The council members stated that global economic growth has been slowing faster than expected, which has affected Vietnam’s economy, especially in the export sector. However, they noted that the domestic economy has remained stable with consumption and foreign direct investment posting decent growth and public investment disbursement higher than in the same period of 2018. The council stated that the monetary policy has been implemented in a flexible manner and in close coordination with fiscal and other policies in order to maintain macroeconomic stability and support growth. Members of the council suggested that the government should persist in its current policies while keeping abreast of domestic and external changes so as to maintain updated policy measures. In order to ensure growth and stability, many suggested the government deal with obstacles in the Law on Planning, promptly revise the Law on Public Investment and create funds for small and medium enterprise development. … [Read more...] about Deputy PM chairs meeting of financial, monetary advisory council
Ifrs advisory council
Financial-monetary advisory council meets to assess growth
The meeting of the National Advisory Council on Financial and Monetary Policies on March 28 (Photo: VNA) Hanoi (VNA) – The National Advisory Council on Financial and Monetary Policies met on March 28 to assess the economic growth in Quarter 1 and determine factors that can affect growth in the remaining months of the year, including obstacles in the banking and financial sectors. A report of the State Bank of Vietnam (SBV) showed domestic demand stayed stable in the first three months of the year, and consumption and foreign direct investment (FDI) maintained a good growth compared to the same period last year. Newly-registered and additional FDI capital rose by 82.6 percent while FDI disbursement picked up 6.2 percent on a yearly basis. However, export growth has slowed down remarkably, with a 5.4 percent increase this year to March 15 compared to 26.5 percent in the same period last year, according to statistics of the General Department of Vietnam Customs. Low … [Read more...] about Financial-monetary advisory council meets to assess growth
Financial advisory council told to focus on science-technology
Deputy Prime Minister Vuong Dinh Hue chaired the first-quarter meeting of the National Financial and Monetary Policy Advisory Council on Saturday. — VNA/VNS Photo Deputy Prime Minister Vuong Dinh Hue asked members of the National Financial and Monetary Policy Advisory Council to view science-technology as a ‘driver of growth’ rather than just an academic subject in its policy development process. Deputy PM Hue, who served as the advisory council’s chair, made the request at the first quarter meeting held on Saturday. He asked the council’s members and scientists to “contribute their knowledge” to the Government’s building of socio-economic development strategy over the next 10 years. At the meeting, he thanked the council for their feedback and ideas provided to the Government and the Prime Minister, which contributed to the economy’s impressive achievements in 2018 when all 12 targets were met which helped GDP record the highest … [Read more...] about Financial advisory council told to focus on science-technology
Financial advisory council to the Government told to focus on science-technology
Deputy Prime Minister Vuong Dinh Hue asked members of the National Financial and Monetary Policy Advisory Council to view science-technology as a ‘driver of growth’ rather than just an academic subject in its policy development process. Deputy PM Hue, who served as the advisory council’s chair, made the request at the first quarter meeting held on Saturday. He asked the council’s members and scientists to “contribute their knowledge” to the Government’s building of socio-economic development strategy over the next 10 years. At the meeting, he thanked the council for their feedback and ideas provided to the Government and the Prime Minister, which contributed to the economy’s impressive achievements in 2018 when all 12 targets were met which helped GDP record the highest level in 11 years. Following the council’s advice, the Government is actively building legal frameworks for the digital economy, sharing economy, intermediate … [Read more...] about Financial advisory council to the Government told to focus on science-technology
Deputy PM hails advisory role of National Financial and Monetary Policy Advisory Council
The Deputy PM made the remarks at the meeting of the council in Da Nang on January 12, to review the operation of macroeconomic policies in 2018 and make recommendations to the Government for 2019. Deputy PM Hue acknowledged the suggestions from the council for the Government operations in 2019, adding that the Government is actively building a legal framework to implement these suggestions, including the development of the digital economy, sharing economy, intermediary payments, and others. The Government official also ordered the council members to contribute their knowledge and assist the Government in building a socio-economic development strategy in the next 10 years, which considers science and technology as a driving force for economic development. Despite fluctuations in the world economy in 2018, the domestic economy proved its resistance with outstanding achievements, fulfilling and surpassing all 12 targets set by the National Assembly. The council members also spoke highly … [Read more...] about Deputy PM hails advisory role of National Financial and Monetary Policy Advisory Council