6.5% GDP growth a challenge: Vietnam’s statistics office

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The Vietnamese economy is projected to continue facing difficulties this year, making it challenging to achieve the targeted gross domestic product (GDP) growth rate of 6.5 per cent, a top government official said. As the economy is largely open, exposed to the complicated and unstable situation globally, joint efforts by the government and businesses are required to tackle those.

The GDP in the first quarter of this year rose by 5.03 per cent over the same period last year, marking a high increase in the first quarters of the years in the 2011-2020 period, said Nguyen Thi Huong, director general of the general statistics office.

Vietnam’s economy is projected to continue facing difficulties this year, making it challenging to achieve the targeted GDP growth rate of 6.5 per cent, a top government official said. As the economy is largely open, exposed to the complicated and unstable situation globally, joint efforts by the government and businesses are required to tackle those.

Authorities at all levels must intensify their forecast, exercise a proactive and flexible management that suits the new situation and realise the policies in support of the socio-economic recovery and development, the official proposed.

She also suggested seven measures to realise the economic growth goal for the whole year.

First, the government should continue to implement its resolution on the effective control of the COVID-19 pandemic to support economic recovery and development in the 2022-23 period. All public investment capital must be disbursed to create a push, she stressed.

Second, to maintain macroeconomic stability, prices and market should be controlled to ensure adequate supply and circulation of commodities.

Third, domestic production should be boosted to ensure supply of materials inside the country and power projects should be accelerated.

Fourth, stable export markets should be nurtured and commodity value chains should be built along with logistics infrastructures for agriculture in rural areas to ensure sound domestic market supply chain.

Fifth, the tourism market should be quickly revived. Sixth, administrative reforms should be pushed to remove bottlenecks to business and production and accelerate digital transformation of the economy.

Last, the government should proactively build plans against natural calamities to limit losses to production and disruptions to life.

Fibre2Fashion News Desk (DS)




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