GDP growth in Q1 estimated at 4.48%

Vietnam’s economic growth in the first quarter is estimated at 4.48%, higher than the 3.68% posted in the first quarter of last year. However, there is still much to be done to reach the annual target of 6.5%, according to insiders.

The General Statistics Office on March 29 revealed bright prospects for Vietnam’s economy in the first quarter of this year.

The industry sector grew 6.3 percent. FDI disbursement increased 6.5% year-on-year, while the CPI inched up 0.29 percent, the lowest rate for 20 years.

Still, according to the Ministry of Planning and Investment, Vietnam’s GDP structure reveals that certain industries are struggling. More drastic measures should therefore be implemented to reach the annual target of 6-6.5%.

In order to meet the annual target, according to insiders, Vietnam must control the pandemic well and deploy a large-scale vaccination programme, while ensuring growth momentum in the agriculture and industry sectors.

They also advise the country to take advantage of free trade agreement signed recently to improve the export value of key products. The Government is also urged to speed up public investment disbursement./.