Exports, investments remain Vietnam’s economic growth driver: Insiders

Even though it will be hard for exports to reach this year's growth goal of 6% because global demand is falling, Deputy Minister of Industry and Trade Do Thang Hai said that they will be one of the main sources of economic growth until the end of this year.

Statistics from the General Statistics Office of Vietnam show that in August, Vietnam sent $32.37 billion worth of goods to other countries. This is up 7.7% from the same month last year and is the 4th month in a row that exports went up.

Exports of electronic goods, computers and parts, telephones and parts, clothing and textiles, and wood and wood products all grew strongly.

Hai said that both trade and capital will increase in the near future.

Over VND 299 trillion ($12.4 billion) of the public investment budget was spent from January to August to speed up economic growth. This was 42.5% of the Prime Minister's annual plan and the most money ever spent in eight months.

As a result, Deputy Minister of Planning and Investment Tran Quoc Phuong put his hopes on reaching the distribution goal.

Tran Van Lam, a regular member of the Finance and Budget Committee of the National Assembly, said that tourism, which has made an amazing comeback, is also a driving force for the country's economic growth.

He said that enterprises, companies, and local governments should do more to boost tourist development. He went on to say that Vietnam's GDP bottomed out at 3.72 percent in the first half of this year, which is lower than the expected growth of 7-8 percent.

Lam also said that it is important to stabilize the macroeconomy, keep prices under control, and make sure that major balances are maintained.

Source: Nhân Dân