Participants at a seminar in Hanoi on May 16 discussed three pillars of the nation’s rapid and sustainable development.

Economic difficulties are on the shoulders of the banking industry as it has to stabilise the macro-economy, control inflation, and support economic growth and businesses, experts have said.

The index of industrial production (IIP) in April was estimated to increase by 3.6% month on month and by 0.5% over the same period last year, according to the General Statistics Office (GSO).

Vietnam will focus on developing its private sector to turn it into an important driving force for the socialist-oriented market economy, contributing to rapid and sustainable socio-economic development and improving the economy's self-reliance.

With the Government’s initiatives to address disappointing GDP growth in the first quarter and the fact that foreign companies’ orders are likely to increase in the second half of the year, the economy is expected to rebound then, Michael Kokalari, chief economist at investment fund VinaCapital, has said.

Innovation and impact investing will help Vietnam ensure balanced socio-economic development, as well as sustainable development, heard a workshop in Hanoi on April 20.

Vietnam’s GDP is projected to grow 5.8% this year, sharing the second position with Cambodia in the region, only after the Philippines, according to the International Monetary Fund (IMF).

VOV.VN - Despite growth rates slowing down, the nation is still growing at a high rate, projected to be at 5.8% this year before reaching 6.9% in 2024, according to Daniel Leigh, head of the World Economic Studies division in the IMF's Research Department which produces the World Economic Outlook.

VOV.VN - Vietnam’s economic growth is forecast to decrease slightly at 6.5% this year before rising to 6.8% next year, according to the “Asian Development Outlook” report released by the Asian Development Bank (ADB) at a press conference in Hanoi on April 4.

The State Bank of Vietnam, the central bank, announced five separate decisions on March 31, to further lower some key interest rates, with effect from April 3. This is the second round of rate cuts in March.