Challenges remain for economic development in 2020

The National Assembly has set its GDP growth target for 2020 at 6.8% after carefully considering global movements and the domestic situation. However, according to experts, the target is challenging.



According to insiders, the GDP growth target at 6.8% this year is reasonable given volatiles in the world and an uneasy domestic economy. The target balances between economic growth and inflation control, but they still voiced concerns over the chances of reaching the target.

In order to meet the target, experts suggest the Government should focus on economic reform, while speeding up public investment disbursement and completing major infrastructure works. Improving the business environment with a focus on the private sector was among their other recommendations.

Experts also held that Vietnam’s economy will soar if a legal framework and transport infrastructure are significantly improved. Therefore, they said authorities should concentrate their resources to work on these areas./.