PM sets goals for inferior levels to spur growth

VGP – PM Nguyen Xuan Phuc pressed ministries, agencies and localities to have more drastic efforts and solutions to realize this year’s targets, especially the growth goal of 6.7% at a meeting on Friday.

August 12, 2017 2:59 PM GMT+7

PM Nguyen Xuan Phuc. Photo: VGP

To achieve the growth goal, the economy needs to expand 7.42% in the second half, said the Government chief, adding that this is an “important political mission” of all levels and sectors.

As the agriculture sector only grew 2.65% in the first six months, PM Phuc questioned the Minister of Agriculture and Rural Development to clarify measures to raise the growth rate to 3.3% this year.

The PM also pointed out that the industry and construction must obtain growth rate of 9.2% in the second half in a bid to contribute to the overall economic growth.

Projected growth rates of three key sectors in the second half. Sources: The Ministry of Planning and Investment

He tasked the processing and manufacturing to gain growth rate of 14% in the second half compared to 10.52% in the first half.

The Governor of the State Bank of Viet Nam is assigned to develop a plan to increase credit growth to around 21 – 22%.

Meanwhile, the Minister of Planning and Investment has to take measures to spur disbursement of private and foreign direct investment capital in order to increase the total investment volume to 34-35% of the gross domestic product.

By Thuy Dung