Illustrative image (Source: VNA)
Hanoi (VNA) - Vietnam’s economic growth is forecast to expand 6.17 percent in the second quarter of this year, said the Central Institute for Economic Management (CIEM).

The CIEM’s latest research forecasts that the inflation rate will rise by 0.73 percent against the first quarter’s figure, export growth will reach 8.02 percent, and trade deficit will be 420 million USD.

CIEM Director Nguyen Dinh Cung suggested implementing regulations on business freedom, stressing that it is necessary to create a competitive business environment in Vietnam for enterprises.

Ministers and chairpersons of provincial People’s Committees should drastically direct to set up a coordinating and competitive market mechanism, thus increasing coordination for the economy.

Economist Le Dang Doanh said Vietnam’s participation in the ASEAN Economic Community will cause impacts on the nation’s trade balance from the second quarter.

Vietnam will also meet difficulties in access to official development assistance (ODA) sources, he noted, adding that this will impact on the country’s economy.

Efforts and policies should be promoted to stabilise the macro economy, thus helping enterprises develop in a stable and sustainable manner, Doanh said.

The State needs to tighten public investment projects and increase investments for those that bring real efficiency, he stressed.-VNA