The economic situation of the first half of 2015 and relevant growth measures were discussed during a conference hosted by the Central Institute for Economic Management (CIEM) in Hanoi on July 29.
The economic situation of the first half of 2015 and relevant growth measures were discussed during a conference hosted by the Central Institute for Economic Management (CIEM) in Hanoi on July 29.
Accordingly, the industrial and construction sectors were the driving force behind economic growth. Earnings from exports hit 70.9 billion USD in the period, up 14.9 percent from 2014. The country also recorded a low inflation rate. Local demand and business operations have recovered since April, stimulating a GDP surge.
Underscoring the positive outlook of the economy through the end of the year, Nguyen Tu Anh, Deputy Head of the macro-economic policy section under the Central Institute for Economic Management (CIEM), noted the necessity of focusing on macro-economic stabilisation, mechanism overhaul and infrastructure and resources development.
Meanwhile, CIEM Director Nguyen Dinh Cung said economic restructuring has yet to reach expected results, reflected in the slow equitisation of State-run businesses and the handling of bad debts.
He added that the re-allocation of national resources should not be done by the State but rather be prompted by the market.
At the conference, economists proposed additional governmental assistance towards enterprises operating in the support industry while urging the acceleration of the economic restructuring process.
National resource distribution ought to be based on the reduction of public investment and enhancement of private involvement, they highlighted.-VNA
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The rate is 0.5 percent higher than the bank's projection last October.
After some turbulence in mid-2014, Vietnam's economic performance rebounded and year-end growth exceeded expectations.
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Prime Minister Nguyen Tan Dung chaired the Government’s regular meeting in Hanoi on April 25 to discuss socio-economic performance in the month and the first four months of 2015.
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The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
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Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
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