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Vietnam determined to achieve 3 pct. growth this year

2/10/20

 


The Vietnamese Government resolved to record GDP growth of 2.5-3 percent this year at its recent monthly meeting, Minister and Chairman of the Government Office Mai Tien Dung told a press conference on October 2.

To this end, Dung said Prime Minister Nguyen Xuan Phuc has asked ministries and agencies to build a value chain model for each type of priority product, removing difficulties for projects and propelling growth.

The State Bank of Vietnam was also urged to offer all possible support to boost credit growth.

Highlighting bright spots in the economy in September, Dung said Vietnam has successfully curbed two COVID-19 outbreaks and by now gone 30 days without any community transmissions. The agriculture sector is likely to earn 41 billion USD from exports this year. Amid the pandemic, the country still posted a trade surplus of 17 billion USD.

Localities recently began the construction of three major works that are part of the eastern section of the North-South Expressway project. Five other works in the public-private partnership model under the project are expected to be launched in October.

Disbursement of public investment capital in September and the first nine months of the year hit records. Total social investment was up 7.4 percent annually in the third quarter, with State sector investment up an impressive 21.5 percent.

FDI topped 21 billion USD in the first nine months, while the consumer price index rose 3.85 percent.

On the back of the 2.62 percent growth in the third quarter, the country could post a solid result this year, which would be a great effort given that other ASEAN member states have posted negative growth, Dung said./.


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All comments [ 11 ]


Red Star 2/10/20 21:17

Prime Minister Nguyen Xuan Phuc has highlighted bright spots in the country’s socio-economic development in September and the third quarter at the monthly government meeting.

Jacky Thomas 2/10/20 21:17

Strong recovery was seen in agriculture, industry, finance, banking, and social welfare, saying it will create a good premise for economic growth in Q4 and the whole year.

Kevin Evans 2/10/20 21:19

As Vietnam’s economy expanded 2.62 percent in Q3, the nation will definitely enjoy positive economic growth, at least from 2 percent, for 2020.

yobro yobro 2/10/20 21:21

The economy has recovered quickly after disruptions caused by the coronavirus outbreak, with stable macro-economy, strong securities market, and stable exchange rates.

For A Peace World 2/10/20 21:23

The role of the State, private and FDI companies have become the important driver for growth and job generation in the country.

Wilson Pit 2/10/20 21:25

Difficulties and challenges remained for tourism, aviation and transportation sector while the current growth still lags behind expectation.

Socialist Society 2/10/20 21:30

Vietnam is entering the third wave of reforms, with the goal of slashing at least 20 percent of business regulations in the next five years.

Herewecome 2/10/20 21:33

The Government’s business regulation reform programme in 2020-2025 was the largest and most comprehensive yet, demonstrating the Government’s determination to improve the business environment to drive development.

Me Too! 2/10/20 21:35

The role of the press, media and advertising in the effort to shorten the gender gap towards gender equality was extremely important.

Vietnam Love 2/10/20 21:37

More comprehensive reforms to tackle existing problems in the business legal system and hasten reforms of management agencies at all levels, he said, stressing that listening to businesses were essential.

Allforcountry 2/10/20 21:37

We fully believe that our organisations and universities will work closely for the common goal, which is to successfully implement the project to address gender bias and promote gender equality in Vietnam.

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