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Vietnam’s economy to expand 7pc in 2024: Trade Ministry

HANOI (XINHUA) – Vietnam’s economy could beat all the forecasts to expand at seven per cent for the full year with a growth rate of 7.4 per cent and 7.6 per cent in the two last quarters, respectively, said the country’s Ministry of Planning and Investment.

Providing updates for economic growth scenarios in the second half of this year, the ministry opted for the second scenario on the positive growth of economic sectors, more rapid recovery of private investment, and state-owned enterprises, positive growth momentum of foreign direct investment, robust export, improving tourism and consumption and new policies, Vietnam News Agency reported on Monday.

Minister of Planning and Investment Nguyen Chi Dung said if the growth momentum was maintained, the Vietnamese economy could fulfill or even exceed the National Assembly’s target of 6.5 per cent.

Vietnam’s economy grew at 6.42 per cent in the first half of this year, according to the General Statistics Office.

People shop for fresh food at a morning market in Hoi An, Vietnam. PHOTO: AFP