Vietnam strives for GDP growth of 6.5-7 percent annually during 2021-2025

Illustrative image (Source: VNA)

Hanoi (VNA) - The Ministry of Planning and Investment (MPI) is coordinatingwith relevant ministries, sectors and localities to study and build a programmeon economic recovery and development in association with improvement of theeconomy’s internal capacity and self-reliance by 2023, with a goal to achievean annual average GDP growth rate of 6.5-7 percent during 2021-2025.

According to the orientation of the Party and NationalAssembly by 2025, Vietnam will become a developing country which will have amodernity-oriented industry, surpass the lower-middle-income level, and achieve an annual averageGDP growth rate of about 6.5-7 percent.

To that end, the MPI said that the programme needs to comeup with specific solutions associated with accompanying resources, and inaccordance with the capacity of the economy, and the state budget balance.

The Government should have health-related solutions toproactively adapt safely, flexibly to and effectively control the COVID-19 pandemic,and issue policies that can help reduce production costs, facilitate product saleand distribution, an develop logistics.

According to Minister of Planning and Investment Nguyen ChiDung, the implementation of the programme should be long enough to be able tobuild and carry out measures to create a strong and solid foundation for the recoveryof businesses and the economy.

In the immediate future, Dung suggested the Government stepby step promote sustainable economic growth on the basis of overcoming the pandemic;improve the capacity of the health system and identify it as an urgent solutionfrom the beginning of 2022 to create a foundation for sustainable economic recoveryand development; maintaining macroeconomic stability; curb inflation; continueto implement reasonable expansionary fiscal and monetary policies; and ensurenational financial safety.

Ministries, sectors and localities need to perfectinstitutions, administrative reforms and business conditions to removedifficulties and obstacles in production and business, and at the same time improvethe efficiency of the government apparatus at all levels, restore and developthe tourism industry, stimulate domestic consumption, and enhance tradepromotion, he stated.

The minister also proposed the Government support therecovery of businesses in a number of priority industries by providing creditand financial support through interest rates, tax and fee exemptionư andreductionư; developing sustainable supply chains, especially in manufacturingand agriculture; and supporting digital transformation./.

VNA