Agriculture, forestry and fisheries have all developed stably so far this year, said Prime Minister Nguyen Tan Dung at a regular government meeting Wednesday.

Industrial production value was estimated at VND265.64 trillion (US$14.76 billion) over the first five months of this year, increasing 4 percent over the same period last year, according to the Ministry of Planning and Investment.

Meanwhile, the trade deficit decreased, standing at $1.1 billion, equal to 5 percent of total export revenues. The respective figures between January and May of 2008 were $13.47 billion and 55.7 percent.

The country earned $22.86 billion from goods shipments, down 6.8 percent year-on-year. The nation also spent nearly $24 billion, a figure which plummeted 37 percent year-on-year.

The consumer price index between January and May increased 11.59 percent over the same period last year.

The prime minister has asked relevant agencies to adjust policies on foreign exchange and banking interest rates intelligently while closely monitoring trade deficit and the stock market, Phuc said.

Dung has also asked agencies to accelerate administrative procedures, speed up capital disbursement in infrastructure construction, ensure social welfare, boost disease prevention and combat corruption.

Regarding dairy prices, Deputy Minister of Finance Tran Van Hieu said his ministry had asked tax agencies and market management forces to strengthen supervision over prices and quality while strictly dealing with all violators.

Regarding the foreign laborer situation, Phuc said central administrators are not considering the issue to a large extent because labor cases are dealt with under the local law.

The PM has asked the Ministry of Labor, Invalids and Social Affairs to settle labor disputes in line with international practices, Phuc said.

More than 75,000 foreigners are working in Vietnam, according to the latest report by the Ministry of Labor, Invalids and Social Affairs.

Reported by Ngan Anh