Vietnam projects 2021 GDP growth at 6-6.5 pct

By Anh Minh September 18, 2020 | 05:45 am PT

Farmers harvest rice in the northern province of Lao Cai, August 2020. Photo by VnExpress/Ngoc Thanh.

The Vietnamese government expects the economy to rebound from this year's pandemic-related problems to post 6-6.5 percent growth in 2021.

The government has emphasized that both economic recovery and pandemic prevention will be main goals for the coming time, according to a government resolution announced Thursday by the Government Office.

It has asked the central bank to continue implementing an active, flexible monetary policy, ensuring inflation control and macroeconomic stability, and the Ministry of Planning and Investment to proactively promote policies to attract foreign investment.

It has also required the Ministry of Industry and Trade to boost exports to potential markets, stimulate domestic consumption, and strengthen prevention of smuggling and trade fraud.

Vietnam recorded a decade low GDP growth of 1.8 percent in the first half of the year and experts warned that the economy could contract for the first time in decades as the pandemic crippled trade and key sectors such as aviation and tourism.

Prime Minister Nguyen Xuan Phuc had said last month that the country would strive for positive GDP growth by providing support packages to businesses and individuals.

It had been 7.02 percent last year, the second highest rate in a decade only behind the 7.08 percent in 2018.