Business

Government’s meeting: GDP growth to aim above 6.7 percent

The Vietnamese Government is striving towards a higher economic growth than the 6.7 percent rate set by the National Assembly, said Prime Minister Nguyen Xuan Phuc.
Government’s meeting: GDP growth to aim above 6.7 percent ảnh 1Prime Minister Nguyen Xuan Phuc (standing) at the Government meeting (Photo: VNA)

Hanoi (VNA) – The Vietnamese Government is striving towards a highereconomic growth than the 6.7 percent rate set by the National Assembly, saidPrime Minister Nguyen Xuan Phuc.

At the monthly Government meeting in Hanoion October 1, Prime Minister Phuc directed the agricultural sector to channel itsfocus on processing, exports, and the building of value chains.

The Ministry of Culture, Sports, and Tourism was asked to branch outhigh-quality tourism and improve the quality of service. Meanwhile, theMinistry of Planning and Investment must work to accelerate the disbursement ofpublic investment.

As the economic restructuring aims to reduce dependence on foreign capital, theGovernment leader stressed that policies must be mapped out to develop domesticenterprises.

Furthermore, he asked the Ministry of Planning and Investment to enhanceconnection between foreign direct investment (FDI) firms and local firms.

Underlining the significance of completing mechanisms and improving thebusiness climate, PM Phuc asked competent agencies to accomplish projects tosubmit to the National Assembly in the upcoming meeting while cuttingunnecessary business conditions for investors.

He required ministries and sectors to make meticulous preparations for the eighthsession of the 12th Communist Party of Vietnam Central Committee, as well asthe upcoming the National Assembly meeting. –VNA  
VNA
#Vietnamese Government #higher economic growth #6.7 percent rate #National Assembly #Prime Minister Nguyen Xuan Phuc #economic restructuring #Vietnam News Agency #Vietnamplus
Follow VietnamPlus

Related News

Vietnam keeps up strong growth in first half: ADB

Vietnam keeps up strong growth in first half: ADB

The Vietnamese economy continued its strong performance in the first half of 2018, although external and domestic challenges could affect the country’s growth outlook for this year and next year, the Asian Development Bank (ADB) said in a new report.
Nine-month GDP growth highest in eight years

Nine-month GDP growth highest in eight years

The GDP growth rate for the January-September period was 6.98 percent, the highest for the same period over the past eight years, the General Statistics Office announced on September 28.

See more

VinFast showcases its complete range of electric vehicles at the BIMS 2024 exhibition. (Photo: VNA)

Vietnamese products rise from villages to global markets

Many Vietnamese brands like VinFast, Hoa Phat, Viettel, Vinamilk, and GrowMax have steadily increased their market share at home, expanded their export markets, and built production and value chains, all while contributing to the country’s economic growth.

At the forum (Photo: baoquocte.vn)

Vietnam – a land of opportunities for Nordic firms

Ole Linnet Juul, Senior Chief Advisor of the Confederation of Danish Industry, commended Vietnam’s recent strides, particularly in institutional reforms, technological advancements, innovation, and digital transformation.

Apartments building in HCM City. 2025 is predicted to be a crucial foundation year for the real estate sector in HCM City. (Photo baoxaydung.com.vn)

HCM City real-estate market predicted to recover this year

2025 will serve as a crucial foundation year for the real estate sector in Ho Chi Minh City, marking the path towards a full recovery by 2026 after facing challenges caused by COVID-19 and economic recession, experts predicted.

The Commission for Management of State Capital at Enterprises transfers the rights and responsibilities of the agency representing state capital ownership to the Ministry of Finance. (Photo: VNA)

State capital ownership rights transferred to Ministry of Finance

After merging with the Ministry of Planning and Investment and receiving 18 state-owned groups and corporations from the Commission for Management of State Capital at Enterprises (CMSC), the Ministry of Finance acts as the 'backbone' of the economy, managing all financial resources from public investment and resources from these groups and corporations, to foreign loans.

At the ceremony on February 28 to officially transfer MobiFone Telecommunications Corporation from the commission to the Ministry of Public Security. (Photo: VNA)

State-owned MobiFone now under Ministry of Public Security

MobiFone's profit before tax in 2024 was estimated at over 2 trillion VND (78.23 million USD), exceeding its annual target by 20.6%. The corporation's digital services sector has witnessed high growth rates across many products and services, including MobiFone Meet (1,050%), Cloud (312%), mobiAgri (49%), and MobiFone Invoice (58%).

Investors monitor the development of the stock market at MB Securities JSC (Photo: VNA)

Vietnam pushes to elevate stock market

Vietnam will create favourable conditions for the stock market to develop more breakthrough and innovative products, enhancing the quality of market offerings and attracting more investors.

The economy's total credits reach over 15.6 quadrillion VND (610.3 billion USD) in 2024 (Photo: VNA)

Banking sector urged to expand credits to support economic growth

SBV Deputy Governor Dao Minh Tu stated that an average credit growth of over 2% would contribute to a 1% increase in the country's GDP. Therefore, for 2025, the central bank aims for a credit growth target of around 16% to contribute to the economic growth target of 8%.

Garment production at May 10 Corporation (Photo: VNA)

Vietnam emerges as key hub for int’l textile manufacturers

Vietnam’s textile sector, comprising around 7,000 companies and over 3 million workers, dedicates 80% of its production capacity to exports and 20% to domestic consumption. The industry’s growth is supported by a well-developed logistics network, a skilled workforce, and a stable political environment.

Apartment buildings along Metro Line 1 and Vo Nguyen Giap Boulevard, Thu Duc city. (Photo: VNA)

Metro Line 1 prompts investments in HCM City's eastern apartment market

The newly operational Metro Line 1 is a key driver for real estate projects, particularly in retail and office spaces. The commercial real estate sector typically lags behind the residential market. As communities grow and stabilise, demand for commercial spaces rises accordingly.