The government will focus on implementing measures to control prices and deal with power shortage in the remaining months of this year, according to Prime Minister Nguyen Tan Dung.
The PM made the statement at the cabinet’s September meeting on Thursday, which discussed the nation’s socio-economic performance in the past nine months and socio-economic tasks in the fourth quarter.
Dung said he will soon issue Instructions on solutions to control prices and stabilize the market from now to the year-end and early 2011.
Putting the emphasis on the close connection between prices and monetary and credit policies, the PM underscored the need to continue keeping stable the prime interest rate.
He asked relevant ministries and agencies to be proactive and flexible in executing monetary policies in service of economic growth, not letting any price fever of essential goods, especially medicine and milk, occur.
To tackle power shortage, Dung asked the electricity sector, especially the Electricity of Vietnam to take drastic measures to ensure sufficient power in both short and long terms.
He requested the sector to quickly speed up construction and commissioning of power plants along with buying power from neighboring countries and regulating power resources appropriately.
At this meeting, the cabinet members discussed reports on the country’s socio-economic performance over September and the past nine months presented by ministries of planning and investment, finance, and industry and trade, and forecast the future national and global economic situation.
They agreed that the country’s national economy moved positively over the past nine months with GDP reaching 6.52 percent.
Exports in nine months were estimated to rake in US$51.5 billion, rising 23.2 percent over the same period in 2009 and nearly quadrupling the yearly goal of over 6 percent set by the National Assembly.
Trade deficit continued to be narrowed to stand at $8.58 billion, which accounted for 16.7 percent of export value, or the lowest level in the past years.
The cabinet members were concerned about an increase of 1.31 percent in consumer price index (CPI) in September, which made CPI grow 6.46 percent compared to December, 2009 and 8.64 percent year on year.
Also at this meeting, the cabinet members listened and gave opinions to reports on Vinashin’s business and production performance, land use plans for the 2011-2015 period and to 2020, and a summary of government members’ opinions on a draft decree to replace the existing decree on sanctions against administrative violations in the maritime sector.
Insufficient water may make it impossible for the nation's largest hydropower project in Son La to start running at the end of this year as planned, a local weather expert said.
Vietnam plans to continue purchasing electricity from China in the next five years as the country tries to ensure its energy security, the government said.