Addressing shortages of gasoline, pharmaceuticals, and medical supplies, promoting vaccinations, developing safe, healthy, and sustainable markets, ensuring supply, and stabilizing good prices during the Lunar New Year (Tet) holiday were the key tasks raised by Prime Minister Pham Minh Chinh while chairing a government meeting in Hanoi on December 1.

He directed that a balance be found between interest rates and exchange rates and between controlling inflation and promoting growth. The State Bank of Vietnam (SBV) must make amendments to circulars relating to credit.

PM Chinh also asked for an expansionary fiscal policy focusing on removing obstacles facing businesses, and increasing revenues and reducing expenditures, in particular saving on unnecessary expenses.

When State agencies see individuals and businesses face difficulties, they must uphold their responsibility so that people do not believe the State is neglectful, he said.

He also highlighted the government’s determination to rectify the operations of the corporate bond, real estate, and securities markets.

Punishment will be imposed on violators and the legitimate rights and interests of individuals and businesses protected.

The government has established working groups on liquidity and currency, the real estate market, and corporate bonds, led by deputy prime ministers, to stabilize these markets.

According to the government’s assessment, the macro-economy in November had basically stabilized with inflation under control.

Major balances were ensured, such as revenue and expenditure and trade, with an export surplus of more than $10 billion posted.h

The consumer price index (CPI) rose 3.02 per cent in the first eleven months of the year, while State budget collections surpassed the estimate by 16.1 per cent. Nearly 195,000 enterprises were established or resumed operations, up 33.2 per cent year on year. FDI inflows hit $19.68 billion, up 15.1 per cent; a five-year record for the period.