PM requests sustaining macro-economic stability
He also asked for the clearance of any barriers to production, trade, agriculture, tourism and services to propel growth, especially in the manufacturing and engineering industries. The economy grew by 6.03% from January to March, the highest growth rate during the first quarter since 2011, with agriculture growing stably, retail and services in high demand and exports gaining steam. Cabinet members shared the optimistic view that the recovering world economy is having a positive effect on the domestic economy. The PM praised ministries, agencies and localities for their timely actions from the outset of this year, which he said have brought about remarkable progresses.
They were requested to speed up the disbursement of development-oriented capital, including the State budget, government bonds and official development assistance while seeking new export markets and tapping advantages in trade agreements, international commitments and the ASEAN Community. Ministries and agencies were also tasked with speeding up the equitization of State-owned enterprises (SOEs).
Apart from 289 SOEs on the waiting list for equitization this year, it is imperative to continue selling stakes in under-performing SOEs and withdraw State capital from non-core business channels, he said. He asked the Ministry of Agriculture and Rural Development to focus intensely on preventing and counteracting the impacts of drought, offering all possible assistance to affected localities. Social welfare services, administrative reform and business environment improvements are set to continue.
The leader also agreed to a proposal on the need to amend Article 60 of the 2014 Law on Social Insurance, under which the government will ask the National Assembly to consider allowing workers who are not eligible for pension in terms of social insurance contribution time be entitled to a lump-sum social insurance payment.
