Public investment was regarded as the engine of growth in the context that the COVID-19 pandemic was heavily weighing on socio-economic development. – Photo laodongthudo.vn HÀ NỘI – Boosting the disbursement of all planned public investment would help increase this year’s gross domestic product (GDP) by 0.42 percentage points, according to the General Statistics Office (GSO). The Vietnamese Government has identified public investment as the engine for growth to offset the growth gap caused by the COVID-19 pandemic. GSO Director Nguyễn Bích Lâm said that boosting public investment would be an efficient solution to lift economic growth, estimating that every increase of one per cent in public investment disbursement would push up GDP by 0.06 percentage points. In recent years, the disbursement rate of public investment were around 92-93 per cent of the plan. If that rate reached 100 per cent, GDP this year would increase by 0.42 percentage points. Lâm said that focus should be placed on handling bottlenecks in land policies and administrative procedures to boost public investment disbursement, especially for key and large-scale projects which would contribute to the economy’s production capacity such as the projects to expand Tân Sơn Nhất and Nội Bài international airports, the construction of Long Thành International Airport and the North-South… Read full this story
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