(VOVworld) – Vietnam’s economy in the first 5 months of this year saw positive changes. Macro-economic indexes were in positive territory with inflation curbed.

A government report says that the Consumer Price Index (CPI) dropped by 0.06% in May. Export turnover so far this year fetched nearly 30 billion USD, 15% higher than the same period last year. Foreign Direct Investment (FDI) reached 8.52 billion USD, an increase of 9% against the same period last year. Social security was strengthened amidst existing economic difficulties. The government paid special attention to the real estate market. Minister of Construction Trinh Dinh Dung said: “We are seeking to remove obstacles from the real estate market by implementing the national housing strategy approved by the Prime Minister. This is the right direction to balance supply and demand. Now 56 commercial housing projects have been transformed into social housing projects. In addition, the State Bank of Vietnam has issued a circular on the implementation of a 30 trillion VND package to help the real estate market and provide the poor with loans to buy houses”.

The government also pointed out economic shortcomings such as the agriculture, forestry, aquaculture, industry and construction sectors. There remains the gap between deposit interest rates and lending interest rates. The restructuring of commercial banks, clearing bad debts and unfreezing the real estate market remains slow.  

Prime Minister Nguyen Tan Dung insisted on the target of macro-economic stabilization and inflation control: “We should stabilize the macro-economy and control inflation at the same time, while boosting business, production and investment to achieve growth. But we should not tolerate the recurrence of inflation and counter-restructuring process”.

The government has instructed the Ministry of Finance to fulfill budget plan and spend less. The State Bank is required to take more aggressive measures to settle bad debts, increase credits for prioritized sectors such as agriculture, auxiliary industry, and businesses that employ a large number of employees and have larger impact on the national socio-economy. Special attention should be paid to agricultural production by facilitating farmers to access loans, stockpile agricultural produce and implement other incentives for farmers. Localities continue to help ease difficulties for businesses, promote trade and expand export markets. In the long run, localities should accelerate the restructuring of state-owned enterprises, credit institutions and public investment. The government will propel Vietnam to achieve its target of macro-economic stabilization, inflation control and social security, creating premise for sustainable development.