WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Industry
Flexible approach needed between Covid-19 fight and economic recovery: PM
Ngoc Thuy 16:34, 2021/07/01
Depending on the actual situation of each province/city, priority should be given for containing the pandemic, boosting growth, or both, Prime Minister Pham Minh Chinh has said.

A flexible and creative approach between fighting the Covid-19 pandemic and boosting economic recovery is essential for Vietnam at the moment, said Prime Minister Pham Minh Chinh at the monthly government meeting held today [July 1].

 Prime Minister Pham Minh Chinh at the meeting. Photos: Nhat Bac

“In a certain number of provinces and cities, priority should be given for containing the pandemic, while in others, it is socio-economic development tasks that are more of an urgent issue. And there are situations that we should balance both,” Chinh noted.

The PM referred to two provinces of Bac Giang and Bac Ninh that are focusing on economic development as the pandemic has been gradually contained.

In cities like Hanoi, there should be a balanced combination of both measures and objectives, while for Ho Chi Minh City (HCMC) and those in the country’s southeast region, fighting the pandemic is the most significant matter.

Chinh, however, also noted within HCMC, there should be districts that are focusing on containing the pandemic and others on boosting economic growth.

Chinh expected the continuation of flexible management of fiscal and monetary policies to keep stable macro-economic conditions, while accelerating the development of high potential fields in the current climate, including e-commerce and digital transformation.

Giving a detailed look at the country’s economic performance in the six-month period, Minister of Planning and Investment Nguyen Chi Dung said in recent Covid-19 outbreaks, hiking prices of input materials and risks from global trade are putting pressure on the local economy.

 Overview of the meeting.

“The economy, however, has progressed positively, thanks to drastic measures from the Government and support of the people and business community,” said Dung, referring to a GDP growth of 5.64% in the six-month period, a significant improvement from the 1.82% rate recorded in the same period last year.

According to Dung, other key economic indicators, including a 15.3% year-on-year increase in budget revenue collection, and food security staying intact despite Covid-19, have been strong results from the Government’s efforts of pursuing the twin goal.

The Ministry of Planning and Investment has drafted two growth scenarios for the second half of the year.

In the first scenario, to achieve the 6% growth target, Vietnam would need to hit a growth rate of 6.2% in the third quarter and 6.5% in the fourth.

However, to reach a 6.5% growth target, a 7% growth rate in the third quarter is needed, following a GDP growth of 7.5% in the fourth quarter.

RELATED NEWS
TAG: Vietnam Covid-19 pandemic HCMC Hanoi economic recovery twin goal GDP
Other news
12:07, 2024/12/09
Bat Trang artisans innovate to meet global market demands
To boost competitiveness, Bat Trang pottery businesses leverage information technology for product promotion.
14:51, 2024/12/07
Hanoi to create over 213,000 jobs in Jan-Nov
The city is estimated to create 225,000 jobs in 2024, meeting 136.3% of the year's plan.
10:51, 2024/12/06
Vietnam partners with NVIDIA to establish AI research center
The partnership is expected to create breakthroughs in key technology areas and job opportunities for Vietnamese talents.
22:51, 2024/12/03
Hanoi grasps opportunities to drive semiconductor industry growth
With Hanoi's advantages and readiness, a specific regulatory framework for the semiconductor sector can be created, enabling efficient investment promotion in the city.
22:44, 2024/11/28
Internet users in Vietnam to hit 100 million by 2029
Internet Day 2024 highlighted the rapid growth of internet penetration in Vietnam and the country's strategic plans for digital transformation.
20:55, 2024/11/27
Prime Minister calls for active participation in innovative start-ups
Techfest 2024 is taking place November 26-28 in the northern city of Haiphong.