Effective institutional reforms to help Vietnam GDP growth of 6.76%
Easing monetary and fiscal policies in combination with institutional reforms are the way for Vietnam to ensure sustainable and rapid economic growth amid global uncertainties.
Easing monetary and fiscal policies in combination with institutional reforms are the way for Vietnam to ensure sustainable and rapid economic growth amid global uncertainties.
Experts have said that Vietnam should further focus on administrative reform and improve the existing legislation framework to boost economic growth this year.
The reform for the business environment is required to bring benefits for local businesses and people in the coming time.
There could be a shift in trade movement as Vietnam’s trading advantage against China is diminished given the presence of the RCEP.
Mass support for the business community, including too ailing businesses, could lead to unnecessary debt burden for the economy.
If the world's GDP growth decreases by one percentage point, Vietnam's export expansion would fall by four percentage points, but the decline in 2020 seems to be even more serious.
The Covid-19 resurgence in July deals a further blow to the business community and the overall recovery efforts.
In the most optimistic scenario, Vietnam’s economy is predicted to expand 2.6% year-on-year, lower than the International Monetary Fund (IMF)'s forecast at 2.7%.
It would be more efficient if the government could waive and delay tax payments for one to three years, said a senior local economist.
The quality of state management and administrative procedures are the top concerns of the business community, not only the progress of cutting red tape, said an expert.