The Vietnamese Government has achieved initial success in curbing inflation, stabilising the macro economy and ensuring social welfare amidst the global economic downturn, said Deputy Prime Minister Nguyen Sinh Hung.

While receiving his Lao counterpart Somsavat Lengsavad in Hanoi on November 15, Mr Hung said that Vietnam will continue to give priority to reducing inflation and preventing its economy from plunging into recession.

He told his guest that Vietnam aims to attract US$62 billion in foreign investment this year, double last year’s figure. Its exports in the past three quarters also increased by 39 percent against the same period last year.

The Vietnamese Government will continue to carry out incentive policies to attract investment and boost production and business activities as well as domestic consumption with the aim of achieving a steady economic growth in 2009, said Mr Hung.

For his part, Deputy PM Lengsavad congratulated Vietnam on its initial success in curbing inflation and expressed his country’s desire to promote multifaceted cooperation with Vietnam.

He said Laos has also been slightly affected by the global financial crisis, however, its economic growth rate remains high, standing at 7.9 percent in the past 10 months and it is expected to increase to 8 percent by the year’s end.

He said in addition to economic development, the Lao Government is taking measures to develop health care, education and training to meet the requirement of society.

Source: VOV