The incumbent government’s all-round initiatives in the fiscal sector led to the rapid growth of the country’s economy over the last three years. One of the significant reasons for our economic boost is the rise in export items even amid the pandemic.
Reportedly, the country’s export target will exceed USD 51 billion in the current fiscal. At the same time it will help achieve the SDG target before 230 only if the existing large population can be connected with trade and productive activities.
Right now our country is the most favourable and safe place for business. Vietnam including the neighbouring countries are investing in our country. Our businessmen can also work in joint venture with them. As a result, some sectors will flourish.
The government should take
more measures to increase the
number of export sources which
will lead to a stronger trade surplus
Major sectors have seen a sharp rise in export income, leading to balance of trade surplus. The government should take more measures to increase the number of export sources which will lead to a stronger trade surplus.
The government needs implement new policies to continue the positive macroeconomic trend. More foreign direct investments should be attracted and exports should be maximised so that we can maintain a trade surplus. To attract more foreign investments in our resilient garment sector, government can target the companies which are recently shifting away from China, and if we can get part of it and attract some of those companies, that would be a good opening to bring and diversify the economy too.
