Sign up | Log in



 17 Aug 2008

Related Stories

August 3, 2008
Vietnam: Inflation triggers workers strike

July 25, 2008
Vietnam: Inflation hits 27%, exports boom

July 24, 2008
Vietnam : Petrol price hike may trigger domino effect 

July 21, 2008
Vietnam: Loan rate cuts may not help lift business sentiment – analysts

July 9, 2008
Vietnam assures steady prices to keep inflation at bay 

June 29, 2008
Asian countries under test in face of inflation

June 28, 2008
Vietnam: Not applying for IMF loan programme

June 25, 2008
IMF: Little risk of contagion from Vietnam woes 

June 8, 2008
Analysts fear worst-case scenario

June 7, 2008
Govt asked to tighten policy to fix 'overheating' economy

April 26, 2008
Inflation surges 17% in Jan-April 2008

April 5, 2008
Group vows to be vigilant' on inflation

Emerging MarketsTaking on


Vietnam vows to cut inflation

Vietnam's Prime Minister Nguyen Tan Dung on August 13 asked leading officials from across Vietnam to implement the government's eight solutions to push down the inflation rate to a single digit by the end of next year, reported state news agency VNA.

Currently, the year-on-year inflation rate is 27 percent.

Dung was commenting on achieving targets set by the tenth Party Congress last year. He made the remark while attending a training course in Ho Chi Minh City for more than 180 key officials from 59 cities and provinces.

He said that in the first seven months of this year, Vietnams economy reflected the results of high agricultural production, the lifting of foreign-direct investment to $45.2 billion and a 37.7 percent increase in export turnover.

Thanks to strict control, Dung said that imports were being reduced and the trade deficit was gradually narrowing. In July, the consumer-price index (CPI) increased by only 1.13 percent, the lowest since early this year.

To minimise the impact of inflation on poor and low-income people, particularly ethnic minorities, fishermen and those living in areas affected by natural disasters, the Government had guided authorities to carry out many social-security policies.

Dung also identified management practices, particularly forecasts, that had contributed to price surges and higher inflation.

"Vietnam is a poor country, but ranks second as a world importer of gold. The import of cars, including luxury vehicles, has risen by 300 percent. And credit has increased immensely," said the Prime Minister.

Because of rising prices and inflation, which also affect production costs, Dung has asked localities to solve any production and export difficulties and improve conditions for investors by effectively using investment resources and quickly solving administrative procedures.

Dung said that a cement plant with a capacity of one million tonnes a year had been completed in one province, but could not operate because no electricity had been supplied.

As for the Cuu Long (Mekong) Delta provinces, the Prime Minister told localities to concentrate on harvesting the summer-autumn rice crop and offer a reasonable price for it to support farmers. Dung also said it was necessary to strictly punish speculation and smuggling.


















Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited

submit your comment in the box below 





1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand