Vietnam’s economic growth accelerated faster than expected in the second quarter of this year, as a recovery in exports and manufacturing helped offset risks from coronavirus outbreaks and rising oil prices, Bloomberg reported.

The Lianhe Zaobao daily in Hong Kong, China, on June 30 ran an article highlighting Vietnam’s impressive economic growth of 7.72% in the second quarter.

The targets set for 2022, including the growth target of 6-6.5%, remain a huge challenge given the domestic and international situation, Deputy Prime Minister Le Van Thanh said at the third session of the 15th National Assembly in Hanoi on May 23.

For Vietnam to realise its aspiration for reaching high income status by 2045, the country will need to shift its economic growth model and sharply improve the government’s capacity to coordinate and implement economic policy reforms and public investments, a World Bank Group report says.

Vietnam needs to speed up transformation towards an efficiency and innovation-driven growth model to meet requirements of sustainable and inclusive development, experts have said.

Vietnam is likely to complete its target of 6.5% in economic growth for 2022, but the goal of keeping the inflation rate under 4% is tough, according to Assoc. Dr. To Trung Thanh from the National Economics University (NEU).

VOV.VN - Vietnam is set to achieve an economic growth rate of 6.5% this year, although its inflation target of below 4% is not achievable, according to the annual publication of Vietnam Economic Review 2021 released on April 25 by the National Economics Univer

Fiscal policies have worked to promote economic growth and control inflation in the first months of this year, Deputy Minister of Finance Vo Thanh Hung said, adding that close watch should be placed on the market to ensure inflation is within the National Assembly’s target.

VOV.VN - The capital’s economic growth rate during the first quarter of the year showed signs of a remarkable improvement thanks to timely and effective solutions, demonstrating its resilience and development after suffering from the impact of the COVID-19 pandemic.

VOV.VN - Prime Minister Pham Minh Chinh affirmed the burgeoning development of the Vietnam – US relations over the past years at a business summit on March 8, noting Vietnam considers the US as one of its leading partners.