Vietnam stays firm on growth momentum

(VOVWORLD) -Vietnam’s economic growth rate in Q3 was 6.88%, higher than the previous quarter with rapid increase in retail and whole sales, according to a report by the Vietnam Institute for Economic and Policy Research. 
Vietnam stays firm on growth momentum - ảnh 1

The 2018 Quarterly Report (III) – Independent Assessment of Vietnam’s Macroeconomic Policies was unveiled on Wednesday.   It says Q3’s industrial production index increase of 10.7% also sends a positive signal.

Economist Le Dang Doanh explained positive growth in employment in non-state sector and FDI: “This progress is conducive to long-term central and local government efforts to respond to market needs. The number of newly registered businesses surpasses those who closed down, reflecting public trust and the youth start-up dynamism.”

 Addressing the event, President of the Vietnam Institute for Economic and Policy Research Nguyen Duc Thanh recommended measures to achieve this year’s GDP growth of 6.84% as predicted by the report: “In the short run, we should pursue a flexible foreign exchange rate adjustment to help local companies resist to imports while maintaining relatively stable Vietnamese Dong against the US dollar. In the long run, Vietnam needs more drastic reform to cope with world trade changes.”