A series of year-end stimulus programmes is expected to support Vietnam’s economy to achieve the GDP growth target of over 7% this year.

Constructing a high-speed railway from the North to the South will create momentum for economic growth, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.

Despite headwinds, Vietnam has managed to show strong performance in the first nine months of this year, posting a gross domestic product (GDP) growth of 4.24%, said Deputy Minister of Planning and Investment Tran Quoc Phuong at a seminar in Hanoi on October 5.

Representatives of ministries and sectors highlighted measures to achieve the GDP growth target for 2023 at the Government’s regular press briefing on April 3.

Increasing labour productivity is an important factor to promote economic growth in the long run, and is a prerequisite for Vietnam to narrow its development gap with other regional countries and fulfill the goal of becoming a developed country with high income by 2045, said Deputy Minister of Planning and Investment Tran Quoc Phuong.

The northern province of Quang Ninh is willing to hold open discussions with Japanese enterprises and create all possible conditions for them in terms of administrative procedures, land clearance, and human resources, Secretary of the provincial Party Committee Nguyen Xuan Ky has affirmed.

The economic restructuring plan in the 2021-2025 period aims to create changes in the growth model towards higher productivity, quality, competitiveness and the adaption capacity of the economy, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.

The disbursement of public investment in the first seven months of 2021 reached 36 percent, 4 percent lower than the figure in the same period last year, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.

Vietnam needs a high political determination to achieve 6.5 percent in GDP growth rate in 2021, Deputy Minister of Planning and Investment Tran Quoc Phuong has said.

Vietnam is giving priority to developing the domestic market as the risk of COVID-19 gradually falls, Deputy Minister of Planning and Investment Tran Quoc Phuong said at a press conference after the regular Government meeting on May 5.