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Solutions for controlling inflation and stabilising the economy
The Government’s domestic market management group has proposed a number of solutions aimed at curbing the soaring inflation rate and stabilising the macro economy while ensuring social welfare and sustainable development.
A number of provincial and municipal leaders have been asked to set up monitoring groups to control the trading of essential goods and regularly report market situation to the Government so that they can deal with any trouble and ensure sufficient supplies of fuel and materials for production.
The Ministry of Agriculture and Rural Development (MARD) needs to work closely with local authorities to ensure the balance in food supply and demand for major cities and remote and mountainous areas.
Steel, fertilizer and cement businesses are working with the ministries and various sectors to study a Government report on the operations of goods distribution networks in the country.
The Ministry of Planning and Investment (MPI) has been asked to encourage craft associations to establish joint stock businesses involved in logistical services, to provide materials, fuel and other kinds of products. This will help reduce costs and increase production and business efficiency.
The Ministry of Finance needs to readjust the export tax rates on rice, fertiliser and food and ask the MARD and the Ministry of Science and Technology to issue regulations on the export of these products to ensure adequate supplies for domestic consumption.
The Ministry of Finance must subsidise petrol and oil as soon as possible and ask the State Bank of Vietnam (SBV) to increase the levels of capital that businesses can borrow so they can import essential goods to meet domestic demands.
VOV
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