Last updated: Friday, June 14, 2013
Upholding Stable, Sustainable Economic DevelopmentPosted: Friday, June 29, 2012
Prime Minister Nguyen Tan Dung has signed the Directive 19/CP/TTg, requesting ministries, localities, State-owned economic groups and corporations to focus on building socioeconomic development plans and budgetary estimations in 2013 and budget-funded investment plans from 2013 to 2015.
According to the directive, the overall objectives in 2013 are to improve growth quality associated with economic restructuring and continued macroeconomic stability, ensure sustainable economic development to create momentums for the successful implementation of the five-year socioeconomic development plan from 2011 to 2015.
In 2013, economic development missions will concentrate on applying policy measures, first of all monetary, credit, tax and land, reforming administrative procedures to please businesses and investors, and accelerating growth. Vietnam strives for GDP growth of 6 - 6.5 percent next year.
In addition to stepping up social and economic development in 2013, Vietnam will also quicken economic restructuring, with immediate focus given to investment are restructuring, financial market restructuring and business restructuring to make powerful changes and improve quality, efficiency and competitiveness of the economy; and enhance the effective mobilisation and use of investment capital.
Also according to the Prime Minister’s directive, in 2013, the country will speed up the development of competitive industrial products; develop supporting, processing and manufacturing industries, renewable energy, electronics industry, biological industry and environmental industry; apply solutions to support and encourage the development of agriculture, forestry, fishery and countryside in association with the development of agricultural, forest and aquatic product processing industries.
The country will intensely develop potential and competitive services rich in added value, scientific and technological content.
The Prime Minister also requested ministries and competent agencies to centre on key tasks like applying flexible, prudent monetary policy to maintain macroeconomic stability, effectively support production and business activities, restore growth, curb inflation and stabilise the currency value. Suitable mechanisms will be created to access capital sources and boost credit growth at reasonable rate. He also urged to strengthen the management of banking system, foreign exchange market and gold market and continue restructuring commercial banks and other financial institutions.
The country will consistently apply market-based pricing mechanism, regulated by the State, to electricity, coal, petroleum and public utilities to contain inflation, maintain macroeconomic stability and reasonable growth, and ensure transparency of State-ruled pricing to build a public consensus.
The directive also requires relevant agencies to build specific plans and budget estimations for 2013, based on the principle of economy and wastefulness prevention.