THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Viet Nam's economy to grow higher than other regional peers: IMF
VGP - Prime Minister Pham Minh Chinh on Friday hosted a reception for Head of the International Monetary Fund (IMF)'s Article IV Mission Paulo Medas who is on a working visit to Viet Nam.
Prime Minister Pham Minh Chinh (R) hosts a reception for Head of the International Monetary Fund (IMF)'s Article IV Mission Paulo Medas, Ha Noi, June 21, 2024 - Photo: VGP
To maintain fast and sustainable growth, Pham said, the Government targets to renew traditional growth drivers such as investment, export, and consumption, while promoting new growth drivers such as digital economy, circular economy, knowledge economy, and fostering the development of newly-emerging fields such as semiconductor chips, artificial intelligence, and hydrogen.
The nation is stepping up public investment, especially in transport infrastructure development, and implementing measures to reduce taxes, fees, charges, a long with other policies to support business development; striving to achieve the socio-economic development targets set for 2024 and in the 2021-2026 period, he emphasized.
The Vietnamese leader hailed the practical and effective cooperation between Viet Nam and the IMF, suggesting the financial institution continue to share and regularly update assessments and forecasts on global economic prospects and impacts on regional economies, and advise on macroeconomic management policies for Viet Nam.
He called on the IMF to strengthen technical support and training in areas of economic management, budget management, monetary policy, exchange rates, banking management, capital market development, and green finance as well as assist Viet Nam in human resource training to improve international integration capacity.
Paulo Medas, for his part, expressed his impressions on Viet Nam's socio-economic development outcomes, and spoke highly of the Vietnamese Government's efforts in managing the macro economy, controlling inflation, promoting growth, restructuring the banking system and supporting growth.
Viet Nam's economy is forecast to grow higher than other countries in the region, but still facing difficulties and challenges due to global factors and domestic issues such as population aging and climate change, he noted.
He recommended Viet Nam continue to improve institutions and create a transparent business environment, strengthen governance, prevent and combat corruption, and remove barriers to attract investment, especially in the fields of infrastructure development and renewable energy./.