Vietnam posts a GDP growth of 4.24% in the first nine months of 2023 (Photo: VNA) The official held that growth promotion, macro-economicstability, strong disbursement of public investment capital and achievements inexternal relations are among spotlights of the Vietnamese economy so far thisyear, which create a driving force for the economic growth for the whole year.
Phan Duc Hieu, permanent member of the National Assembly (NA)’s Economic Committee, shared the view and highlighted the efforts made by the NA, Government, businessesand people.
He said that the NA and Government have issued many policiesto support businesses and people, including tax reduction, exemption, andextension of financial obligations, which is worth about 150 trillion VND (6.14billion USD).
Lauding Vietnam’s active policy response, Shantanu Chakraborty, AsianDevelopment Bank (ADB)’s Country Director in Vietnam, said that the Vietnamese Governmenthas moved in the right direction and in a timely manner.
Dr. Vu Minh Khuong, a lecturer from Lee Kuan YewSchool of Public Policy of Singapore said that the US President’s visit to Vietnam has also brought about new motivations for new sectors, including semiconductor production, which is a good opportunity for Vietnam.
Participants at the seminar (Photo: VNA) In report released in September, the ADB predicted thatVietnam will continue to take the lead in Southeast Asia with growth of 5.8% in2023, lower than that of last year but still a good figure. Chakraborty heldthat the goal of 6% in growth rate set by the Vietnamese Government isreachable.
Vietnam has shown a positive pace in investment and publicspending, while the State Bank of Vietnam has well performed its role incontrolling inflation, he said, underscoring that comparing to other regionalcountries, Vietnam has achieved encouraging achievements.
The ADB Country Director emphasised that Vietnam can doeven better, for example in public investment. The country can strengthen fiscalpolicies to promote domestic demands and encourage economic activities, whilefocusing more on private economy development, he advised.
Chakraborty and economic experts also advised Vietnam to mobilise more resourcesfrom the private sector for infrastructure development, promoting the domesticconsumer market, creating favourable conditions for people to improve income,and at the same time speeding up public investment disbursement, flexibly managingfiscal and monetary policies, and restructuring the labour market./.
Chakraborty and economic experts also advised Vietnam to mobilise more resourcesfrom the private sector for infrastructure development, promoting the domesticconsumer market, creating favourable conditions for people to improve income,and at the same time speeding up public investment disbursement, flexibly managingfiscal and monetary policies, and restructuring the labour market./.
VNA
