Econ
Stabilizing macro-economy for sustainable development
National Assembly Chairwoman Nguyen Thi Kim Ngan request the Government to stabilize macro-economy in the context of unexpected certainties surrounding the world economy.
"We have step up effort in realizing potential, stabilizing macro-economy, facilitating business and production," said Ngan at the fifth session of the 14th National Assembly on May 21.
"The move is aimed to minimize consequences from the world uncertainties, ensuring the country's sustainable economic development."
Additionally, Ngan urged related government agencies in utilizing natural resources efficiently, along with the environmental protection effort.
She also took note on the necessity of enhancing national security, defense, and foreign affairs, safeguarding national sovereignty. The entire political system has to raise awareness on anti-corruption, preventing wastes.
The fulfilment of socio-economic development targets in 2018 will lay the foundation for achieving targets of period 2016 - 2020, Ngan stressed.
Vietnam exceeded most of the government's expectations in 2017, with full-year growth of 6.8%. The country set the target for GDP growth rate at the minimum of 6.7% in 2018, requested the Prime Minister Nguyen Xuan Phuc at a regular government meeting on April 2.
Along with high economic growth, Vietnam's growth quality also witnessed improvement, in which productivity in 2017 increased 6%, according to the GSO.
The growth model is gradually shifting toward sustainability, from mining natural resources to manufacturing, processing and services. In 2018, the government target growth target at 6.7%, along with average inflation rate of 4%.
The economy also posted its strongest first-quarter growth in 10 years, expanding 7.38% annually in January-March, according to the General Statistics Office. Notably, agriculture saw a significant increase of more than 4%, doubling that of the same period last year.
Industry - construction are considered the driving force for economic growth with increasing rate of 11%. Additionally, the average consumer price index is kept under control at 2.82%.
Vietnam's economy is projected to grow by 6.6% this year and 6.5% in 2019, according to the International Monetary Fund (IMF)'s latest World Economic Outlook report on April 17.
The growth figure is around the percentage forecasted by the World Bank in its East Asia and Pacific Economic Update report released in April 12, albeit some potential to surprise on the upside in the short run, especially if the global recovery remains intact
Illustration photo.
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Additionally, Ngan urged related government agencies in utilizing natural resources efficiently, along with the environmental protection effort.
She also took note on the necessity of enhancing national security, defense, and foreign affairs, safeguarding national sovereignty. The entire political system has to raise awareness on anti-corruption, preventing wastes.
The fulfilment of socio-economic development targets in 2018 will lay the foundation for achieving targets of period 2016 - 2020, Ngan stressed.
Vietnam exceeded most of the government's expectations in 2017, with full-year growth of 6.8%. The country set the target for GDP growth rate at the minimum of 6.7% in 2018, requested the Prime Minister Nguyen Xuan Phuc at a regular government meeting on April 2.
Along with high economic growth, Vietnam's growth quality also witnessed improvement, in which productivity in 2017 increased 6%, according to the GSO.
The growth model is gradually shifting toward sustainability, from mining natural resources to manufacturing, processing and services. In 2018, the government target growth target at 6.7%, along with average inflation rate of 4%.
The economy also posted its strongest first-quarter growth in 10 years, expanding 7.38% annually in January-March, according to the General Statistics Office. Notably, agriculture saw a significant increase of more than 4%, doubling that of the same period last year.
Industry - construction are considered the driving force for economic growth with increasing rate of 11%. Additionally, the average consumer price index is kept under control at 2.82%.
Vietnam's economy is projected to grow by 6.6% this year and 6.5% in 2019, according to the International Monetary Fund (IMF)'s latest World Economic Outlook report on April 17.
The growth figure is around the percentage forecasted by the World Bank in its East Asia and Pacific Economic Update report released in April 12, albeit some potential to surprise on the upside in the short run, especially if the global recovery remains intact
