Production improvement needed to fulfill GDP growth target

Hanoi (VNA) – Deputies to the 14th National Assembly have agreed that the Government should continue creating favourable conditions for investors and boosting production, especially in industry and services, to achieve the tough set GDP growth target of 6.7 percent for 2017.

Speaking on the sidelines of the ongoing NA third session on May 23, deputy Do Manh Hung from Thai Nguyen province pointed out that economic growth has slowed down, while several problems like investment efficiency and bad debt remained unsolved.

So, the GDP target can only be achieved when the whole political system, especially the business community, makes concerted effort, he noted.

He suggested that the Government should promptly tackle any arising problems facing investors as a way to deliver its pledge of creating a favourable investment environment.

Meanwhile, Do Van Sinh, who represents Quang Tri province, said the Government should pay greater attention to boosting services and industry and tackling banks’ bad debts.

Sharing Sinh’s opinion, Hoang Van Cuong of Hanoi said that the GDP goal poses a real challenge to the economy, as the new growth model, which has no longer relied on exploiting natural resources and investment capital, would generate a slower growth rate for the economy.

Deputy Vu Tien Loc from Thai Binh province stressed that speeding up the institutional reform to absorb capital in society and facilitate fair competition in the economy would support a sustainable GDP growth.

Loc asserted that mobilizing all resources for the institutional reform and creating a smooth environment for enterprises in operation is the key solution.

In the short term, the Government should strengthen public investment and encourage businesses to expand production, while designing specific plans of action and roadmaps to complete targets in improving the business environment and garnering investment resources in and outside the country. -VNA