Exports, investments remain Vietnam’s economic growth driver: Insiders

Exports and investments will continue driving Vietnam's economic growth in the remainder of this year, helping the nation realize the growth target of 6-6.5 per cent, according to insiders.
Exports, investments remain Vietnam’s economic growth driver: Insiders | Business | Vietnam+ (VietnamPlus)
Exports, investments remain Vietnam’s economic growth driver: Insiders. (Photo: VNA)

Although exports are facing an uphill journey to achieve the growth target of 6 per cent this year due to dwindling global demand, they are among the key drivers for economic expansion until the end of this year, Deputy Minister of Industry and Trade Do Thang Hai said.

In August, Vietnam shipped 32.37 billion USD worth of goods abroad, up 7.7 per cent year-on-year, marking the 4th consecutive month of growth, statistics from the General Statistics Office of Vietnam showed.

Robust growth was seen in the export of electronic products, computers and parts, telephones and parts, garments and textiles, and wood and wooden products.

Hai said that together with exports, investments will accelerate in the coming time.

Over 299 trillion VND (12.4 billion USD) of the public investment budget was disbursed during January – August to speed up economic growth, accounting for 42.5 per cent of the annual plan set by the Prime Minister, and making it the highest amount ever disbursed in eight months.

With the result, Deputy Minister of Planning and Investment Tran Quoc Phuong pinned his hope on achieving the disbursement target.

Meanwhile, a permanent member of the National Assembly’s Finance – Budget Committee Tran Van Lam said tourism, which made an impressive recovery, is also a locomotive for the country's economic growth.

Enterprises, businesses, and localities should exert more efforts to further boost tourism development, he said, elaborating that Vietnam’s GDP bottomed out at 3.72 per cent in the first half of this year, lagging behind the economic growth scenario of 7-8 per cent.

Besides the growth target, Lam also said it is a must to stabilize the macro-economy, control inflation, and ensure major balances.

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(Source: VNA)