Vietnam's growth target maintained at 7% for 2024 despite Typhoon Yagi’s impacts
(VOVWORLD) - Typhoon Yagi, which made landfall in Vietnam on September 7, reduced Vietnam's GDP growth this year by 0.15 percentage points, Deputy Minister of Planning and Investment Tran Quoc Phuong said at the regular Government press conference in Hanoi on Monday.
 Deputy Minister of Planning and Investment Tran Quoc Phuong answers questions at the regular Government press conference for September 2024. (Photo: VOV) |
But with an estimated GDP growth of 7.4% in the third quarter and 6.82% over nine months, the Ministry of Planning and Investment continues to advise the Government to maintain its target of 7% growth for the whole year.
Mr. Phuong called on unaffected localities with high growth potential to make a greater effort to compensate for the losses of flood-affected areas. He said the Ministry told the Prime Minister that Hanoi and Ho Chi Minh City are key areas with higher growth rates that will likely lead the economic growth of the whole country.
“These are the two main drivers of the Vietnamese economy. In this spirit, the Ministry will coordinate with the Government Office to finalize the resolution of the regular Government meeting and implement the directives of the Government and the Prime Minister,” said Mr. Phuong.
Deputy Minister Phuong told the media that as soon as the powerful storm abated, the Government adopted support solutions. The financial and banking sectors have quickly implemented these solutions. Insurance companies have assessed the damage to compensate businesses and factories affected by the super storm and restore production.