VietnameseResolution No. 58/NQ-CP dated December 05, 2009 of the Government about the Government's Regular Meeting - November 2009
ATTRIBUTE
Resolution No. 58/NQ-CP dated December 05, 2009 of the Government about the Government's Regular Meeting - November 2009
| Issuing body: | Government | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 58/NQ-CP | Signer: | Nguyen Tan Dung |
| Type: | Resolution | Expiry date: | Updating |
| Issuing date: | 05/12/2009 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Administration |
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GOVERNMENT ------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom – Happiness --------- |
No. 58//NQ-CP | Hanoi, December 05, 2009 |
RESOLUTION
THE GOVERNMENT'S REGULAR MEETING - NOVEMBER 2009
On December 1, 2009, the Government convened its regular meeting of November to discuss and decide the following issues:
The Government discussed and agreed with the reports on socio-economic situation in the first 11 months of 2009, domestic and global economic predictions in the coming time; solutions for economic development and macro-economic stability; inspection and settlement of accusations, complaints and anti-corruption in November; administrative reforms in November; drafting and issuance of legal documents guiding the implementation of laws and ordinances; realization of the Government’s October resolution and the Government’s November working program. These reports were presented by the Ministers of Planning and Investment, Industry and Trade, Home Affairs, the Governor of the State Bank of Việt Nam, the Chief Inspector, and the Minister-Chairman of the Office of the Government.
The Government agreed that the domestic economy in November and the first 11 months of 2009 was on a recovery trend with positive signs: Industrial value in November surged; production of agro-forestry and fisheries sector was on the rise; the service sector and the domestic markets rehabilitated dramatically; the total amount of retail sales and revenue of goods and services reached a record high since the beginning of the year; the macro-economic balance was secured; collection and spending of the State budget were higher than expected; investment was and capital disbursement were sped up; activities of export, import and tourism rebounded; fluctuations in the monetary and credit markets were put under control; consumer price index (CPI) increase was reasonably reined in; positive results were gained in the areas of labor, employment, poverty reduction, healthcare, food hygiene, culture and sports; administrative reforms, especially administrative procedures simplification, settlements of complaints and accusations, anti-corruption, saw progresses; socio-political stability, social order and national security-defense were maintained; responding activities to natural disasters were implemented timely and effectively. These achievements have created the foundation for the Government to strive for an economic growth rate of 6.8% in Q4 in order to meet the year economic targets set by the National Assembly (NA).
However, the national economy still faces numerous challenges, including slow recovery in investment attraction, export, and tourism; unstable factors seen in macro-economic balance; bigger pressure on CPIs due to rising interest rates, exchange rates, and credit growth; and the unstable stock market.
The Government requires all ministries, sectors and agencies, in December and the coming time, to realize Resolution 30/2008/NQ-CP dated December 11, 2008 in order to meet the set targets for socio-economic development in 2009; spur rapid and solid economic recovery in 2010; stabilize macro-economy; prevent the reoccurrence of inflation. In addition, the Government also proposes the following solutions:
- Taking drastic measures to accelerate the disbursement of investment capital allocated from the State budget and governmental bonds; and mobilize FDI and non-State capital sources for investment development;
- The Ministry of Agriculture and Rural Development (MARD) will keep track of the realities of climate and epidemics that can affect agricultural production in order to have timely responses, protect crops and domestic animals from cold weather, and ensure a fruitful winter-spring crop;
- The Ministry of Industry and Trade (MIT), in collaboration with relevant ministries, sectors, and localities, will boost up trade promotion activities in order to make full use of the domestic market and expand export. MIT will work with Ministry of Finance (MOF) and MARD to issue necessary regulations and take tax measures in line with the national laws and Việt Nam’s international commitments to strengthen management, reduce luxury and inessential imports, and narrow trade gap. Those ministries have to ensure the supply of goods for domestic consumption during the traditional Tet festival; tighten their control over market and price to avoid speculation and unreasonable price escalation; and continue the “Buy Việt Nam” campaign. MIT worked with MARD to keep a close watch on prices in the international rice market and propose timely solutions for the management of food market to guarantee national food security and stabilize food prices.
- The State Bank of Việt Nam (SBV) and MIT, within their competence and in collaboration with other relevant agencies, will report to the Prime Minister for consideration and decision on the ways to provide, since January 1, 2010 on, interest rate subsidies to medium and long-term loans, as stipulated in Decision 443/QĐ-TTg dated on April 4, 2009, and to other loans for the purchase of machines and equipment, input materials for agricultural production, and building materials for rural housing as stated in Decision 497/QĐ-TTg dated April 17, 2009. The interest rate subsidies for floating capital loan will be offered under Decision 131/QĐ-TTg dated January 23, 2009.
- SBV has to regulate policies on monetary, exchange rates and interest rates in an active, flexible and cautious manner with a view to encouraging export, curbing trade gap, managing the total means of payment and credit debt growth in line with the requirements for economic development, so as to recover the growth impetus, maintain macro-economic stability and prevent the recurrence of inflation. SBV will work with other ministries and agencies to control the domestic gold and foreign currency markets in order to secure their stability and healthiness; prevent and strictly punish illegal gold and foreign currency trading activities which can cause instability and do harm to the economy. Once receiving incomes in foreign currencies, State-owned enterprises (SOEs) have to sell them to commercial banks. SBV will be responsible for instructing commercial banks to meet SOEs’ demands for foreign currencies.
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