His colleagues noted the severe decline in the world economy and said Vietnam is also showing signs of decline, which is having a direct effect on production and trade, consumption, export, investment and employment.

Dung suggested measures to prevent an economic slump, such as promoting production and exports, stimulating investment and consumption and implementing appropriate financial and monetary policies.

He told the Ministry of Finance and the State Bank of Vietnam to consider tax breaks for businesses and rescheduling their tax payments, reducing interest rates and monitoring exchange rates and foreign currency reserves.

He urged state-owned businesses to boost output and expand their export markets.

Source: VNA