Hanoi should focus on tightening expenditures, reducing spendingand stabilising the four key areas of commodities, prices, interestrates and exchange rates in order to join with localities nationwide tocurb inflation, said Permanent Deputy Prime Minister Nguyen Sinh Hung.
The city should take harmonious measures to curb inflation whilemanaging prices in order to create conditions for investors while alsocreating more effective production, he said at a meeting held by Hanoiauthorities on March 5 to implement the Government Resolution ontaking measures to curb inflation, stabilise the macro-economy andensure social security.
The city needed to take moredrastic measures in its monetary policy and credit growth management andcontrol, particularly by paying more attention to exports to reduce thetrade gap, Hung said.
It was essential to mobiliseinvolvement of the whole society to curb inflation by creating changesin awareness and daily consumption habits of people in all walks oflife, he added.
Success in curbing inflation in Hanoi and other cities will lead to the success of the whole country, he stressed.
Municipal People's Committee Chairman Nguyen The Thao said the citywill focus on taking a number of key measures, including seriouslyimplementing tight monetary policy and managing credit growth to keep itunder 20 percent in 2011.
Particularly, the city willfocus on inspecting gold and foreign currency trading and strictlypunishing those involved in speculation and illegal gold and foreigncurrency trade, he said.
The city will also increasemanagement to prevent budget loss and make the maximum possible costreductions for organising conferences and meetings, as well as domesticand foreign business trips, Thao said.
Implementation ofdelayed and ineffective projects with State budget investment will becancelled or postponed, while investment will be poured into socialinfrastructure projects, and rural and agriculture projects, Thao said.
Regarding measures to ensure social security, the municipal Departmentof Labour, Invalids and Social Affairs will actively work with districtsin the city to implement the city's job creation programme during the2011-15 period with a target of generating jobs for 137,000 workers.
Credit priority will be given to poor households and those near thepoverty line to help them with production development and labour export,Thao said.
The city will continue to provide an allowancefor around 2,000 poor households and people who rendered great servicesto the country.
Other provinces and cities nationwide arealso carrying out the Government's measures on inflation control in aneffort to maintain economic stability and ensure social welfare.
Phu Yen province, for example, will review regular State budgetexpenditures and create measures to save 10 percent of its expenses forthe rest of the year.
The province will also monitor credit at banks and credit institutions to keep the growth rate under 20 percent.
Similarly, Quang Tri province will work to cut 10 percent of public expenditures and reduce energy spending.
Other provinces, including Lai Chau, Ha Tinh, Hoa Binh and Ha Nam , have also mapped out measures to control inflation.
The north-central province of Ha Tinh , for example, has askedcommercial banks to give priority to capital for the production andtrading sectors, and stop lending to non-manufacturing, real estatecompanies and the stock market.
The province has alsoordered agencies to speed up construction on the province's key projectssuch as Vung Ang 1 Thermal Power Plant and Sai Gon-Ha Tinh Beerbrewery.
Lai Chau province targets saving 10 percent of annual State budget spending of more than 26 billion VND (1.3 million USD).
It has called on agencies, organisations and institutions to increasesavings in electricity, water, telephone, office supplies and petrol.
Ha Nam province People's Committee plans to review the performanceof enterprises in the province to solve any difficulties, and imposestrict penalties to those who violate laws and regulations.
The authorities have also ordered the provincial Bank for Social Policyto offer loans to poor households, disadvantaged students andbeneficiaries of social welfare, who need capital to start businesses orto study or work abroad./.
The city should take harmonious measures to curb inflation whilemanaging prices in order to create conditions for investors while alsocreating more effective production, he said at a meeting held by Hanoiauthorities on March 5 to implement the Government Resolution ontaking measures to curb inflation, stabilise the macro-economy andensure social security.
The city needed to take moredrastic measures in its monetary policy and credit growth management andcontrol, particularly by paying more attention to exports to reduce thetrade gap, Hung said.
It was essential to mobiliseinvolvement of the whole society to curb inflation by creating changesin awareness and daily consumption habits of people in all walks oflife, he added.
Success in curbing inflation in Hanoi and other cities will lead to the success of the whole country, he stressed.
Municipal People's Committee Chairman Nguyen The Thao said the citywill focus on taking a number of key measures, including seriouslyimplementing tight monetary policy and managing credit growth to keep itunder 20 percent in 2011.
Particularly, the city willfocus on inspecting gold and foreign currency trading and strictlypunishing those involved in speculation and illegal gold and foreigncurrency trade, he said.
The city will also increasemanagement to prevent budget loss and make the maximum possible costreductions for organising conferences and meetings, as well as domesticand foreign business trips, Thao said.
Implementation ofdelayed and ineffective projects with State budget investment will becancelled or postponed, while investment will be poured into socialinfrastructure projects, and rural and agriculture projects, Thao said.
Regarding measures to ensure social security, the municipal Departmentof Labour, Invalids and Social Affairs will actively work with districtsin the city to implement the city's job creation programme during the2011-15 period with a target of generating jobs for 137,000 workers.
Credit priority will be given to poor households and those near thepoverty line to help them with production development and labour export,Thao said.
The city will continue to provide an allowancefor around 2,000 poor households and people who rendered great servicesto the country.
Other provinces and cities nationwide arealso carrying out the Government's measures on inflation control in aneffort to maintain economic stability and ensure social welfare.
Phu Yen province, for example, will review regular State budgetexpenditures and create measures to save 10 percent of its expenses forthe rest of the year.
The province will also monitor credit at banks and credit institutions to keep the growth rate under 20 percent.
Similarly, Quang Tri province will work to cut 10 percent of public expenditures and reduce energy spending.
Other provinces, including Lai Chau, Ha Tinh, Hoa Binh and Ha Nam , have also mapped out measures to control inflation.
The north-central province of Ha Tinh , for example, has askedcommercial banks to give priority to capital for the production andtrading sectors, and stop lending to non-manufacturing, real estatecompanies and the stock market.
The province has alsoordered agencies to speed up construction on the province's key projectssuch as Vung Ang 1 Thermal Power Plant and Sai Gon-Ha Tinh Beerbrewery.
Lai Chau province targets saving 10 percent of annual State budget spending of more than 26 billion VND (1.3 million USD).
It has called on agencies, organisations and institutions to increasesavings in electricity, water, telephone, office supplies and petrol.
Ha Nam province People's Committee plans to review the performanceof enterprises in the province to solve any difficulties, and imposestrict penalties to those who violate laws and regulations.
The authorities have also ordered the provincial Bank for Social Policyto offer loans to poor households, disadvantaged students andbeneficiaries of social welfare, who need capital to start businesses orto study or work abroad./.
