Prime Minister Nguyen Tan Dung has demanded ministries and departments to tighten management on market of gold and foreign exchange. Illegal trading of US dollar must be in control but adequate supply of foreign currency for citizens has to be ensured.
Chaired by P.M Nguyen Tan Dung, the meeting of the Government on March 15th reported progress of implementing Resolution 11/NQ-CP on solutions to curb inflation, stabilize macro-economy and ensure social security.
Ministries, departments and localities drastically joining hands
The Government and attendants had a common judgment, grasped thoroughly Resolution 11/NQ-CP dated February 24th 2011 requesting ministries, departments and localities to pay attention to and actively build up an action plan and drastically, comprehensively implement positive measures.
Deposit rate has not seen much fluctuation against late January 2011 and that in VN Dong on average stays at 13.04 percent per year. Money rate increases by 0.5 to one percent against late January 2011 and that in VN dong on average stays at 16.23 percent per year.
Deposit rate in US dollar comparatively remains stable against January 2011, currently staying on average at 4.2 percent per year while that of money rate in US dollar is 6.37 percent per year.
AS for import and export, in first quarter of 2011, total export turnover is estimated at US $ 18.8 billion, increasing by 29.7 percent year on year and being equal to three folders higher than target passed by the Assembly. Total import turnover is US $ 21.8 billion, increasing by 23.9 percent year on year. Price index in March is expected to increase by 1.8 to 2.2 percent against last month.
First quarter in 2011 continue to see growth of national economy but with slower speed year on year and than that in the 4th quarter of 2010. GDP growth rate in 1st quarter is estimated at 5.4 to 5.6 percent.
Services continue to develop strongly, life of residents, especially of the poor, the single older, the disabled and those with huge contributions etc are paid attention to. Social security maintains ensured, political and social safety is under control.
However, besides achievements, there are many challenges in first quarter of 2011 such as unstable status of macro economy, high credit interest rate and fluctuation in prices etc having influence on production and life.
Exchange rates and gold prices gradually stable
According to opinions of Assembly’s members, after State Bank unveiled methods on interest rate, exchange rates, gold trading, in the market, exchange rate and gold price tend to be more stable, even sometimes decrease than previously.
Seeing positive impacts of Resolution 11 on the economy, permanent Deputy PM Nguyen Sinh Hung said the communication on resolution should be implemented deeper and more widely in order to gain social agreement and solidarity.
“Communication on exchange rate policy, gold market not only stabilize market but also ease people’s mind”, said Deputy PM Nguyen Sinh Hung.
Said Government’s members, Departments, Ministries and localities should quickly issue and efficiently implement action plan, in details, put Resolution 11 in practice, actively handle issues arisen , timely report, propose Prime Minister, Government and above authority to consider, handle and solve etc.
Implementing Resolution 11 with specific plans
At the end of the meeting, PM Nguyen Tan Dung showed his appreciation for positive attitude, seriousness and quick of Ministries, departments, localities when implementing Resolution 11. PM asked them to continue to work well on communicating, implementing Governmental Resolution 11 with specific plans.
Firstly, drastically implement money policy tightly and cautiously; avoid phenomenon of making all transactions in dollar, gold in the economy. Tightly keep control on gold and foreign currency market. Keep eyes and punish strictly illegal gold trading.
At the same time, ensure adequate supply of foreign currency for residents and enterprises with reasonable demand; for import of necessities. Absolutely observe agenda of eliminating gold bar trading in free market.
Secondly, foster export; reduce import exceeding export, Ministry of Industry and Trade need coordinate with ministries, local authorities to drastically implement this task, especially in the context of high increasing price of food and foodstuff, need take full advantage to develop agriculture and bring practical benefits to farmers.
Thirdly, fiercely instruct to reduce public expenditures, stop unnecessary expenses; demand to save electricity such as that electricity for advertisement etc.
Fourthly, instruct to keep control on prices, form multi-industry investigation board to control price, foreign currency trading, gold market, avoid speculation and lack of goods especially necessities.
Try to ensure social security even in the context of difficulties, Ministry of Labor-Invalid and Social Affairs is required to well conduct this task.
One more instruction stressed by PM is Ministries, Departments and Localities pay attention to communication, information, in which focus on communication on media means about financial – money policies, exchange rate, gold market etc so that residents understand, avoiding distraction and deduction etc. (VGP)
Vietnamese
