MPI proposes measures on anti-dollarisation

March 23, 2011 | 09:46

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The Ministry of Planning and Investment (MPI) recently proposed a group of five solutions to fight dollarisation.

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According to the MPI, even though the government’s Resolution No. 11/NQ-CP (on key solutions for controlling inflation, stabilising macro-economy, and ensuring social welfare) and government’s Resolution No. 02/NQ-CP (on key solutions for controlling inflation, stabilising macro-economy and ensuring social welfare) have been positively implemented, it is necessary to conduct new measures on anti-dollarisation in favour of macro-economic stability.

The MPI recommended that anti-dollarisation measures should be conducted comprehensively and synchronously, focusing on economic and technical fields instead of administrative procedures.

Following are the group of five measures on anti-dollarisation:

Firstly, taking macro-economic measures to raise dollar reserves, actively regulate exchange rates, diversifying foreign currencies, selling foreign currencies to people for legitimate purposes like overseas study, medication, and working.

Secondly, adjusting production structure to avoid heavy reliance on import raw materials which result in big dollar demands.

Thirdly, enhancing performance of credit organisations, offering more services in VND like payment cards and consumption loans.

Fourthly, applying attractive measures to attract sources of foreign currencies from enterprises, individuals, as well as overseas Vietnamese by opening more currency exchange locations at airports and border gates, and providing incentives for those exchanging a large amount of dollars into VND.

Finally, amending legal documents and supervising the posting of prices for all products in VND.

VGP

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