THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Untying “knots” to speed up VN’s economic growth in 2008
VNGOP - The Central Institute for Economic Management (CIEM) under the Ministry of Planning and Investment just issued an forecast on Việt Nam’s economic norms in 2008 to help policy makers adopt appropriate measures in response to different circumstances.
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Infrastructure “knots” should untied to facilitate economic development |
On May 8, in Hà Nội, CIEM made public the Vietnamese Economic Report 2007.
CIEM presented three scenarios for economic growth rates in 2008: the basic (GDP growth of 7.2% and inflation rate of 19.4%); the pessimistic (GDP 6.6% and inflation: 22.3%); and the optimistic (GDP: 7.6% and inflation: 16.7%). Assessing the possibility of the national economy, CIEM’s experts adopted the basic scenario.
They remarked that, in order to obtain development goals, it is essential to further restructure the mechanism (streamlining State-owned enterprises and expanding private firms), seriously comply with international commitments, and remove hindrances (institution, infrastructure and human resources). Meanwhile, it is an advice that policy makers should become fully aware of complicated and severe risks of the macro instabilities, so as to take proper solutions.
By Hương Giang