Saturday, 4 December, 2021

Vietnam prioritizes six pillars for economic recovery: PM

HANOI: The government of Vietnam will focus on six pillars to revive the economy post-pandemic, including mitigating difficulties faced by foreign companies, Prime Minister Pham Minh Chinh has said.

The master plan for economic recovery includes controlling Covid-19, ensuring social security, creating jobs, reviving businesses, developing infrastructure, reducing administrative procedures, and fighting corruption, he said Friday at the World Economic Forum Country Strategic Dialogue on Vietnam, report agencies.

There would be six policy pillars to realize the goal, he said at the online event that he co-chaired.

First, the country needs to restore supply chains to ensure the circulation of goods and safe and smooth production by enterprises in the new normal.

The second pillar is to promote manufacturing to restore economic growth and stabilize people’s lives.

Third, the country needs large-scale investment, especially in inter-regional transport infrastructure, green energy and national digital infrastructure, which will serve as new growth engines for the economy.

Fourth, Vietnam needs to step up efforts to address difficulties confronting businesses, including foreign enterprises.

The fifth pillar is to improve institutional reforms to international standards, one of the key strategies to achieve a breakthrough in development in the next decade.