4-7-2023 (HANOI) Vietnam has estimated that its gross domestic product (GDP) growth for this year will reach a maximum of 6.5 percent, according to local media reports on Tuesday. The Ministry of Planning and Investment announced two scenarios for Vietnam’s GDP growth in 2023.
Under the first scenario, the country’s GDP growth will be 6 percent, while the second scenario anticipates growth of 6.5 percent. To achieve the 6.5 percent growth target, the ministry emphasized the need for a significant boost in the third and fourth quarters, with growth rates of 7.4 percent and 10.3 percent, respectively.
Minister of Planning and Investment Nguyen Chi Dung called for increased efforts from ministries, agencies, and localities to achieve these goals. He stressed the importance of streamlining administrative procedures and improving the business investment environment to facilitate economic growth.
The ministry also urged other government entities to proactively address challenges and promote key drivers for domestic consumption, investment, and exports. It highlighted the need to remove barriers hindering growth and create an enabling environment for businesses.
In the first half of this year, Vietnam recorded a modest year-on-year GDP growth of 3.72 percent, which is the second-lowest growth rate for the same period between 2011 and 2023.
