bóng đá bet88Annual economic growth target attainable

bóng đá bet88 agriculture, forestry, and fisheries sector was bóng đá bet88 most severely affected by Typhoon Yagi. What was bóng đá bet88 extent of bóng đá bet88 impact?

Typhoon Yagi, which struck Vietnam’s north in early September, is considered bóng đá bet88 strongest typhoon to have hit bóng đá bet88 country in 30 years. bóng đá bet88 typhoon and its aftermath directly impacted 26 northern cities and provinces, causing widespread damage. While several economic sectors were affected by strong winds, flooding, and landslides, agriculture, forestry, and fisheries production suffered bóng đá bet88 most. Preliminary estimates suggest that Typhoon Yagi caused over VND80 trillion (.22 billion) in damage to bóng đá bet88 north.

In bóng đá bet88 third quarter of 2024, bóng đá bet88 agriculture, forestry, and fisheries sector grew 2.58 per cent; slightly better than in bóng đá bet88 same period of 2021 but lower than in 2020, 2022, and 2023. Agricultural activities showed bóng đá bet88 slowest growth since 2020, with an increase of just 2.03 per cent, largely due to bóng đá bet88 loss of rice fields and livestock in northern provinces during bóng đá bet88 storm.

Several provinces and cities saw significant declines in growth, including Bac Giang (-12.94 per cent), Thai Nguyen (-10.81 per cent), Quang Ninh (-6.97 per cent), and Hai Phong (-5.64 per cent). However, forestry and aquaculture were less affected, contributing little to bóng đá bet88 overall decline. Forestry grew 4.32 per cent due to strong wood exports to bóng đá bet88 US, China, and Europe, while aquaculture in bóng đá bet88 Mekong Delta has recovered strongly, increasing 3.89 per cent.

Due to bóng đá bet88 typhoon, bóng đá bet88 sector’s overall growth in bóng đá bet88 first nine months of 2024 was only some 3.2 per cent; lower than in 2021-2023. Agriculture grew 2.92 per cent, forestry 4.96 per cent, and fisheries 3.73 per cent. bóng đá bet88 26 affected cities and provinces experienced significant losses in agriculture, with flooded crops, damaged aquaculture, and destroyed infrastructure, particularly in Quang Ninh, Hai Phong, and several other localities. Despite these regional impacts, bóng đá bet88 national growth of bóng đá bet88 agriculture, forestry, and fisheries sector remained stable, contributing just over 20 per cent to bóng đá bet88 country’s total growth.

What about growth in other sectors?

In contrast to bóng đá bet88 decline in agriculture, forestry, and fisheries, bóng đá bet88 industrial sector recorded growth of 9.59 per cent in bóng đá bet88 third quarter; bóng đá bet88 highest quarterly increase this year. bóng đá bet88 manufacturing sector was bóng đá bet88 main contributor, achieving impressive growth of 11.41 per cent; bóng đá bet88 highest for bóng đá bet88 third quarter since 2020. This growth was partly fueled by a recovering export market, which led to manufacturers receiving more new orders for bóng đá bet88 remaining months of bóng đá bet88 year, and it is also measured against a relatively low growth baseline from 2023.

Unexpected factors bolstered industrial growth, including strong oil refining performance post-maintenance, increased electronics orders, and bóng đá bet88 textile sector capitalizing on international demand amid global challenges. bóng đá bet88 full operation of bóng đá bet88 500 kV national power transmission line, Circuit 3, reduced reliance on non-renewable energy and promoted renewables like hydropower, ensuring stable electricity for production and consumption. This support enabled industrial growth to meet expectations and offset losses in agriculture, forestry, and fisheries.

bóng đá bet88 26 cities and provinces hit by Typhoon Yagi faced industrial challenges due to factory damage and widespread power outages, but bóng đá bet88 overall impact was minimal thanks to contingency plans. Cities and provinces like Hanoi, Hai Phong, Quang Ninh, Vinh Phuc, Thai Nguyen, and Bac Ninh posted positive growth in their Index of Industrial Production (IIP), with Hanoi increasing over 5 per cent and others growing between 7 and 12 per cent.

Moreover, bóng đá bet88 service sector continued to play a significant role in growth. While some service industries, like tourism and accommodation, were directly affected by Typhoon Yagi, others remained stable.

As you mentioned, bóng đá bet88 effect of Typhoon Yagi on bóng đá bet88 agriculture, forestry, and fisheries sector was offset by growth in other areas. Do you think bóng đá bet88 annual GDP growth target will be met?

Despite bóng đá bet88 impact of Typhoon Yagi, GDP in bóng đá bet88 third quarter of 2024 was 7.4 per cent. This resulted in a 6.81 per cent increase in bóng đá bet88 first nine months of bóng đá bet88 year; a notable rise from bóng đá bet88 4.4 per cent recorded in bóng đá bet88 same period of 2023.

These figures indicate that bóng đá bet88 economy experienced positive growth in both bóng đá bet88 third quarter and bóng đá bet88 first nine months, even with a decline in agriculture, forestry, and fisheries. This decline has been balanced by strong growth in bóng đá bet88 industrial sector, while bóng đá bet88 service sector has continued to see steady growth due to consistent production and consumption demand, creating positive momentum for bóng đá bet88 fourth quarter of 2024 and bóng đá bet88 year as a whole.

Based on economic performance in bóng đá bet88 third quarter and bóng đá bet88 first nine months, we believe that achieving bóng đá bet88 annual economic growth target set by bóng đá bet88 government, of 6.5-7 per cent, is attainable. To reach 6.5 per cent, growth in bóng đá bet88 fourth quarter will need to be 5.7 per cent, to reach 6.8 per cent it will need to be 6.76 per cent, and to reach 7 per cent will need to be 7.5 per cent.

With bóng đá bet88 current growth results and anticipated trends over bóng đá bet88 remainder of bóng đá bet88 year, it is highly probable that growth for 2024 overall will reach bóng đá bet88 upper limit of bóng đá bet88 anticipated scenarios.

What risks could bóng đá bet88 economy face in bóng đá bet88 immediate future?

In addition to favorable elements such as consumer stimulus policies, macro-economic stability, and a significant increase in FDI, Vietnam’s economy is still confronted with various risk factors that need to be acknowledged.

Firstly, though bóng đá bet88 tourism sector has shown positive developments, it has yet to reach its full potential and has not met expectations. There is a need for a serious and systematic approach to developing tourism products to provide a substantial boost to economic growth.

Secondly, businesses are grappling with three major issues: market conditions, capital access, and legal frameworks. Some regulations, administrative procedures, standards, and business conditions remain overly complicated and have not been effectively streamlined.

Thirdly, companies must adhere to new standards, including green criteria, sustainable development practices, and environmental, social, governance (ESG) requirements, which demand significant investment resources. Unfortunately, bóng đá bet88 timeframe for these transitions is limited, as many countries plan to implement these standards by 2026.

Fourthly, while bóng đá bet88 financial and monetary markets, as well as bóng đá bet88 real estate and corporate bond markets, have stabilized, there are still numerous challenges to address, such as credit growth, tackling bad debts, addressing weak banks and “zero dong” banks, resolving obstacles for large real estate projects, coping with pressure from corporate bond maturities, and improving bóng đá bet88 stock market.

Lastly, climate change and extreme weather events are increasingly posing serious threats to human welfare, production, and economic development.

What solutions do you propose to achieve bóng đá bet88 growth target?

To stimulate economic growth in bóng đá bet88 final months of 2024 and lay bóng đá bet88 groundwork for future progress, several key measures should be effectively implemented.

First, it is crucial to ensure macro-economic stability by managing inflation and stabilizing exchange rates. While focusing on growth, bóng đá bet88 government must continue policies aimed at controlling inflation and maintaining stable prices to protect citizens’ purchasing power. A reliable foreign exchange supply is essential to avoid fluctuations that could impact bóng đá bet88 import of raw materials and bóng đá bet88 export of goods.

Second, encourage domestic consumption by effectively implementing demand stimulus programs, such as discounts and promotions, and by promoting bóng đá bet88 use of domestically-produced goods. It is important to enhance bóng đá bet88 distribution of products through digital platforms and e-commerce.

Third, strengthen exports and international integration by enhancing trade promotion activities, supporting businesses in attending international fairs, seeking new partnerships, and expanding export markets.

Fourth, accelerate public investment disbursement by speeding up funding allocations for public investment projects, particularly in infrastructure, to create momentum for related sectors such as construction, materials production, and logistics, thus facilitating bóng đá bet88 movement of goods.

Fifth, help businesses enhance competitiveness by promoting technology adoption, innovation, and cost reduction, encourage investment in green technologies to meet EU and US environmental standards, and support companies in digital transformation to improve productivity and reduce costs, while also offering favorable tax, fee, and interest rate policies.

Lastly, improve bóng đá bet88 business environment by streamlining administrative procedures, enhancing administrative reform, and minimizing barriers that hinder businesses from quickly accessing capital, markets, and government support programs.

Given bóng đá bet88 ongoing global economic challenges that negatively affect Vietnam’s economic growth, bóng đá bet88 effective and coordinated implementation of these solutions, coupled with a favorable business environment and political and social stability, is vital for driving economic growth in bóng đá bet88 final months of 2024.