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Production, trade results up in 2010
The Government reviewed this year's socio-economic development and overall management, and began putting together next year's work schedule on Dec. 29.
Speaking at a regular monthly meeting chaired by Prime Minister Nguyen Tan Dung, cabinet members agreed that industries had achieved encouraging production and trade results given the global economic slowdown and the effects of natural disasters.
Participants were told that the country had achieved higher economic growth than last year. Macro-economic stability had also improved, along with growth quality, stemming from renewed high inflation.
This in turn would increase the Government's ability to fulfil social welfare targets.
The country's GDP had increased 6.7 per cent this year. All industries had achieved higher growth than last year. Agriculture, forestry and fisheries products saw 2.7 per cent growth while industry and construction had a rise of 7.7 per cent and services experienced 7.5 per cent growth.
The hospitality industry hosted 5 million foreign tourists in 2010 and exports amounted to more than US$71.6 billion, a 25.5-per-cent rise on last year's figure.
Over 140,000 jobs were generated this year and the country saw a reduction of 9.45 per cent in the number of poor households.
Yet cabinet members agreed that the economy was still facing many challenges, especially as world prices had increased strongly, putting pressure on the domestic consumer price index (CPI).
This year's CPI reached 11.75 per cent, making it difficult to curb inflation.
Cabinet members stressed that the world economic situation would remain complicated for some time to come. They suggested the Government strengthen its financial guidance and management to stabilise the macro-economy, prices and the market.
Other areas that needed to be addressed were a speed up in production and trade, ensuring social welfare, creating a flexible monetary policy and dealing with the aftermath of recent flooding in the country's central region.
Cabinet members also asked the Government to increase investment in agriculture, pay due attention to vocational training and job creation and focus on healthcare.
Discussing future tasks, Dung instructed ministries and industries to fully commit to implementing approved measures to achieve an economic growth rate of more than 7 per cent in 2011.
The Prime Minister emphasised that macro-economic stability and the control of inflation were vital if this target was to be reached.
He called on the State Bank of Viet Nam to readjust the management of monetary policies with a view to keeping in place all payment methods and credit growth. He also stated that he wanted to see an end of illegal trade and speculation in gold and foreign currencies.
Dung asked ministries and industries to strengthen fund disbursement inspection and promote efficiency in the use of development investment capital while ensuring that projects be brought into operation on schedule.
He said administrative reform needed continued efforts as did the fight against corruption.
Dung asked cabinet members to take initiative in providing information and entering into dialogue with the press to make people understand the Government's policies and gain their support for socio-economic development.
The Prime Minister also requested that ministries and industries improve their forecasting ability. This would allow them to proactively identify and solve problems. He said due attention should be given to forming regulations for areas where the State management of land management, mineral resources and State-owned enterprises remained weak.
He asked cabinet members to seriously review unmet targets, particularly those relevant to environment and high prices. They then needed to analyse reasons to ensure relevant lessons were learnt for the future.
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