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According to the General Statistics Office, in July, the industrial production index rose at the lowest level since the beginning of the year; the number of newly established companies decreased, the number of companies that ceased operations increased, etc. However, if we see upon the whole 7 months, the situation is relatively positive – considered a good foundation, although the goal of “expected growth” is challenging.
After seeing the statistical reports on the socio-economic situation in July and the past 7 months, the economist Dr. Le Duy Binh – Managing Director of Economics Vietnam is interested in the following indicators: Firstly, the index of industrial production in the month only increased by 1.8% – a decline compared to previous months, which affects the position and image of Vietnam in the global supply chain. Secondly, the total retail sales of consumer goods and services decreased by 8.3% over the previous month and by 19.8% over the same period last year, showing the slowdown of economic leaders such as Ho Chi Minh City, etc.
“These indicators do not fully reflect the situations that Vietnamese companies are facing in reality. We ourselves are currently overwhelmed when there is information about the difficult situation of businesses, especially in the circulation of goods. This affects Vietnam in maintaining the supply chain, which we can see as the followings: Cat Lai Port and a number of gateways for transshipment of goods to the world are experiencing congestion, which shows that it is not only difficult to maintain production capacity but also difficult to maintain production places to the whole world from the domestic market to the global market”, Mr. Le Duy Binh pointed out.
Generally in 7 months, the economic situation is relatively positive – considered a good foundation, although the goal of “expected growth” is a challenge (Photo: KT)
With the same point of view, the economic expert Nguyen Tri Hieu affirmed that besides maintaining production capacity, more attention should be paid to the circulation of goods, not only the circulation to ensure the essential needs of the people every day but also that from the place of production to the global market, because Vietnam’s GDP is still largely dependent on import and export. Failure to maintain the circulation of import and export goods will affect economic growth in the last months of the year, even a few years later. This is not difficult to understand, because maintaining exports is maintaining the trust of international customers – maintaining orders for Vietnamese enterprises that are producing for export purposes.
Mr. Nguyen Tri Hieu said that the dual goals are reasonable, however, between the pandemic fight and the economic development, the fight is more important because if we cannot manage to overcome it, it is impossible for economic development. And the three major sectors of the economy, namely agriculture, industry and services are currently affected, but the most affected are industry and services.
“We need drastic solutions for businesses to go through the difficulties of the pandemic. The administrative procedures are still cumbersome and affect the flow of goods. There is no shortage of consumer goods, but the goods flow is now congested and goods cannot reach the consumers. Therefore, how to ship goods to consumers as soon as possible is the most critical issue. It is also necessary to mitigate some papers and procedures, except for vaccination certificates and negative tests”, Mr. Nguyen Tri Hieu emphasized.
In fact, before the General Statistics Office announced remarkable economic data in July and 7 months, on the basis of the first 6 months of the year, at the first session of the XV National Assembly, the Government representative also affirmed the determination to make “dual goals” come true, in which, prioritizing effective epidemic prevention to be able to promote production and business and the achievement of the highest efficiency of the set goals.
More specifically, for the remaining of the year, the Government will continue to strengthen the macro foundation, facilitate production and business, promote growth, and ensure major balances of the economy. The implementation of “dual goals” will be flexible and creative – flexible to each locality, area, agency, and unit. In which, the decisive factor is the efforts of each citizen, businessman, enterprise, and locality.
From the perspective of entrepreneurs, Mr. Nguyen Quang Huan – Vice Chairman of the Vietnam Private Business Association said that up to this point, entrepreneurs and businesses themselves – no matter how big or small – have been interested much in the macroeconomic issues and its impact on the market. This is a special and different from before, and also a good sign for the dual goals with sustainable and long-term effectiveness.
“There is also a concern that the number of newly registered businesses decreased by 22.8% compared to the previous month and decreased by 33.8% compared to the same period last year. This is a worrying figure but it’s good that the amount of registered capital has increased, which means higher business quality. There are pink, there are gray, there are separate concerns in the epidemic situation. Entrepreneurs-businesses began to see that this war is more intense and difficult than before, and we have to be determined to overcome it,” said Mr. Nguyen Quang Huan.
Not only efforts from the Government, from the frontline, from entrepreneurs and businesses, “expected goals”, “dual goals” to achieve optimal results need great efforts from the people – workers in general, in the pandemic with unpredictable developments. In particular, experts affirmed that solutions to directly support disadvantaged workers so that workers can revive their production capacity, creativity and well-being should continue to be strengthened. The more timely, effective and transparent Resolution 68 and Decision 23 are, the more valuable motivations will be for the journey towards these goals./.
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