Disease control must go in tandem with economic development: PM

Prime Minister Nguyen Xuan Phuc speaks at the meeting. (Photo: VNA)

Speaking at a meeting of the National Financial and Monetary Policy Advisory Council in Hanoi, the PM pointed out that impacts of the COVID-19 epidemic have affected the economic growth of many countries, including Vietnam’s economic and trade partners, leading to disruption of many production and trade chains.

“We should be neither pessimistic nor subjective,” said Phuc, who is also Chairman of the council, calling for drastic actions and great efforts to fight the epidemic and boost production and business.

The leader urged agencies and localities to chart scenarios on the realisation of tasks amidst COVID-19 concerns and increase analysis and forecast activities to cope with external impacts.

There has yet been any reason to adjust growth and macro targets, he emphasised.

At the meeting, experts suggested paying more attention to curbing inflation over virus fears, optimizing fiscal policies which still have room of manoeuvre, speeding up the disbursement of public investment, especially in health care, education and environment.

They also recommended boosting export to the EU after the EU-Vietnam Free Trade Agreement (EVFTA) takes effect, and diversifying import markets given the high rate of materials imported from China.

Governor of the State Bank of Vietnam Le Minh Hung said the central bank will not rush to tighten monetary policy while staying alert in the present circumstances.

Council members urged continued administrative reform, and measures taken to promote production and trade as well as boost domestic demand.

They proposed credit support for businesses which are affected by the COVID-19 epidemic, and projects in energy, infrastructure, processing, high-tech agriculture and information-technology.

Many suggested strengthening international cooperation in fighting COVID-19 and intensifying communication work in this regard.