Pham Minh Chinh, Prime Minister of Vietnam, speaking at the opening plenary session of the World Economic Forum Pic: World Economic Forum
The country is targeting a growth of 6-6.5 per cent this year, faster than last year’s 5.05 per cent.
Chinh said Vietnam will continue to prioritise growth and repeated his promise that the country will not face power shortages this year.
The country will stick to its flexible monetary policy, with an aim of further cutting banks' lending interest rates, reducing fees and boosting public investment, he said.
The country failed to meet its GDP growth target last year, partly due to power shortages amid heatwaves.
Vietnam has been taking steps to upgrade its power generation capacity and its grid, while focusing on clean energy development, he said.
The country will soon issue policies for direct power purchase agreements and the development of rooftop solar and power generation from LNG, he added.
Vietnam's economy surged to $430 billion last year, with GDP per capita reaching $4,300 and foreign investments registering a record $36.6 billion.
Fibre2Fashion News Desk (DS)