc said that Prime Minister Nguyen Tan Dung and government members reviewed the economy and society in Vietnam this February and in the first two months of this year. They recognized that the economy/society continued to develop in these months. Ministries, sectors, provinces and cities nationwide seriously followed Government Resolution 02/NQ-CP dated January 9, 2011 and made good preparations for Tet (Lunar New Year holiday) in February.

Industrial production in February grew a high 17.7 percent from a year ago. It increased 14.6 percent in the first two months of this year.

Exports were more than US$12.3 billion in these months, a 40.3 percent increase from the same months last year and four times more than what was projected by the National Assembly.

Import purchases came to about US$14.2 billion during this time, a 26.8 percent increase when compared with the same months last year.

Agriculture was also good, with more than 2,580ha of rice by the middle of this February representing 94.1 percent of what was in the same time last year.

Tourism soared in terms of foreign visitors, retail and service revenue.

Goods retail and consumer service revenue exceeded VND304.3 trillion in these months, a 23.7 percent increase from the same time last year.

However, government members said that the Vietnamese economy faced several challenges in these months, which were associated with high increases in the price of food/energy, inflation in the region, particularly that in China, natural disasters, epidemics and more, which pushed domestic prices way up and challenged the macro economy.

In this situation, the government put in place Resolution 11/NQ-CP, regarding tough steps to curb inflation, stabilize the macro economy and ensure social security. At this time, ministries, economic sectors, provinces and cities are taking steps to make the goal happen.

Nguyen Tan Dung required ministries, sectors, provinces and cities to closely follow the fiscal tightening policy with major measures like reducing excessive expenses, saving public spending and increasing budget revenue. In addition, it is important to apply a cautious money policy, control the exchange rate and prevent dollarization and gold-based transactions.

Nguyen Tan Dung also asked related authorities to closely watch production, trade and market prices, prevent speculation of goods, boost administrative reform, better solve complaints/denouncement, and ensure social security and national defense.

Concurrently, it is necessary to continue support poor families and apply the policy on gasoline and oil following the market-based mechanism.

Nguyen Tan Dung also required ministries, sectors, provinces and cities to enhance linkages/contact and make people better understand current policies. Particularly, government members and sectoral/local leaders need to provide more information for media, regarding government action programs/plans, in order for people to understand and follow government directions./.