Gov’t and people work together to achieve growth target

Vietnam very much focused on achieving the twin targets of fighting COVID-19 and maintaining economic growth in the first nine months of 2020. Its efforts paid off, with nine-month GDP growth standing at 2.12%. Though the lowest rate Vietnam has posted for a decade, it nonetheless compares favourably to the economic woes the pandemic has inflicted upon many countries worldwide.

 

According to the Ministry of Planning and Investment, manufacturing and processing remains the driving force behind Vietnam’s economy, rebounding in October and growing 8.3% year-on-year.

The sector’s growth in particular and the country’s economic growth in general can be largely attributed to the successful containment of the second outbreak of COVID-19 in July.

In order to achieve the highest possible economic growth this year, experts have suggested concrete policies be devised to drive growth in the three economic pillars of investment, exports, and consumption.

The feasibility of this year’s growth target of 2 to 3% will largely be determined by external factors, the Ministry of Planning and Investment has said. However, with positive signs being seen in recent times, Vietnam has proved that it is capable of overcoming pressing challenges, with determination and effort from both the Government and the people./.

VNA