After taking a positive loose monetary policy and the recovery of the tourism industry, the growth rate of GDP in the third quarter of Vietnam has accelerated compared with the previous quarter.EssenceScholars of interviewees believe that the Vietnamese government should increase public investment to stimulate growth, while seizing opportunities to promote reform to strengthen competitiveness.
Vietnam Statistics General Administration on Friday (September 29) stated in the report that the GDP of Vietnam (GDP) in Vietnam from July to September increased by 5.33%year -on -year, faster than 4.05%of the second quarter.
However, this data is still lower than the growth rate of 6%to 7%before the popularity of crown disease, and it is far below the growth rate of 13.71%in the same period of 2022. At that timeA rebound appeared after the big popularity.
Vietnam's original economic growth target this year was 6.50%, which was lower than 8.02%last year.In the first nine months of this year, the Vietnamese economy only achieved a growth rate of only 4.2%, so the growth rate of 10.6%in the fourth quarter was expected to achieve the 6.0%growth target after adjustment.
Hu Guojun, senior lecturer of the Department of Finance and Accounting, the University of Bristol, and Li Honghe, a senior researcher at the Erv Isa East South Asian Research Institute in Singapore, said in an interview with Lianhe Morning Post.It is very challenging.
The International Monetary Fund and the World Bank predict that Vietnam's economic growth this year is 4.7%.The Asian Development Bank earlier reduced this number from 6.5%predicted in April to 5.8%.
The Vietnamese government has also adjusted its goals.The government's official website issued a statement during the meeting on Saturday (30th), when the Prime Minister Fan Mingzheng presided over the meeting that 6.0%of GDP growth was the "best situation" of the cabinet's considers, and the worst situation was 5%.
Full demand for export products cannot expand production
In the first half of this year, the Bank of Vietnam lowered policy interest rates four times to stimulate economic growth. However, the world's demand for major export products such as electronic products, textiles and shoe in Vietnam in Vietnam was weak, which caused enterprises to not expand production.
Vietnam's exports ended in September for six consecutive months, and resumed growth.In the first nine months of this year, Vietnam's total export value was US $ 259.67 billion (about S $ 356.16 billion), a decrease of 8.2%.
Vietnam Statistics General Administration said in the report that the latest growth data indicates that the economic "trend is good" and the manufacturing industry is recovering.
Standard Chartered Report: The prospect of foreign investment in the initial stage is still unclear
However, in a report from Standard Chartered Bank last week, the Vietnamese economic recovery is still in a preliminary stage, and the manufacturing industry may continue to slump for a period of time, and the improvement of foreign investment prospects is unclear.
Faced with the uncertainty brought by the weak global demand, Hu Guojun believes that the Vietnamese government should simplify bureaucratic procedures, reduce the burden on business, and reduce the cost of corporate costs and enhance competitiveness.At the same time, manufacturing enterprises should embark on the road of innovation.
He said: "Vietnamese manufacturing enterprises should optimize efficiency, reduce expenses, and produce higher -value products; embrace green and digital transformation, seek to attract high -tech companies to invest in Vietnam, promote semiconductor manufacturing, artificial intelligence and life sciencesExpansion of the industry. "
Li Honghe believes that Vietnam must increase public investment to support growth, which is one of the three pillars of the Vietnamese economy.If successful, Vietnam is still expected to achieve economic growth from 5.0%to 5.5%this year.
Vietnamese Prime Minister Fan Mingzheng called on all walks of life to increase spending, stimulate economic activities, and strive to achieve the goal of growth.According to the government's official website, Fan Mingzheng has ordered the ministries and commissions to accelerate the payment of public investment in accordance with the advice of the International Monetary Fund.
