Hanoi (VNA) – Vietnam’s economic growth in the second quarter of 2024 and June are likely to reach 6.2% and 6% respectively as set by the Government, said Nguyen Duc Tam, Director of the Department for National Economic Issues under the Ministry of Planning and Investment (MPI).
According to Tam, among important motivations for the economic growth this year is the strong allocation of resources for major projects, especially in transport and energy infrastructure.
He noted that to date, about 2,000km of expressway have been put into operation. The figure is expected to reach about 3,000km in 2025.
Besides, progress has been seen in the completion of institutions, administrative reform, and the improvement of business and investment environments, the official said.
At the same time, planning activities have basically been completed, he said, adding that the Prime Minister has issued all six regional master plans, and organised many conferences to announce the master plans in association with investment promotion, providing opportunities for the re-organisation of the country’s development spaces and creating momentum for faster and more effective growth.
According to the official, Vietnam continues to be an attractive destination for foreign investors. In the first five months of this year, about 8.25 billion USD of foreign direct investment was disbursed, up 7.8% over the same period last year, while the newly-registered capital amount was over 7.9 billion USD, a surge of 50.8% year on year, he said./.
Petrovietnam maintains growth amid oil price volatility
The Vietnam Oil and Gas Group (Petrovietnam) has achieved financial targets exceeding planned levels by between 34% and 92% in the first five months despite facing significant drops in its core product prices. This is attributable to its effective management of the market fluctuations.
