Fighting Inflation Tops Agenda of Vietnam Business Forum
Curbing inflation is the Vietnamese government’s top task to ensure a favorable business environment for investors, said Minister of Planning and Investment Vo Hong Phuc at the Vietnam Business Forum in Hanoi on June 2, Vietnam News Agency reported on Tuesday.
Phuc said that despite continued growth, the Asean country’s economy had shown signs of instability in the past five months, which have largely impacted production, investment and operations of local and foreign businesses.
In his speech, Phuc noted that the government expects more constructive opinions and active cooperation from the business circles for its fight against inflation. Phuc pointed out trade deficit widened to US$14.4 billion in Jan-May.
The government has taken drastic measures to control inflation and adjust the socioeconomic development targets approved by lawmakers.
Meanwhile, the European Chamber of Commerce (EuroCham) Chairman Alain Cany said the Vietnamese government should continue tightening the monetary policy to curb inflation and trade deficit.
In addition, the forum focused on three bottlenecks such as shortage of qualified laborers, underdeveloped infrastructure system and bureaucracy in the country.
The issues mentioned at the forum will be discussed at the mid-term Donor Consultative Group meeting on June 5-6 in the northern province of Lao Cai’s Sapa town.
The meeting will see the participation of the World Bank, the International Finance Corporation, the Ministry of Planning and Investment and other delegates. (VNA)
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