To tackle global uncertainties, Vietnam should improve the quality of growth, boost economic resilience and speed up implementation of existing policies, economic experts suggest.
While growth figures reflect positive short-term results, long-term success would depend not only on the pace of growth, but also on the quality and resilience of the economy and the sustainability of growth engines, they feel.
Instead of issuing more new policies, authorities now should focus on effectively implementing existing ones so that they quickly produce positive effects for businesses and the economy, Phan Duc Hieu, a member of the National Assembly’s Committee for Economic and Financial Affairs, told a domestic media outlet.
Nguyen Tu Anh, director of policy research at VinUniversity, pointed to growing interest in Vietnam from international investment funds, including major wealth management funds serving high-net-worth clients. This, he said, suggested that Vietnam is increasingly being viewed as an attractive emerging market.
However, one of the problems he identified is uneven export performance—high-tech industries have continued to record strong growth while traditional sectors like textile-garment and footwear have grown at a slower pace.
He said changing trade policies of major partners and stricter sustainability requirements from the European Union could create additional pressure on Vietnam’s exports in the near future.
Ly Dai Hung from the Institute of Vietnam and World Economy said many large foreign-invested enterprises still lack a capable local supporting industry, limiting domestic value creation.
Fibre2Fashion News Desk (DS)
