Illustrative image (Photo: VNA) Hanoi (VNA) - Vietnam’s GDP in the third and fourthquarters will grow better than it did in the first half of the year as the countrystill has ample space for growth, a press conference in Hanoi on June 29 heard.
The General Statistics Office (GSO) reported that nationalGDP in the first half grew only 1.81 percent - the lowest first-half rate duringthe 2011-2020 period.
Given the global economic downturn, however, Vietnam remainssomething of a bright spot, it said.
Nguyen Thi Huong, GSO Deputy Director General, pointedto positive signs in agriculture despite the sector being affected by drought, saltwaterintrusion, COVID-19, and African swine fever, with rice output in the autumn-springcrop increasing year-on-year.
Industry gave momentum to the national economy, she said,rising 2.71 percent, with processing and manufacturing up 4.96 percent.
Though there were only 62,000 firms established in thefirst half, down 7.3 percent year-on-year, the number of new enterprises stood at13,700 in June alone, up 27.9 percent from the previous month.
As at June 20, 15.7 billion USD in FDI had been pouredinto Vietnam, down 15.1 percent year-on-year.
Export value exceeded 121.2 billion USD, down 1.1 percentyear-on year. The country ran a trade surplus of 4 billion USD.
Duong Manh Hung, Directorof the National Account System Department under the GSO, said that to reach the growth target of 6.8 percent, the pace must be over 10 percent each quarter, which is a difficult and even impossibletask as the COVID-19 pandemic is still developing and affecting global trade.
The Government, therefore, has proposedthe National Assembly adjust the growth target, he said.
However, the official stressed thatVietnam still has ample space for growth in public investment.
Pham Dinh Thuy, Director of the GSO’sIndustrial Statistics Department, further explained that the disbursement of publicinvestment would stimulate the national economy, saying if public investment rises1 percent, it would contribute 0.06 percentage points to GDP.
Once 700 trillion VND (30.15 millionUSD) worth of total public investment is disbursed this year, 0.42 percentage pointswill be added to GDP, he continued.
Thuy also suggested businesses seekpartners and promptly remove difficulties, and that the Government and the NA continuewith tax and fee reductions.
Both the Government and businessesneed to study solutions regarding institutions, human resources, procedures, productiontechnologies, and business strategies to optimise and adapt to regulations in theEU-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement,he said./.
VNA
