Deputy Prime Minister Nguyen Xuan Phuc affirmed that the Government will try its best to overcome difficulties to fulfill the socio-economic tasks set for 2013.  The deputy PM made the statement on the afternoon of June 14 when he participated in the ongoing Q&A session of the 13th National Assembly.

In a report released at the session, Phuc said that many positive developments have been recorded in the national economy. The inflation has been put under control while the Consumer Price Index (CPI) in only grew by 2.35 percent in the first five months of 2012, the lowest rate in the past four years. Export in the reviewed period rose 15.1 percent year on year while import surged 16.8 percent. Registered foreign direct investment up 8.9 percent to US$8.52 billion, and the disbursed volume increased by 1.6 percent to $4.58 billion. In order to meet the 2013 targets, Phuc said, the Government will assign all ministries to carry out necessary solutions, including improving the investment environment and encouraging foreign investment, accelerating exports, and cutting down enterprise tax. By the end of this year the Government will settle VND105 trillion of non-performing loans and bring the ratio of non-performing loans to safe level by 2015, the deputy PM said. At the same time, monetary solutions will be applied, with a VND30 trillion bailout to be used to float the property market, the official said.  The Government will also step up equitization and request State-owned enterprises to withdraw State capital from their non-core business lines before 2015.

In respect of pushing up economic restructuring, the Deputy PM said the Government’s policy is to strengthen public investment effectiveness, perfect institutions, deal with bad debts and strengthen inspecttions, and step up the restructuring of the banking sector.