The Hanoitimes - It is vital for Vietnam to further boost the development of private sector and public investment funds, in turn contributing to economic growth and creating the foundation for long-term development. Vietnam would speed up socio-economic recovery to realize the growth target of 6.5% for this year. Prime Minister Nguyen Xuan Phuc at the meeting. Photo: Quang Hieu Prime Minister Nguyen Xuan Phuc stressed the view at a monthly government meeting on March 2, which were attended by government leaders and representatives of ministries and sectors. Among measures to boost growth, the PM stressed the importance of enhancing greater efficiency in global integration to boost exports and attract high quality foreign direct investment (FDI). “The current situation presents huge opportunity for Vietnam to attract investment capital,” stressed Phuc, adding a favorable investment environment is a must to keep capital inflow from growing. In addition to the role of state-owned corporations, Phuc said it is vital for Vietnam to further boost the development of private sector and public investment funds, in turn contributing to economic growth and creating the foundation for long-term development. According to Phuc, disbursement of public funds is a major mission, for which the Government Office is tasked with inspecting efficiency in disbursing public funds and ODA-funded projects. Phuc stressed the importance of reviewing current supporting programs and proposing new ones to assist businesses and people affected by the pandemic. “Nurturing economic growth drivers and creating long-term revenue sources are the objective for monetary and fiscal policies,” said Phuc. The PM requested major economic hubs to play a greater role in aiding economic growth, especially Hanoi, Ho Chi Minh City, Vung Tau, Danang, and Can Tho. For economic sectors that are struggling with the Covid-19 impacts, including those in fields of …
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