PM seeks new measures to achieve highest growth possible
Prime Minister Nguyen Xuan Phuc asked for more measures to boost investment, export, and consumption to achieve the highest growth possible in 2020 at a national teleconference between the Government and localities on July 2.
Hanoi (VNA) - Prime Minister Nguyen Xuan Phuc asked for more measures to boostinvestment, export, and consumption to achieve the highest growth possible in2020 at a national teleconference between the Government and localities on July2.
He said that nocommunity transmission of COVID-19 being reported in Vietnam for more than twomonths is a great success for the country’s Party, State, and political system,and has earned plaudits from the public and the international community.
However, he noted,the pandemic has had a huge impact on socio-economic matters, presenting urgentrequirements for economic recovery with a motto of taking full advantage ofopportunities when the disease is brought under control.
Due to the impactof the disease, the country’s GDP growth in the second quarter hit a 30-year lowof 0.36 percent, for a first-half figure of 1.81 percent. Twelve out of thecountry’s 63 cities and provinces posted negative growth.
The PM, therefore,stressed the importance of fighting the disease while at the same time takingaction to foster economic growth.
It is necessary tocarry out fiscal and monetary policies flexibly to ensure growth, for the generalinterest of the economy and for employment and incomes, he added.
Emphasising lowpublic disbursement in the first half, he said that if any locality or sectorcannot disburse public investment on schedule, he has the right to transfer thecapital to another.
The effectivedisbursement of 700 trillion VND (30.36 billion USD) worth of public investmentwill serve as short-term stimulus and drive growth over the remaining months of2020 and the opening months of 2021, he said.
The PM alsostressed the necessity for more measures to expand markets and promote domesticconsumption and for greater attention to be paid to perfecting laws, cuttingadministrative procedures, and developing the night-time economy, the digitaleconomy, and the urban economy, among others./.
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Prime Minister Nguyen Xuan Phuc (Photo: VNA) 
