Gov’t determined to fulfill 2023 socio-economic development targets

The request was made following positive signals recorded in the first three quarters this year despite impacts of global headwinds.

Specifically, the country's GDP growth accelerated to 5.33 percent in June-September period from 4.05 percent in the second quarter and 3.28 percent in the first quarter.

Industrial production grew by 4.57 percent in the third quarter and 1.65 percent in the first nine months against the same periods last year, reported the General Statistics Office (GSO).

Meanwhile, consumer price index increased by 2.89 percent in the third quarter compared to the previous quarter and 3.16 percent on year, said GSO.

Given the positive signals, Asian Development Bank Country Director for Viet Nam Shantanu Chakraborty emphasized that Viet Nam's economy remains resilient, and recovery is expected to pick up in the near term.

The international lender forecasted that the Southeast Asian country's economic growth is expected to reach 5.8 percent in 2023 and 6.0 percent in 2024, mainly due to weak external demand.

The Government also urged subordinate levels to step up administrative reform, including reduction of bussiness conditions, in association with digital transformation.

Apart from enacted tax and fee exemption policies for 2023, the Ministry of Finance was tasked to mull over and put forward necessary policies to support businesses to overcome this challenging time./.