Vietnam has ‘golden opportunity’ to reactivate economy: official
Vietnam now has a “golden opportunity” to reactivate its economy earlier than many other countries, Minister-Chairman of the Government Office Mai Tien Dung said on June 2.
Minister-Chairman of the Government Office Mai Tien Dung speaks at the Government’s regular press conference on June 2 (Photo: VNA)
Hanoi (VNA) – Vietnam now has a “golden opportunity”to reactivate its economy earlier than many other countries, Minister-Chairmanof the Government Office Mai Tien Dung said on June 2.
At the Government’s regular press conference inHanoi, he cited the Government’s assessment that there were many bright spotsin the economy over the last five months.
Exports declined, but not strongly compared tothe same period last year, and a trade surplus of 1.9 billion USD was stillrecorded. Only tourism revenue and the number of international arrivalsexperienced sharp falls.
The macro-economy remains stable, the monetarypolicy stays flexible while the attraction of foreign capital along withbusinesses and people’s absorption of capital have also proved effective, Dungnoted.
He highlighted the Government’s viewpoint thatministries and sectors must push ahead with the COVID-19 fight and adamantlyprevent the return of this pandemic so as to focus every resource on productionrecovery and economic development.
The official also quoted the Ministry ofPlanning and Investment as reporting that 5,056 businesses resumed operationsin May, up 32.7 percent month on month. Total retail sales of goods and servicerevenue also grew 26.9 percent from April, the index of industrial production(IIP) 11.2 percent, and exports 5.2 percent.
These figures showed the economy has begun toreturn to normal after the social distancing period, he said.
However, the minister noted, the report alsopointed out that big difficulties still lie ahead.
Revenue from trading activities and serviceslast month soared by 26.9 percent against April but dropped 4.8 percent year onyear. The five-month retail sales of goods and service revenue shrank 3.9percent from the same period of 2019.
Meanwhile, the IIP in May still fell 3.1 percentfrom a year earlier, and the five-month figure rose by only 1 percent year onyear – the slowest pace in many years.
According to the General Statistics Office, asthe COVID-19 situation remains complex around the world, supply chains of inputmaterials will continue to be interrupted, and so will industrial production./.
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Minister-Chairman of the Government Office Mai Tien Dung speaks at the Government’s regular press conference on June 2 (Photo: VNA) 
