THIS YEAR'S GDP GROWTH TARGET REMAINS UNCHANGED: PM

The Government agreed that the GDP growth target for this year remains unchanged, said Prime Minister Pham Minh Chinh.
Concluding the Cabinet meeting on Thursday, Pham said the Government agreed with the two economic growth scenarios envisaged by the Ministry of Planning and Investment.

In the first scenario, to achieve this year's GDP growth goal of 6 percent, the economy needs to expand 6.2 percent and 6.5 percent in the third and the fourth quarters.

In the second scenario, to achieve the GDP growth rate of 6.5% in 2021, the economy needs to grow 7 percent and 7.5 percent in the third and the last quarters.

Both scenarios can only be realized with great endeavor, feasible and effective solutions, PM Pham emphasized.

Pham urged inferior levels to focus on COVID-19 prevention and combat nationwide, acquire vaccines as soon as possible, accelerate transfer of vaccine production technology, and effectively implement the national vaccination program.

He ordered authorities to diversify export markets, beef up attraction of foreign investment in processing and manufacturing, and finalize the development of the 8th edition of national power development plan.

The Government will convene a thematic conference to seek ways to mobilize resources, remove difficulties faced by businesses, foster public-private partnership across fields, especially infrastructure development, and lift barriers in the implementation of projects funded by ODA, said Pham.

Despite the fourth wave of COVID-19 resurgence since April 27, the Vietnamese economy expanded 5.64 percent in the first six months, according to the General Statistics Office.

Total foreign investment capital inflow in the first half reached nearly US$15.27 billion, down 2.6 percent against the same period last year while the disbursed volume was estimated at US$9.24 billion, up 6.8 percent on-year.

The country’s export value rose by 28.4 percent to US$157.63 billion, in which foreign-invested sector accounted for 74.1 percent while import turnover was estimated at US$159.1 billion, up 36.1 percent from the same period last year.

Source: VGP