After announcing the growth figures for the first half of the year, the General Statistics Office re-evaluated and updated its growth scenario for the second half, to bring it closer to reality. The forecast for the year as a whole is now 5-5.5%.
In such a context, the Government, ministries, agencies, and localities are all taking measures to create drivers for suitable economic growth.
In particular, public investment is being vigorously pushed forward to boost production.
Tourism growth, meanwhile, will create opportunities for many services to develop, raising domestic consumption and exports.
The Government has introduced a range of policies to stimulate consumption, such as reducing value-added tax rates from 10% to 8% to help stimulate demand.
Continual interest rate reductions by the State Bank of Vietnam over recent months will also gradually prove effective and help businesses recover over the closing months of the year.
According to a survey on production and business trends in the manufacturing and processing industry, 72.6% of respondent enterprises said they expect production and business in the third quarter will be better than in the second quarter or remain stable.
27.4%, meanwhile, believe production and business will be more difficult during the second half.
The recovery and improved performance of businesses will be an important driver of growth in the closing months of the year./.
