Vietnam eyes tough road to fulfil 2017’s GDP growth target
Vietnam is facing tough challenges to fulfil its economic growth target for this year amidst the country is experiencing trade deficit and depending on foreign direct investment sector.
HCM City (VNA) – Vietnam is facing tough challengesto fulfil its economic growth target for this year amidst the country isexperiencing trade deficit and depending on foreign direct investment sector,held Dr. Vu Thanh Tu Anh, Fulbright University’s Director of Research.
To reach the set GDP growth of 6.7 percent in 2017 and curb inflationrate at 4 percent, the Vietnamese economy must post a growth rate of over 7percent for the rest of the year, he said at a seminar in Ho Chi Minh City onMay 15 to review the Vietnamese economy’s performance in the first four monthsof 2017.
Regarding strategy for boosting GDP growth, some expertssaid that in the short term, Vietnam should pump more oil and money to the economythrough increasing natural resources exploitation for export or providing morecurrency to the economy.
However, they said that the solutions has modest effectivenessand maintain risks of harming the economy as well as macro-economicinstability.
At the same time, representatives of some businesses heldthat the low GDP growth in the first four months of this year showed thecountry’s weakness in competitiveness and poor performance of key sectors ofthe economy.
According to the Government’s socio-economic report forApril, the macro-economy remained stable with many bright spots such asstandstill consumer price index, the continued recovery of sectors, and 7.4percent growth in industrial production, higher than 4.2 percent in the firstquarter.
Besides, export continued to grow 15.4 percent, focusing onthe export of processed products and farm produces, said the report, addingthat the country attracted 10.6 billion USD in FDI, a rise of 40.5 percent. Newly-establishedfirms also surged to 40,000 with total investment of 825 trillion VND, itsaid.-VNA
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Illustrative Image (Source: //www.baohaiquan.vn) 
