Addressing the event, Nguyen Hong Minh, director of CIEM, emphasised that with priorities given to accelerating economic growth to ensure macroeconomic stability and curb inflation, the country has obtained impressive socio-economic achievements in the first six-month period.

Accordingly, the national economy expanded 6.42% and exports leapt 14.5%, while foreign direct investment (FDI) witnessed a considerable rise in both newly-registered capital and disbursement.

Most notably, he stressed, the country kept restructuring the economy, improving the business climate, and increasing labour productivity along with priority policies for digital transformation and green transformation, as well as bringing into full play incentives of free trade agreements (FTAs).

Taking the floor, Nguyen Anh Duong, head of CIEM’s General Research Department, said the country’s economic growth can be considered relatively positive compared to others in the region, pointing out that real Vietnamese GDP growth has exceeded its potential over four consecutive quarters.

Based on the economic gains in the first half, Duong and his colleagues in the research team revised two scenarios for the national economy this year.

In the first scenario, the country’s GDP growth is forecast to reach 6.55% this year with exports rising by 9.54% from the previous year. The average consumer price index (CPI) is anticipated to edge up by 4.31% compared to 2023 and the country is likely to rack up a trade surplus of US$5.7 billion.

The target would be achieved if global developments are not too much different from initial international projections and Vietnam maintains its growth momentum in the second half of the year.

In the second scenario, Vietnamese GDP growth is projected to stand at 6.95% with exports increasing by 11.64% compared to 2023. The average CPI for the whole year would inch up by 4.12% compared to 2023 and the country would produce a trade surplus of US$7.3 billion.

This target would be realized if the global economy sees more positive changes, including rapid economic rebound, and increase in investment in Southeast Asian countries such as Vietnam, and the recovery in supply chains.

Meanwhile, Vietnam is supposed to effectively implement economic reform and management solutions, concerning public investment attraction/disbursement, labour productivity, business environment and competitiveness.

To achieve the set target in the remaining months of the year, CIEM economists recommended improving growth quality and innovation capacity, adapting to digital transformation and green transformation, and perfecting the legal framework for new economic models such as the circular economy, digital economy, sharing economy, and creative economy.

Moreover, the Government is required to devise proper macroeconomic policy management solutions, strictly monitor inflation, sustain fiscal space to respond to external shocks, and effectively implement FTAs, along with facilitating business operations.

Source: VOV