Mr Hai made the request at an online conference in Hanoi on July 8 to review the MoIT’s activities in the first half of this year and work out tasks for the second half.

He asked the MoIT to help businesses, particularly those working in the oil and gas, garment and power sectors, to iron out snags and achieve a steady growth.

If the Dung Quat Oil Refinery is not put into operation in February 2009 as scheduled, it will fail to secure a 30-percent balance in national oil reserves, said Mr Hai.

He also asked the power sector to resume power production and shorten the test-run period of the Ca Mau 1& 2 and Nhon Trach 1 power plants to ensure an adequate supply of power for daily production and domestic use.

“The national economy will be faced with more difficulties in the remaining six months of this year if these issues are not addressed properly,“ said Mr Hai.

He reaffirmed the Government’s resolve to curb runaway inflation, considering it a top priority task. He stressed the need to cut down on sources of capital allocated for inefficient projects to invest in highly efficient key projects.

He urged the MoIT to work closely with its affiliates to seek out solutions to boost exports and reduce imports with the aim of balancing the trade deficit. He said the MoIT must enhance its management capacity to stabilise the domestic market and ensure a good balance between supply and demand of essential commodities.

According to MoIT Minister Vu Huy Hoang, the industry and trade sector aims to increase exports by 25 percent in the second half of this year to reduce the trade deficit. He said it strives to keep the trade deficit of less than US$20 billion, equivalent to last year’s figure, and to ensure an adequate supply of essential commodities.