Vietnam: 3% growth in 2021 hard to hit, govt aims for 6% growth in 2022

• Minister of Planning and Investment (MPI) Nguyễn Chí Dũng estimated economic growth in the whole of 2021 to be 3-3.5% depending on the pace of reopening, but also said such a target will be difficult to reach.
• At the 4th session of the National Assembly Standing Committee meeting in Hà Nội on 13 Oct 21, Dũng said four out of 12 socio-economic targets have not yet reached the set plan due to the pandemic. He added the macroeconomy suffered potential risks caused by disruptions in some production chains, supply chains, and goods circulation, meanwhile the labour and employment situation were severely affected.
• In addition, he also announced that the government is targeting a GDP growth of 6-6.5% in 2022. During the meeting, he listed the 16 main goals of the socio-economic development plan, which also includes containing inflation and the budget deficit at 4%.
• Saying 2020-21 is the country’s most difficult period ever, NA Vice Chairman Nguyen Khac Dinh said it is necessary to have larger stimulus packages and drastic measures to restore the economy, revive consumer demand and investment and support people and businesses.

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