GSO leader suggests measures to promote economic growth

The goal of 6.5% growth that Vietnam has set for this year is a tough one as market demands have yet to rise and orders remain few, according to GSO General Director Nguyen Thi Huong (Photo: vneconomy.vn)

Hanoi (VNA) – All economic sectors should activelyimplement drastic and synchronous measures to promote growth and overcomedifficulties in the rest of the year, aiming to complete this year’s target of 6.5%in GDP growth, according to General Director of the General Statistics Office(GSO) Nguyen Thi Huong.

Huong said that although the GDP growth rate of 3.72%recorded in the first half of this year was lower than expectation, it is asuitable level in the context of the current global economic situation withcomplicated and unpredictable developments as well as fierce strategiccompetition among world powers.

She was of the view that the goal of 6.5% growth thatVietnam has set for this year is a tough one as market demands have yet torise and orders remain few.

The expert underlined that in order to promote economic growthin the rest of the year, it is necessary to maintain macro-economic stabilityand rein in inflation, along with close monitoring of the internationaleconomic and financial situation, while evaluating its impacts on themanufacturing sector in order to make timely response to support productionactivities. 

General Director of the General Statistics Office (GSO) Nguyen Thi Huong (Photo: VNA)

It is crucial to harmoniously coordinate micro-economicpolicies and ensure balance between inflation control and development, interestrate and exchange rate, as well as between balancing the budget and supportingpeople and businesses, and among public and investment, foreign directinvestment and private investment amid a slow increase in private investmentcompared to the remaining channels, she said.

Huong also stressed the need to speed up the disbursement ofpublic investment and remove obstacles during the implementation of publicinvestment plan in a timely manner, thus creating motivations for growth.Alongside, it is necessary to improve the business and investment environment,reducing administrative procedures to take advantage of opportunities from the shift of supply change, promoting domestic and foreign investment, raising productivity and reducing production and business cost, she added.

In addition, the GSO leader noted the necessity to effectively implementmeasures to stimulate demand in trade and services as well as tourism promotion programmesand solutions to diversify export markets and products.

She also advised businesses to seek new customers, strengthen connectivity between production and selling chains and optimise production activities./.

VNA