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Govt commits to improving VN investment environment

Controlling spiralling prices and removing obstacles which face investors topped the agenda of the monthly cabinet meeting that ended yesterday.

Prime Minister Phan Van Khai who chaired the meeting said the Government would develop more effective measures to diminish the effects of price hikes on people’s lives and the nation’s macro-economic development.

He said the tourism and services industries should be further improved and come to play a greater role in the country’s economic growth.

Khai urged officials at all levels to practise thrift and help businesses deal with any difficulties they face.

The PM said the second half of the year would be marked by Government initiatives in combating crime, deforestation, and the rise in traffic accidents.

He pledged more effective centralised management and acceleration in the execution of Government approved development plans.

Khai said planned projects using Government. GDP for the first six months’ of the year, the Prime Minister noted, touched just above 7 per cent, not reaching the set target of 7.5-8 per cent.

Khai and his cabinet said the increase in the price of raw materials since the beginning of the year had contributed to the increase in Viet Nam’s production costs, hampering exports.

However, between January and June, export value increased nearly 20 per cent, an eight per cent increase over the set target.

The cabinet said the price index might continue increasing in the next few months and affect both business operations as well as the lives of the people.

In the first half of this year the farming, forestry and fisheries sector grew 3. 1 per cent, 1.5 per cent below the set target.

Cabinet members agreed bird flu and harsh weather were to blame for the sector’s negative growth.

Khai said slow administrative reform coupled with slack enforcement of Government policies had hindered the country’s development.

Minister and Director of the Government Office Doan Manh Giao said in the first six months the year, the Government stipulated many policies that created a positive engine for socio-economic development, dealt with critical problems and bolstered support for local authorities.

The cabinet also discussed the decree guiding the enforcement of the Land Law, which went into effect July 1.

Also debated were a draft on the Pharmaceutical Law and a draft decree governing the organisation and management of State-owned corporations as well as the transformation of State-owned companies into holding companies.

Khai’s three deputies Nguyen Tan Dung, Vu Khoan, and Pham Gia Khiem took turns chairing the three-day meeting.

VNS - (05/07/2004)

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