The economy still has many difficulties and challenges.
Speaking at the opening ceremony of the Vietnam Socio-Economic Forum 2023 on the morning of September 19, National Assembly Chairman Vuong Dinh Hue emphasized that thanks to the correct and unprecedented policies and solutions in recent times, Vietnam has basically steadfastly overcome difficulties and challenges in the face of "headwinds" and achieved many important and quite comprehensive results.
The economy maintained its growth momentum and was a bright spot in the “gray picture” of the global economy. The macro economy was stable, inflation was under control, and the country’s credit rating and international position continued to improve.
In the first 8 months of 2023, FDI attraction, public investment disbursement, and the service sector have seen more positive changes; some key industrial areas have recovered or maintained rapid growth; social security has received attention...
Despite achieving important results in recent times, according to the National Assembly Chairman, the economy is facing many difficulties and challenges.
Economic growth in the first 6 months of 2023 reached only 3.72%, nearly the lowest in the past 12 years, creating great pressure on GDP growth for the remaining two quarters of the year.
Achieving the growth target for 2023, the 5-year period of 2021-2025 and the entire strategic period of 2021-2030 has become extremely difficult. Many of the economy's main growth drivers in the first 8 months of 2023 have shown signs of slowing down, even declining, and are under great pressure from the outside.
Of which, goods exports continued to decline, down 10% in the first 8 months of the year compared to the same period, the sharpest decline in the same period in the past 12 years; many key export groups, especially phones, components, footwear, textiles, and wooden furniture continued to decline sharply.
In the current economic structure, the foreign direct investment (FDI) sector is contributing about 20% of GDP, accounting for nearly 74% of total export value.
Public investment is considered an important driving force for economic growth in 2023, but so far, although disbursement has improved (8 months reached 42.35% of the plan), it has not met expectations.
Need a solution soon
Emphasizing that the country is facing many difficulties and challenges, National Assembly Chairman Vuong Dinh Hue said that the resilience of many businesses has reached its limit.
Many orders were cut, production and business activities faced difficulties, especially in terms of output markets, cash flow, capital mobilization, administrative procedures and increasing pressure from market and partner requirements for sustainable development.
“Enhancing endogenous capacity and creating growth momentum is an objective, inevitable and urgent requirement. This is to ensure continuity, stability and sustainability, helping the country take advantage of opportunities, overcome challenges, unleash resources, withstand external shocks and crises, and at the same time help the economy grow towards sustainable development,” said the National Assembly Chairman.
With the spirit of "unanimity, joint efforts, overcoming difficulties together", to achieve the forum's goals, the National Assembly Chairman hopes to listen to opinions, exchange and discuss focusing on answering 3 major questions.
Firstly, forecast the context of the regional and global economic and financial situation; what are the opportunities, risks and challenges for the Vietnamese economy in 2023, 2024 and the following period?
Second, what is the current socio-economic situation, difficulties, challenges, major bottlenecks and resilience of the economy? Forecast for 2023, 2024 and the entire 5-year period of 2021-2025?
Third, what are the endogenous capacities, driving forces and fundamental solutions to remove bottlenecks, unblock resources, strengthen internal strength, and create momentum for socio-economic growth and development in 2023, 2024 and for the entire 2021-2025 term?
The Vietnam Socio-Economic Forum 2023 took place on September 19, with an opening session and a plenary session. The opening session included topic 1 on “Strengthening internal strength, unleashing resources, supporting businesses to overcome difficulties” and topic 2 on “Improving labor productivity and ensuring social security in the new context”. |
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