The Vietnamese Government Has Proposed To Reduce Import Tax On Raw Materials Such As Textiles And Garments.

In February 24th (2011), Vietnamese Prime Minister Kim Yong Yong issued resolution 11/NQ-CP, which issued important emergency measures to curb inflation, stabilize the macro-economy and ensure social welfare, including:

First, prudent and tight monetary policy should be implemented.

Two, we should strengthen the management of the annual budget, cut down the government investment plan and reduce the overdraft of the Treasury.

Three, we should strengthen production and operation, encourage exports, curb trade surplus and save energy.

Four, help poor people to adjust their electricity prices and fuel prices.

Five, enhance social security;

Six, strengthen publicity and guidance work.

Vietnamese Prime Minister's instructions

In addition, the prime minister also asked the central bank to introduce the government's draft regulations on the management of gold activities in the second quarter of this year, in order to set up a centralized window for gold imports and to abolish the operation of gold films in the domestic market in the future.

The Vietnamese Prime Minister also instructed the ministries and local governments to save 10% of their regular expenditure 9 months before the end of this year; temporarily suspend the purchase of automobiles, air conditioners, office equipment, and save water and electricity, telephone, stationery and oil.

Saving expenditure on meetings and seminars; temporarily suspending the use of national budgets and government bond investment schemes (except for improving natural disaster consequences, major national plans and 0DA plans).

For the lack of raw materials.