Prime Minister’s 5-point plan for struggling economy

Hanoi, Jan 2, 2009. Prime Minister Nguyen Tan Dung Thursday set out a five-point plan to achieve socioeconomic targets approved by the National Assembly (NA) last year.

Vietnam posted economic growth rate of 6.23 percent last year, lower than the original target of 7 percent as well as 2007’s 8.5 percent.

Dung’s economic blueprint, says that by the end of the third quarter last year, the government had succeeded in containing inflation and stabilizing the macro-economy.

The country has shifted its priority from containing soaring inflation to preventing economic recession, Dung said. The fight against slowing economic growth is even harder than that against inflation considering the limited resources of the country as well as the ongoing international financial crisis, Dung said.

In the face of such obstacles, the government identified its main task as “enlisting the whole society in preventing economic recession, sustaining economic growth, and ensuring social welfare policies.”

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Government of Vietnam Web Portal, Jan 1, 2009.

Thanh Nien Online, Jan 2, 2009.

Vietnam News Online, Jan 2, 2009.