Vietnam to restructure economy: PM Dung

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The government will start restructuring the economy while continuing to control inflation and maintain social security, Prime Minister Nguyen Tan Dung said last Saturday.

He said the government will implement "more agressively and effectively" Resolution 11, which includes a series of measures to restore economic stability in the country, according to a report on the government's website.

"The priority is to rein in inflation," Dung told a meeting in Hanoi. He also promised to help businesses overcome their difficulties.

"At the same time, it's necessary to think about long-term moves to restructure the economy," he said, noting that the first task is to review public investment, debts and restructure state-owned enterprises.

The measures will include speeding up share sales at state-owned companies and reforming the banking system, Dung said.

Vietnam's consumer prices rose 23 percent in August from a year earlier, according to the General Statistics Office.

The Economist Intelligence Unit said last week that high inflation and tighter policies will slow economic growth in Vietnam to 6 percent this year. But it noted that although global economic growth will slow in 2011, demand for Vietnamese goods is likely to remain robust, and the manufacturing sector is expected to ramp up production.

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