Business

Economic drivers have good growth opportunities next year: official

All the three economic growth drivers of investment, export, and consumption have good opportunities in 2024, Deputy Minister of Planning and Investment Tran Quoc Phuong told the Government’s regular press conference on December 6.
Economic drivers have good growth opportunities next year: official ảnh 1The National Assembly targets a growth rate of 6 - 6.5% for 2024. (Photo: VNA)
Hanoi (VNA) – All thethree economic growth drivers of investment, export, and consumption have good opportunities in 2024, Deputy Minister of Planning andInvestment Tran Quoc Phuong told the Government’s regular press conference onDecember 6.

He said that at its recent sixthsession, the National Assembly (NA) adopted a resolution on the socio-economicdevelopment plan for 2024. One of the most important targets is a growth rateof 6 - 6.5%.

Previously, keeping macro-economicstability was given higher priority than other tasks, but for 2024, the NAdecided to focus more on promoting economic growth ahead of macro-economicstability, reflecting the determination to accelerate growth and make up forthe declines caused by impacts of the COVID-19 pandemic and the global economyin 2023, Phuong noted.

Talking about opportunities for thethree growth drivers next year, he said export has been recovering with betterperformance recorded over months and its momentum gradually regained. Total retailsales of goods and consumer service revenue have increased by over 9% andapproximated double-digit growth.

Economic drivers have good growth opportunities next year: official ảnh 2The Government’s regular press conference on December 6 (Photo: VNA)
Meanwhile, opportunities for stateinvestment, foreign direct investment (FDI), and private investment in 2024 are“relatively good”, especially FDI attraction thanks to results of economic diplomacythis year, the official noted, highlighting chances of FDI inflows into suchnew areas as renewable energy, semiconductor manufacturing, and others servingsocio-economic development.

Interms of private investment, despite numerous difficulties, capital, corporatebond, and stock markets are expected to show “relatively good” recoverycapacity next year, he went on.

Thedeputy minister said a growth rate of 6 - 6.5%, equivalent to the averagetarget for 2021 - 2025, is a difficult target since it is still unable topredict all difficulties awaiting in 2024. However, with the proposed measuresin Resolution No 01 that is being drafted and expected to be issued by theGovernment at the start of 2024, the ministry hopes to reach the set target./.
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#economic growth #investment #export #consumption #National Assembly #growth drivers #FDI #private investment #retail sales #updated Vietnam news #Vietnamplus #Vietnam News Agency
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