Vietnam vows to curb CPI at below 8% this year, govt says

Vietnamese Prime Minister Nguyen Tan Dung requested to stabilize macro economy, maintain proper exchange rates and keep the country’s consumer price index below 8% this year.

Dung made the request at a monthly cabinet meeting in Hanoi Aug 4, the government said on its website on the same day.

The PM ordered the Ministry of Finance to work with state agencies to prevent speculation and trade frauds and put a serious check on prices of pharmaceutical and milk products.

He urged the Ministry of Industry and Trade to take measures to ensure stable supply of essential commodities to stabilize their prices in line with Vietnam’s commitments to the World Trade Organization.

The government chief also noted the necessity to speed up infrastructure construction projects, boost up export, accelerate the equitization of State-owned enterprises, and prevent natural disasters.

Dung, meanwhile, asked to keep prices of coal which will be sold to local thermo power plants unchanged while prices applied for cement, paper and fertilizer production plants will be gradually adjusted.

At the meeting, cabinet members predicted that the economy would continue to rebound and the country is likely to secure the full-year economic growth target of 6.5% and curb trade deficit at below 20% of the country’s total export revenues.

A government data has indicated that Vietnam’s CPI soared 4.84% in the first seven months of this year. The index was up 8.19% from last July.

Tags: Vietnam CPI, Vietnam economic, Vietnam economy