Prime Minister: keeping social-economic development index as planned.

Prime Mininster Nguyen Than Dung speaking at the meeting (Source: Vietnam News Agency)

On 25/08 afternoon, at the Head Office, Prime Minister Nguyen Tan Dung hold a meeting with representatives of several ministries and agencies on August 25 to evaluate recent world economic change’s impact on Viet Nam’s economy.

Reports presented by Ministries and Agencies analyzed situations and made proposals for issues regarding to sharp decline of world oil prices as well as unexpected development of stock markets worldwide, adjustments of international capitals after China’s Yuan devaluation and other nation’s exchange rates changes. 

The Ministry of Finance affirmed that with current oil prices, State budget collection has still been ensured and expected to reach over the set target of 8%. 

Regarding to the decline of Vietnam’s stock market in the past few weeks, State Securities Commision and other relevant Ministries said that it was a matter of psychology and also affirmed that the stock market will recover in the coming time and there will be new flows of currencies taken into the market.

Regarding the interest and exchange rate, Governor of the State Bank of Viet Nam affirmed that it was a matter of psycology explaining a series of events: foreign exchanges pushed up to the ceiling rate, stressfulness at some points around the interest, businesses resevering foreign currencies. “There is no reason for us to continute to devaluate our currency after its recent quite huge devaluation. The remaining issue is market’s belief” – said The Governor Nguyen Van Binh.   

Speaking as a conclusion, The Prime Minister Nguyen Tan Dung lauded ministers and other authorities has been paying a close watch on the situation as well as  their close coordination in proposing appropriate and timely solutions. “ There is no reason we should adjust our target on marco-economy based on minister and agencies’ evaluations”- cited Prime Minister Nguyen Tan Dung.  
In respect of this understanding, The Prime Minister Nguyen Tan Dung asked ministers and agencies to keep planned targets taking stable macro-economy as the highest priority and just would not adjust GDP, inflation, state budget collection, import-export indexes....

The Prime Ministser meanwhile directed all relevants parties to better control exchange rate and interest rate, while enhancing measures to manage the securities market,aming for increased income and reduced expenditure.
At the same time, he also asked ministers and agencies for more efforts in boosting production, business and investment especially in oil and gas sector, togerther with stronger measures to increase exports, reduce imports, and combat smuggling and trade fraud.
27th August, 2015