GDP in the first 6 months of the year increased by 8.18%, the highest in the past 15 years. This result shows the effectiveness of management, the involvement of the entire political system and the efforts of the business community in the context of a volatile world economy.
The processing and manufacturing industry continues to be the growth engine; trade and services are recovering positively. FDI capital flows are maintained thanks to a stable environment, new generation FTAs and the trend of supply chain restructuring. The carbon credit exchange also opens up more opportunities to attract quality capital flows.
However, the gap from the growth rate of 8.18% to the target for the whole year is still not small. Trade deficit is still high due to sharp increases in commodity prices and input costs. Domestic consumption has not really accelerated. Disbursement of public investment - a resource expected to create spillover effects for the entire economy - is still slower than expected.
After half a year, 9 localities have GRDP growth of over 10%, while more than 20 provinces and cities are still growing below expectations. Behind those figures are bottlenecks that need to be promptly removed.
To achieve the growth target, all drivers must operate together, and cannot wait for a few "leaderships" of the economy. We cannot just rely on FDI. Nor can we just expect exports when the world economy is still unstable. Domestic consumption must be unlocked so that the 100 million people market truly becomes a backing. Labor productivity must be improved. Production costs must continue to be cut. Supply chains must be optimized. New drivers such as science and technology, innovation and digital transformation must be promoted more strongly.
In particular, public investment cannot continue to be a "bottleneck". Every delayed capital disbursement is not just a figure on paper, but also slow-progress projects, businesses lacking jobs, and growth opportunities missed.
What needs to be removed at this time is not only procedures, but also the removal of the psychology of fear of mistakes and avoidance of responsibility in a part of law enforcement officials. Institutions must also continue to be reformed more strongly. Not only to handle immediate obstacles, but also to pave the way for new growth drivers, effectively unlock all resources of the State, businesses and society.
The goal of double-digit growth is certainly not easy. But that is not pressure specifically for a ministry, an industry or a locality. It is a common aspiration.
And that aspiration can only become a reality when it is divided into thousands of small goals, thousands of specific actions. Each locality increases one point of growth. Each project reaches the finish line one month earlier. Each business boldly invests in an additional production line. Each official resolves dossiers faster by one more day.
When each link moves together, the whole economy will accelerate.
