(VOVWORLD) - Vietnam’s economic growth last year was 2.5 times higher than the inflation rate. Vietnam has strengthened its economic status in international trade. These are the foundations for Vietnam to realize its GPD goal of 6.5% and build a dynamic, sustainable economy.
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Vietnam's economic growth last year reached 8.02%, the highest in the past 12 years. Import and export turnover exceeded 730 billion USD, with 36 groups of goods surpassing 1 billion USD. Seafood exports reached 10 billion USD for the first time, making Vietnam the 3rd largest seafood exporter in the world.
The trade surplus was 11.2 billion USD, helping to ease exchange rate pressure on the foreign currency market. Foreign direct investment in Vietnam was a bright spot in the context of declining international trade and investment. Disbursement of foreign direct investment last year was nearly 22.4 billion USD, up 13.5%.
Vietnam aims to achieve a growth of 6.5% this year. Former Director General of the General Statistics Office Dr. Nguyen Bich Lam said businesses’ dynamism and determination to overcome difficulties, the government’s breakthrough mindset and flexible actions, and the National Assembly’s effectiveness in promulgating guidelines and policies will promote Vietnam's economic development.
Dr. Lam said the government should promptly remove difficulties and obstacles in administrative policies and procedures, eliminate unreasonable regulations in order to save input costs for businesses, create a favorable, fair, and open business environment, and ensure sufficient supply to meet increasing demand.
The Ministry of Finance and the State Bank should implement flexible fiscal and monetary policies, maintain macro stability, and stabilize the foreign exchange and money market. It is necessary to find ways to help importers avoid exchange rate fluctuations and continue to apply fiscal and monetary policies and tax and interest rate incentives for businesses, said Dr. Lam
He recommended that the Ministry of Industry and Trade help businesses keep up with market information in order to compete and maintain market share for Vietnamese products.
Dr. Lam advised businesses to update information and increase production to meet market demand. They should change their approach to take full use of FTAs and modernize production methods to meet international standards.