The Vietnamese government announced Tuesday prompt plans to maintain the set growth of 5 per cent this year during a two-day meeting amid the global turmoil, Vietnamese state media said on May 6.
Prime Minister Nguyen Tan Dung said the global economic slowdown is easing, but headwinds are still ahead with protectionism on the rise, so the government has agreed to extend fiscal spending to VND64 trillion (US$3.78 billion) for infrastructure development projects.
“All the ministries, sectors, provinces and cities must speed up disbursements of that fund for infrastructure projects, clear any hurdles of exports and production,” Mr Dung urgently urged.
Commercial banks are requested to boost medium and long-term loans to purchases of machinery and equipment with 4 per cent of interest rate subsidy in rural Vietnam, Mr Dung said.
The government is urging to quicken construction of power projects with a combined of 3,000 megawatts as part of stimulate industrial production, state media said.
The government will continue flexibly loosening monetary and fiscal policies, curb imports of consumer goods, maintain the set growth while curb state budget deficit to below 8 per cent of the country’s GDP, Mr Dung said.
The government plans to spend VND32 trillion to help train rural 12 million farmers across the country.
Mr Dung also urged to the Health Ministry to closely monitor A/H1N1 epidemics.
The government also reviewed results of the economy’s 2 years of WTO accession and will prepare a report on the issue to the Politburo.
The IMF and the ADB also revised Vietnam’s GDP growth to 4.5 per cent and 4.75 per cent, respectively, state media said. (chinhphu.vn, The People, Labor)
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