The Vietnamese economy could beat all the forecasts to grow at 7% for the full year if the growth momentum is accelerated, according to the Ministry of Planning and Investment. (Photo: VNA)

In the first scenario, the economic growth could reach 6.5% in 2024, equivalent to the National Assembly’s target, with a growth rate of 6.5% in the third quarter and 6.6% in the last quarter.

In the second, the economy could beat all the forecasts to expand at 7% for the full year with a growth rate of 7.4% and 7.6% in the two last quarters, respectively.

The Ministry of Planning and Investment opted for the second scenario on positive growths of economic sectors, more rapid recovery of private investment, State-owned enterprises, positive growth momentum of foreign direct investment (FDI), robust export, improving tourism and consumption and new policies.

Minister of Planning and Investment Nguyen Chi Dung said that the focus will be on improving legal frameworks to increase the enforcement of the laws on land, real estate business and housing from August 1.

It is also necessary to promote growth momentum from investment, consumption and export as well as new impetus from digital and green transition, together with speeding up administrative reforms and improving investment climate.

The Vietnamese economy expanded at 6.93% in the first half of this year.

“If the growth momentum is maintained, Vietnam could fulfil or even exceed the National Assembly’s target at 6.5%,” Dung said./.