Goal of 6.5 percent growth rate – big challenge: GSO head
The Vietnamese economy continues to face many difficulties in the following quarters and the target of a 6.5 percent growth rate this year will be a great challenge as the global economy is still affected by the COVID-19 pandemic, head of the General Statistics Office (GSO) Nguyen Thi Huong has stated.
Hanoi (VNA) – The Vietnamese economy continues to face manydifficulties in the following quarters and the target of a 6.5 percent growthrate this year will be a great challenge as the global economy is stillaffected by the COVID-19 pandemic, head of the General Statistics Office (GSO)Nguyen Thi Huong has stated.
Talking to the Vietnam News Agency, Huong said that thecountry’s stable macro-economy and the economic growth of 4.58 percent in thefirst quarter of 2021, higher than the 3.68 percent of the same period lastyear, are favourable conditions for production and business.
However, the resurgence of the pandemic in late January has posedchallenges for the management and direction of economic development and forensuring social welfare.
Right from the beginning of this year, Huong went on, theGovernment and the Prime Minister instructed ministries, sectors and localitiesto carry out measures synchronously, flexibly and effectively to achieve thedual targets of fighting the pandemic and stepping up economic recovery anddevelopment.
The number of new businesses in Q1 reduced by 1.4 percentyear-on-year, but their total registered capital rose by 27.5 percent. Thedisbursement of foreign investment increased by an estimated 6.5 percentyear-on-year, and the average CPI rose by 0.29 percent – the lowest for Q1 within20 years, Huong said.
Head of the General Statistics Office (GSO) Nguyen Thi Huong (Photo: VNA)
To curb inflation, she recommended authorized agencies tokeep a close watch on price developments of commodities inside and outside thecountry. She stressed that the adjustment of prices of commodities managed bythe State should be made at a right time and at an appropriate level.
Huong expressed her belief that the Government’s goal ofcurbing inflation at around 4 percent this year is feasible.
To overcome difficulties, the business community was advisedto take initiative in seeking new opportunities, ideas, orientations andbusiness partners.
The State should continue issuing policies and effectivesupport packages for businesses and consider reducing corporate income tax forall enterprises until the end of this year.
To achieve a 6.5 percent growth rate, it is important towell control the pandemic, stabilise economic development and maintain theagricultural sector’s growth pace, Huong stated, adding that Vietnam shouldbring into full play opportunities brought about by free trade agreements tospeed up import-export activities and improve the competitiveness and values ofexported products.
Ministries and sectors should speed up public investmentdisbursement and pay more attention to developing e-commerce, she added./.
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Illustrative image (Photo: VNA) 
Head of the General Statistics Office (GSO) Nguyen Thi Huong (Photo: VNA) 
