Hanoi (VNA)💃 – Deputy Minister of Planning and Investment Tran Quoc Phuong on September 9 pointed out measures to boost the Gross Domestic Product (GDP) growth and the disbursement of public investment capital.

Speaking at a regular press conference held by the Government Office, Phuong said that the GDP growth in the first six months of this year was 3.72%, a low level. “To achieve the yearly growth target of 6.5%, the scenarios all aim for a quite high growth rate in the rest of the year, for example, 8-9% or 7-8%. It’s a heavy task,” he said. Deputy Minister Phuong said that the Ministry of Planning and Investment has carefully analyzed and proposed targets from now until the end of the year to achieve results as good as possible. Accordingly, from the Government meeting reviewing the socioeconomic development in the first half of this year, the ministry proposed to the Government and the Prime Minister to issue Resolution 105, which sets out urgent solutions and fundamental and long-term measures for economic model transformation, green transition, circular economy, and digital transformation. He emphasised that in the process of implementing Resolution 105, the Government aims to prioritise promoting economic growth as the macro economy has been under quite good control since the beginning of the year. The CPI has gradually decreased and stayed at a low level, fiscal and monetary policies were implemented well. Therefore, the Government requires ministries, agencies, and localities to focus on tasks and solutions to promote growth. He said that when reviewing growth targets, there are three favourable points that can focus on promoting development. The recovery of the service sector is an advantage, especially tourism service which greatly contributes to economic growth. Another focus is given to the agricultural sector because of the positive results of the country’s agricultural product exports. The third driving force that needs attention is the domestic market. Phuong said that the Prime Minister has directed to stimulate the domestic market to develop more strongly, stimulate consumer demand and promote the movement “Vietnamese people prioritise using Vietnamese products.” Thereby, creating greater demand in domestic market will help businesses maintain and expand production while they are still facing difficulties in export markets. Also at the press conference, Deputy Minister Phuong said the disbursement of public investment capital in the first eight months of this year is the highest compared to the same period in the last five years. He said that the disbursement rate can reach 95% as the Prime Minister required. The Ministry of Finance reported that cumulative disbursement from the beginning of the year to July 31 reached 35.83% of the plan assigned by the Prime Minister. As of August 31, more than 299.44 trillion VND was disbursed, reaching 39.6% of target. The rate of the same period last year was just 39.15%./.