Sustainable growth plays key role in Vietnam's development

June 26, 2019 | 15:00

(0) user say

Sustainable growth is an inevitable part of the strategy to help Vietnam maintain economic development in the next few years.

sustainable growth plays key role in vietnams development

Deputy Prime Minister Trinh Dinh Dung spoke about sustainable growth at the 2019 mid-term Vietnam Business Forum

This was shared by Deputy Prime Minister Trinh Dinh Dung at the 2019 mid-term Vietnam Business Forum in the morning of June 26. Accordingly, in addition to the target of accelerating economic development, sustainable growth helps Vietnam to be strong enough to keep pace with the other developed countries.

In addition, sustainable growth also improves the relationship between growth and development, as well as between the economy and society.

“Enterprises are the main force to reach the target of sustainable growth. They have the resources and technologies – and the knowledge to use them. Enterprises are essential for development,” Dung emphasised.

In 2019’s first five months, the local economic performance remained positive, featuring stable macroeconomics, controlled inflation, and the lowest growth rate of the consumer price index within the past three decades. Vietnam currently has 54,000 new enterprises, the highest number over the past five years.

Dung added that 85.1 per cent of enterprises agreed that the business environment has been improving and that the country ranked 45th on the innovation index, up two positions against last year, while the country's sustainable growth index improved 11 positions.

However, Vietnam is still facing difficulties like the productivity of manufacturing activities and troubles in enterprise licensing. These lead to the low number of established enterprises. Specifically, Vietnam has one enterprise for every 400 people.

By Hoang Van

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional