Seminar seeks ways to improve growth quality
Updated : Thursday, April 12, 2018 10:20 AM (GMT+0700)

Economicexperts discussed measures to improve the quality of economic growth in aworkshop held by the Central Institute for Economic Management (CIEM) in Hanoion March 11.

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Participants heard that witheconomic growth of 7.38 percent, Vietnam’s GDP growth in the first quarter of2018 surpassed most of the forecast expectations.

According to Nguyen AnhDuong from the CIEM, the impressive economic growth in the first three monthswas attributed to the improvement of trade balance. 

He said the low inflationand stable macro economy created favourable conditions for Vietnam to achievehigh growth in the period. 

However, economic expertssaid Vietnam’s growth quality has not been improved as the national economystill relies on foreign invested sector and is affected by the world economy’sfluctuations. 

To create impetus for thehigher economic growth in the remaining quarters of the year, Duong said theGovernment should give priority to stabilising the macro-economy and exchangerate, while carefully considering regional minimum wage increase in 2018 toavoid impacts on inflation. 

He also underlined the needto further improve business climate, accelerate the restructuring ofState-owned enterprises and encourage businesses to apply advanced technologiesin production to increase labour productivity and quality.

Prof. Dr. Nguyen Mai,Chairman of the Association of Foreign Invested Enterprises, stressed that itis necessary to have fundamental changes in FDI attraction policy with specificorientations and objectives, towards expanding affiliation betweenforeign-invested enterprises and local partners, thus promoting sustainableeconomic growth. 

CIEM Director Nguyen DinhCung said Vietnam should be more active in finding high quality FDI sourcesthat have great impact on its economy. 

Along with changing the FDIattraction strategy, there should be solutions to support the development ofdomestic economic sector, contributing to the national growth, he noted. 

Economic experts said inorder to achieve high and sustainable growth in the coming years, Vietnam needsto take advantage of opportunities from international economic integration,particularly benefits brought by the newly-signed Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP), andthe Vietnam-European Union Free Trade Agreement (EVFTA) which are said topositively impact Vietnam’s economic and export growth.


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