Vietnam Prime Minister Nguyen Tan Dung chaired a meeting on August 12 to demand relevant ministries to take flexible measures to curb CPI growth to rein inflation below the country’s set GDP growth rate, the government’s website said.
“Relevant ministries and sectors must actively take flexible measures to curb rising CPI, keeping it below the GDP growth rate,” PM Dung reiterated at the meeting.
The Ministry of Industry and Trade should adopt synchronized solutions to ensure adequate power for domestic production and daily lives, attract more capital for power generation sources development, boost exports and tighten the control over contrabands and prices.
The Ministries of Finance, Construction and Transport must cooperate in clearing any administrative procedures impeding capital disbursements for fundamental construction works, properly reducing import duties and cutting petroleum products when prices of those products on the world market are down.
The Ministry of Planning and Investment needs to set up taskforces to help localities nationwide to attract more foreign investments.
Ministry of Health is asked to take steps to stabilize prices of medicines and remove speculation and monopoly.
Notably, State Bank of Vietnam, the central bank led by newly-appointed governor Nguyen Van Giau must adopt appropriate monetary polices to regulate amount of money in the circulation, stabilize the cross rates.
In the Jan-Jul, SBV pumped about VND112 trillion to absorb about US$7 billion in a move needed to curb inflation.
Ministry of Agriculture and Rural Development is asked to boost rice output of summer-autumn and winter-spring crops, husbandry, stop widespread of bird flu, food-and-mouth and infectious disease among pigs.
Concerted efforts must be made among relevant ministries to balance supply and demand of goods on the domestic market to stabilize prices of petroleum products and coals and other input materials.
The government leader also agreed to reduce VND500 per liter of gasoline at soonest, possibly today Monday Aug 13 after turning down the proposal on tax rise on the distillated fuel from the 0 per cent to 5 per cent, Vnexpress said. Currently, the petrol price is sold at VND11,400-12,000 a liter, depending on the octane grade.
CPI soared 6.19 per cent in the Jan-Jul compared with that in December of last year while the country’s GDP grew nearly 8 per cent.
Previously, Vietnam lowered prices of a series of commodities, including reducing prices of construction steel by VND20,000-50,000/ton, 22 pharmaceuticals by 0.5-22 per cent, finished cars including BMW, Huyndai by US$1,500-3,000.
Vietnam is set to maintain the set GDP growth rate of 8.5 per cent this year. (Government’s website, local sources)
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