Prime Minister Nguyen Xuan Phuc urged the cabinet members to take drastic measures to attain the targeted growth rate of 6.7 percent this year at the Government’s February 2017 regular meeting held on March 1 in Hanoi.
Prime Minister Nguyen Xuan Phuc (middle) addresses the meeting__Photo: VNA
Chairing the meeting, the Prime Minister said although Vietnam’s economy has maintained good growth, no foreign organizations have forecast 6.7-percent growth rate for the country in 2017, showing the challenges facing the Government.
He noted the stable macroeconomy, USD 2.2 billion of foreign direct investment, an increase in the number of new businesses, and controlled inflation with consumer price index increase of 0.23 percent in February as positive signs.
However, the international situation remains volatile, with the resurgence of protectionism and the price hike of crude oil and basic materials both threats.
He asked Government members to assess the domestic and global situation to make appropriate moves to promote growth, macroeconomic stability and the economic competitiveness.
Solutions should be devised to address problems like low prices of farm produce in the domestic market and low labor productivity, especially in agriculture and rural areas.
Phuc told authorities at all levels to pay attention to material prices and US dollar interest rates to keep inflation below 4 percent this year, adding that ministries and sectors must coordinate closely with one another to achieve the set target.
During the meeting, the Government also discussed the draft revised laws on Public Debt Management and Fisheries and the draft law amending a number of articles of the Law on Denunciations, among others.- (VNS/VLLF)