Major tasks for socio-economic development in 2015

The Government sets the growth rate of 6.2% for 2015 compared to 5.8% last year

The Resolution sets key criteria for 2015 such as a gross domestic product (GDP) growth rate of 6,2%; a 10% rise in export turnover, trade deficit  accounting for 5% of the total export value, consumer price index growth rate of 5%, total social development capital making up 30-32% of  the GDP, poverty rate down by 1.7-2%, and 1.6 million new jobs.

The State Bank of Viet Nam is assigned to pursue a flexible monetary policy in close combination with the fiscal policy to control the inflation, guarantee  macro-economic stability, accelerate economic growth and develop the financial and stock markets in order to increase the capital mobilization for national development.

The Ministry of Finance is responsible for managing State budget spending instead of issuing new policies that increase budget spending; cutting down expenses for conferences, seminars, festivals, overseas business trips.

The Ministry of Planning and Investment gives priority to allocating investment capital for crucial projects scheduled for completion in 2015 and guaranteeing corresponding capital for official development assistance (ODA) projects.

Meanwhile, the Ministry of Industry and Trade is tasked to ensure the balance of goods supply and demand, especially during the upcoming Lunar New Year Festival and actively deploy measures to stabilize the market and prices.

The Government requires the State Bank of Viet Nam to facilitate credit access by businesses, co-operatives and households, speed up the handling of bad debts to reduce the rate below 3%, and encourage domestic and foreign investors to participate in purchasing bad debts.

Ministries, agencies and localities will continue the overall economic restructuring plan and the plan on rearranging industries and sectors in a sustainable way, accelerate the restructuring of State-owned enterprises (SOEs), focus on divesting State capital from SOEs, restructuring agriculture, cultivation, breeding, aquatic and forestry processing.

The Ministry of Finance, other relevant ministries, agencies and localities will continue to implement self-control mechanisms for non-business public units, allowing them to have autonomy in implementing tasks, personnel, and finance as well as fostering social involvement in public services.

By Thuy Dung